Engage moves into health cash plan market

Engage Mutual is entering the health cash plan market with the announcement of a new partnership with Wakefield & District Hospitals' Contributory Scheme Ltd (WDHCS).

This initial move by Engage is part of a larger ambition to develop a significant presence in the health cash plan market, and builds on the Mutual's strategy to provide a comprehensive range of simple, relevant products to assist families' financial planning.

WDHCS' Premier Health Benefits healthcare cash plan currently has 30,000 policy holders who will join Engage on 31 July, retaining their existing cover and benefits. The health cash plans will be marketed under the Engage brand.

Chief Executive, Andrew Haigh stated: "The health cash plan market covers just 8% of the UK population at present, but has great potential for significant growth, both within the corporate and consumer sectors. The partnership with WDHCS strengthens our presence in the Yorkshire area, which we will be seeking to consolidate before rolling out more widely. "

"We know that consumers are concerned about the economy, and its impact on their finances. Combined with the ever growing pressures placed upon the NHS, we believe that more people should consider health cash plans as part of their financial planning to help them prepare for unexpected hospital, dental and optical costs."