Hospital Cash Schemes

Hospital Cash Schemes

These schemes are designed to cover additional costs that may be incurred from hospitalisation, as opposed to a Private Medical Insurance plan which refunds the cost of private medical care.

This type of plan can be used as a low cost alternative to a traditional Private Medical Insurance plan or it could be used to complement Private Medical Insurance by helping to meet the incidental expenses relating to a hospital stay.

Typical benefits that would be provided under a hospital cash scheme include;

• A cash payment for each night spent in hospital
• A cash lump sum in the event of a single course of extensive treatment or a long period of recuperation that requires a lengthy stay in hospital.
• Additional cash benefits if a husband and wife are hospitalised at the same time.
• A refund of 50% of the cost of dental and optical care
• A lump sum payment per child born

Benefits from hospital cash schemes are tax free.