Health Trust Management

What is a health trust?

A Health Trust is a tax efficient way for organisations to self-insure their Private Medical Arrangements. It enables the provision of private medical treatment for members, that is designed to dovetail with other benefit programmes. Its elegance is that the benefit provisions can be designed by the organisation to fit with their culture, and enable them to retain ultimate control of the cost, and the extent of the cover provided.

How does it work?

HCB will support an organisation with the design of the Trust benefits, and will organise the administration of the Trust through its partnership with Healix Health Services, a well established and highly trusted administrator of Health Trusts. A Health Trust will require at least 100 members to be viable – clearly the more ‘members’, the wider the risk is spread, and the greater the funding is.

The scheme is written under a non-discretionary Trust, HCB supply the wording. A fund is established from which premiums are calculated for P11D purposes. Staff covered are issued with a membership card, and confidentially contact Healix Health Services in the event of a claim, who will administrate the claim against the rules of the Trust, just like traditional Private Medical Insurance.

HCB will report annually on the financial performance of the Trust, and will act as a support mechanism for any preferred changes to the benefit structure, and advise the employer generally to ensure the smooth operation of the Trust. Professional, and independent Trustees are already in place.

What are the benefits

  • No need to purchase PMI from a limited menu of plans available;
  • Benefit schedule designed to match corporate culture;
  • Layered benefits possible, (more cover for seniority, length of service etc);
  • Client selected choice of therapies covered;
  • Amend benefit schedule to suit changing demographics;
  • Exempt from Insurance Premium Tax;
  • Unspent premiums carried forward to following fund year;
  • Internal control of costs and risks enabled;
  • Health scheme becomes unique, and bespoke to the organisation.
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