As businesses continue to tighten their belts for the coming year, some companies have seen a healthy increase in customers looking to cut costs.
One such group is Bradford-based Sovereign Health Care, which has reported a rise in sales as businesses and individuals look towards affordable alternatives to traditional private medical insurance.
In the eleven months to November 30, the not-for-profit group showed a 46 per cent like-for-like increase on plan sales for the same period in 2007 – and sales show no sign of slowing.
Chief executive David Lewis said he has never before seen such a rise, adding that their new ‘go-active’ plan has proved an attraction for some customers.
Sovereign’s ‘go-active’ plan offers cash benefits for staff, including money back on optical, dental and other health care associated bills. It also provides free counselling and access to a 24-hour confidential telephone helpline.
Mr Lewis said: “I think people have seen they are definitely now going to have to tighten their belts “But I think some people predicted the economic change downturn and they have seen traditional medical insurance, like Bupa, as something to cut down.”
And Mr Lewis said he predicts sales to continue to rise in the next year, although not as spectacularly as they did in 2008.
He said: “I think our sales will continue to increase but certainly I don’t envisage to the same extent as this year.
“And we would be looking to increase certainly ten per cent on the membership total.”
Lynn Mullen, human resources director for The Direct Marketing Group, in Shipley, is one of those to sign up to the ‘go-active’ plan.
She said: “We like ‘go-active’ because we feel the benefits are very relevant to staff and it also addresses our company duty of care responsibilities and HSE regulations.”
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