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Multi-Employer Trust
What is a Multi-Employer Healthcare Trust?
A Multi-Employer Healthcare Trust (MET) is an alternative way for small to medium sized businesses to access the benefits of Healthcare Trusts normally only available to large corporate entities.
Instead of paying premiums to an insurance company, the money is placed in a collective Healthcare Trust fund which is used to pay employee private medical claims.
An MET allows similar sized businesses to collaborate; bringing their collective spend up and individual prices down.
If the claims fund is not completely used in any given year then the balance remaining can be used to smooth the impact of claims spend in future years.
Benefits of a Multi-Employer Healthcare Trust
Better benefits
By teaming up with other businesses in the trust, you’ll maximise your collective buying power.
Low risk
Thanks to the unique way our Multi-Employer Trust is set up, extra safeguards are put in place to reduce the volatility of your trust. This brings the peace of mind that comes with knowing that your future costs are reasonable and sustainable.
Easy to manage
Joining our MET couldn’t be easier. Healix will put robust legal documentation in place to safeguard your healthcare scheme and give your employees full access to their benefits via an online portal.
Clinician-led expertise
Our nurse-led approach means that each and every claim – irrespective of its cost or complexity – is given the right clinical pathway from the start. For your employees, this means greater efficiency with no unnecessary delays.
Which healthcare services are available through our MET?
24-hour GP
Receive the care you need, when you need it the most, wherever you are in the world. With our 24/7 GP, trust members can attend online appointments or access private prescriptions, all from their smartphone.
Mental health provisions
Approximately 1 in 4 people will experience a mental health difficulty this year. Healix provides the support you need to promote a healthier work environment for employees.
Cancer care
We work with oncology specialists to ensure, where possible, the latest treatment and drug developments are available to all members of our MET.
Healix wellbeing resource
Healix’s Positive Occupational Wellbeing Resource (POWR) helps your team to pinpoint the areas in their life which aren’t going as well as they should.
FAQs
New to Multi-Employer Trusts? We’re on hand to answer your questions, big and small. Have something specific to ask? Contact Healix today.
Is there a minimum number of employees required?
Yes. METs can be offered to companies where there is an opening employee membership of 25 or more.
What happens if a large claim is made by another business in the trust?
If another company within the MET makes a sizeable claim, this won’t affect the type of benefits that your employees enjoy. Healix will arrange a 100% aggregate Stop Loss insurance as a minimum requirement which will protect your benefits and future costs in case of a large individual claim.
Can new businesses join the MET throughout the year?
Yes. Although there will only ever be one renewal date, which each of the businesses in the trust will keep to, new companies can join the MET throughout the year. Their premiums will be prorated to fit in with the renewal date. All costs must be paid annually, and in advance.
What happens to any unclaimed funds?
Thanks to the unique way our MET is set up, any unclaimed funds will always remain within the healthcare trust to stabilise it for future years.
Does each business in the trust pay the same amount?
No. The overall cost for your company will depend on how many employees you have, their ages and the split of member types – so whether the benefits can be used by your employees’ family or partner.
That being said, some of the costs from the fund – things like the administrator fee, IPT and VAT – will be the same for each company.
Can I cancel at any time?
If, once your fund is set up, you decide that an MET isn’t for you, it’s easy to withdraw your business from the trust. Just let us know that you’ve changed your mind and we’ll arrange this for you. If there are any funds that you haven’t used after you leave, these will remain in the trust and cannot be transferred back to you.
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