![]() | |
Industry | Health Insurance |
---|---|
Predecessors | Hospital Saving Association Manchester & Salford Hospital Saturday Fund Leeds Hospital Fund Healthcare Insurance Alliance |
Founded | 1872 |
Headquarters | , United Kingdom |
Website | www |
Simplyhealth is a provider of health cash plans in the United Kingdom. The scheme is an amalgamation of a number of schemes, with the earliest dating from 1872. Members can claim back cash costs from various services from the NHS or private provision, such as dental care, optical care, prescriptions and physiotherapy, as well as having access to services such as remote telehealth consultations with a general practitioner.
The first element of what is now Simplyhealth was the separate formation of the Manchester & Salford Hospital Saturday Fund and the Leeds Hospital Fund, which were both constituted in 1872. [1] Both organisations followed a similar 'hospital Saturday' approach in fundraising for their local hospital. [2] [3] These were named Saturday funds, as this was traditionally payday for workers, when they could make their contributions to the hospital. [4]
The Hospital Saving Association (HSA) was founded in London on 11 July 1922, [5] focused on providing cover for working people, with both member and their employer contributing. [6] [7] [8] The association was formed as limited liability, but non-profit. [9] Those taking part in the scheme were exempted from charges at the London Hospital (now the Royal London Hospital) and other voluntary hospitals taking part in the scheme. [10]
By 1944, the HSA had distributed over ten million pounds to hospitals in London. [11]
Following the launch of the National Health Service (NHS) in England in 1948, the schemes evolved, but continued their system of membership and payments. [12] The Health Saving Association was one of only 30, out of more than 250, contributory schemes which continued following the founding of the NHS, [13] albeit with a 30% drop in membership in the following year, down to £1 million. [14]
From 1947, the HSA offered scholarships for trained nurses to improve their skills in areas such as public health, dietician training, and health visiting. [15]
As a non-profit association, the HSA had Queen Elizabeth II as its patron. [16]
In 1999, the Manchester & Salford Hospital Saturday Fund merged with the Healthcare Insurance Alliance, and began to trade as HealthSure. [3] [17]
The Health Savings Association (HSA), merged with the Leeds Hospital Fund in 2002. [18] [19]
In 2005, HSA (including the LHF) and HealthSure (including the Manchester & Salford Hospital Saturday Fund and Healthcare Insurance Alliance) all merged, [20] [21] [22] but remained trading as separate companies.
The merger was subject to scrutiny by the Competition and Markets Authority, but was passed, as it was not expected to result in a substantial reduction in competition in the market. [23]
The Simplyhealth brand was introduced in 2009, resulting in the retirement of the legacy brand names such as HSA and HealthSure. [24] [25] [26]
Dental health plan provider Denplan was acquired from AXA in 2011, for the sum of £115m. [27] [28] [29]
The private medical insurance operation of Simplyhealth (as opposed to the cash plans which form the majority of Simplyhealth's business) was sold to AXA PPP in May 2015, along with the Bristol operations of the business, [30] [31] following regulatory approval. [32] [33]
The company took a majority stake in eyecare-specific provider Ocuplan in May 2022. [34] [35]
Simplyhealth's core service is as a provider of health cash plans, where members receive included treatment or cash payment, in return for a monthly fee.
Members also have access to remote telehealth GP consultations through a smartphone app as part of their membership. [36] [37]
Simplyhealth is the market leader in retail cash plans, with around 60% of the market. [38]
In the corporate market, Simplyhealth is the second largest provider (behind Health Shield), with over 300,000 people covered in 2020. [39]
In 2017, Simplyhealth was announced as the title sponsor of the Great Run series of running events, including the Great North Run, which is the second largest half-marathon in the world, and became branded the "Simplyhealth Great North Run". [40] [41] [42] [43]
Also in 2017, the Simplyhealth Professionals business launched sponsorship of the 'Boundaries for life' programme, providing health screening at cricket matches. [44]
In 2019 the company became an official partner of England Rugby in a five-year sponsorship deal. [45]
Following the COVID-19 pandemic, Simplyhealth sponsored Sported to support community groups back into activity. [46] [47] [48]
Simplyhealth became certified as carbon neutral in 2020, and became "carbon neutral +" in 2021. [49] This sustainability initiative also involved becoming certified by the Forest Stewardship Council. [50]
In 2022, it was awarded B corporation status for social and environmental performance. [51] [52] [53]
Health insurance or medical insurance is a type of insurance that covers the whole or a part of the risk of a person incurring medical expenses. As with other types of insurance, risk is shared among many individuals. By estimating the overall risk of health risk and health system expenses over the risk pool, an insurer can develop a routine finance structure, such as a monthly premium or payroll tax, to provide the money to pay for the health care benefits specified in the insurance agreement. The benefit is administered by a central organization, such as a government agency, private business, or not-for-profit entity.
The Cigna Group is a for-profit American multinational managed healthcare and insurance company based in Bloomfield, Connecticut. Its insurance subsidiaries are major providers of medical, dental, disability, life and accident insurance and related products and services, the majority of which are offered through employers and other groups. Cigna is incorporated in Delaware.
A health savings account (HSA) is a tax-advantaged medical savings account available to taxpayers in the United States who are enrolled in a high-deductible health plan (HDHP). The funds contributed to an account are not subject to federal income tax at the time of deposit. Unlike a flexible spending account (FSA), HSA funds roll over and accumulate year to year if they are not spent. HSAs are owned by the individual, which differentiates them from company-owned Health Reimbursement Arrangements (HRA) that are an alternate tax-deductible source of funds paired with either high-deductible health plans or standard health plans.
Axa S.A. is a French multinational insurance company headquartered in the 8th arrondissement of Paris. It also provides investment management and other financial services.
Blue Cross Blue Shield Association, also known as BCBS, BCBSA, or The Blues, is a United States-based federation with 34 independent and locally-operated BCBSA companies that provide health insurance in the United States to more than 115 million people as of 2022.
Western Provident Association (WPA). formerly is a not-for-profit private medical insurance firm and provident association based in Taunton, Somerset, England. Its subsidiary, WPA Protocol Plc, administers corporate healthcare trusts.<
Consumer-driven healthcare (CDHC), or consumer-driven health plans (CDHP) refers to a type of health insurance plan that allows employers and/or employees to utilize pretax money to help pay for medical expenses not covered by their health plan. These plans are linked to health savings accounts (HSAs), health reimbursement accounts (HRAs), or similar medical payment accounts. Users keep any unused balance or "rollover" at the end of the year to increase future balances or to invest for future expenses. They are a high-deductible health plan which has cheaper premiums but higher out of pocket expenses, and as such are seen as a cost effective means for companies to provide health care for their employees.
In the United States, a high-deductible health plan (HDHP) is a health insurance plan with lower premiums and higher deductibles than a traditional health plan. It is intended to incentivize consumer-driven healthcare. Being covered by an HDHP is also a requirement for having a health savings account. Some HDHP plans also offer additional "wellness" benefits, provided before a deductible is paid. High-deductible health plans are a form of catastrophic coverage, intended to cover for catastrophic illnesses. Adoption rates of HDHPs have been growing since their inception in 2004, not only with increasing employer options, but also increasing government options. As of 2016, HDHPs represented 29% of the total covered workers in the United States; however, the impact of such benefit design is not widely understood.
Laya Healthcare is a health insurance company in Ireland. Its headquarters are in Little Island, County Cork. It is regulated by the Health Insurance Authority.
In the United States, health insurance helps pay for medical expenses through privately purchased insurance, social insurance, or a social welfare program funded by the government. Synonyms for this usage include "health coverage", "health care coverage", and "health benefits". In a more technical sense, the term "health insurance" is used to describe any form of insurance providing protection against the costs of medical services. This usage includes both private insurance programs and social insurance programs such as Medicare, which pools resources and spreads the financial risk associated with major medical expenses across the entire population to protect everyone, as well as social welfare programs like Medicaid and the Children's Health Insurance Program, which both provide assistance to people who cannot afford health coverage.
Healthcare in Singapore is under the purview of the Ministry of Health of the Government of Singapore. It mainly consists of a government-run publicly funded universal healthcare system as well as a significant private healthcare sector. Financing of healthcare costs is done through a mixture of direct government subsidies, compulsory comprehensive savings, national healthcare insurance, and cost-sharing.
Nuffield Health is the United Kingdom's largest healthcare charity. Established in 1957 the charity operates 31 Nuffield Health Hospitals and 114 Nuffield Health Fitness & Wellbeing Centres. It is independent of the National Health Service and is constituted as a registered charity. Its objectives are to 'advance, promote and maintain health and healthcare of all descriptions and to prevent, relieve and cure sickness and ill health of any kind, all for the public benefit.'
The British United Provident Association Limited, trading as Bupa, is a British multinational health insurance and healthcare company with over 43 million customers worldwide.
Guardian Royal Exchange Assurance plc was a large British insurance company. It was listed on the London Stock Exchange and was a constituent of the FTSE 100 Index.
Engage Mutual Assurance was a financial products provider based in Harrogate, North Yorkshire. It operated as a mutual friendly society with no shareholders, and was owned by its 500,000 members.
India has a multi-payer universal health care model that is paid for by a combination of public and government regulated private health insurances along with the element of almost entirely tax-funded public hospitals. The public hospital system is essentially free for all Indian residents except for small, often symbolic co-payments in some services.
Open Referral in private medical insurance refers to the practice of a General Practitioner referring patients to any consultant with a particular speciality for treatment rather than explicitly naming a specific consultant. The insurance company will then choose a consultant that has the speciality specified from an approved list that they maintain or offer a choice of two or three consultants from this list for the patient to decide between.
Healthcare in the British Virgin Islands is predominantly provided by private healthcare providers with an overlay of public support. There is a single public hospital in the British Virgin Islands - Peebles Hospital in Road Town on Tortola. There is also one private hospital - the Bougainvillea clinic. On Anegada, Virgin Gorda and Jost Van Dyke, there are day clinics to serve non-emergency medical needs of residents of those islands. Although there is periodic discussion about the possibility of building another hospital on Virgin Gorda, to date there has been no commitment to doing so. For emergency medical evacuations from other islands a boat is maintained.
The "Greater Manchester Model" of NHS health care was a system uniquely devolved within England, by way of close integration with the Greater Manchester Combined Authority and local authorities, led by the Mayor of Greater Manchester. In July 2022 the Greater Manchester integrated care system took over responsibility for health and social care in the conurbation. The financial plan for 2022–23 had an initial shortage of £187 million.
Healthcare in Derbyshire was the responsibility of five clinical commissioning groups covering North Derbyshire, Southern Derbyshire, Erewash, Hardwick, and Tameside and Glossop. North Derbyshire, Southern Derbyshire, Erewash and Hardwick announced in November 2018 that they planned to merge.