Employer offering free BUPA

masonsmum

I work for an electrical contractor and we are governed by the Scottish Electrical Association (SELECT) through them I am entitled to free BUPA Healthcare.

I know I prob sound daft but what are the benefits, this is what is outline on the form, is the sickness pay on top of SSP and what will the BUPA medical insurance cover?

Thanks in advance for any help?

Payable after 3 days absence, max 18 weeks in a two-year period.

Salary: £ 5,500 - £8,500 = £53 per week
£ 8,501 - £10,000 = £60 per week
£10,001 - £11,500 = £80 per week
£11,501 - £13,000 = £99 per week
£13,001 - £14,500 = £118 per week
£14,501 - £16,000 = £130 per week
£16,001 - £17,500 = £149 per week
£17,501 - £19,000 = £169 per week
£19,001 - £20,500 = £188 per week
£20,501 - £22,000 = £207 per week
£22,000 + = £226 per week

Death In Services Benefit

Salaried Staff 18+ = £30,000

Private Medical Insurance

BUPA Private Medical Insurance for Staff.

Free registration in the scheme after 18 months continuous service with employer.

InsideInsurance

So it sounds like there are three parts to it....

An Accident and Sickness policy which is the first part where you get additional money on top of your sick pay

Life insurance where your estate gets £30k if you die

Private Medical Insurance where you will receive private healthcare. This one you will need to look into in more detail as it can vary massively but typically it would mean if your GP wants to refer you to a specialist you can either go on the NHS waiting list or you can go straight and see a BUPA consultant instead.

Some of these, certainly the last one, will incur taxation even if you are given them for free.

Lovelyjoolz

So basically, they are offering you:

1. extra money when you are sick
2. 30K of live assurance
3. Private medical treatment

Its a very generous offer and one that I would snap up if I were you.

The Private Medical Insurance will incurr income tax based on the cost to insure you. For example, my company Bupa scheme covers an employee aged between 30-39 for £373.32 per month. That benefit will effective cost a 20% taxpayer £75(roughly) in tax for the whole year. I.e. MUCH less than it would cost if you took out a healthcare policy yourself.

And, if you need help to decide if it is worth £75 a year, my Father is alive and well today purely because his employer offered private healthcare. If it is offered to you, I would advise you grab it with both hands.

Hope this helps.