HEALTHCARE TRUSTS - WHAT IS IT?

A trust is an arrangement by which, through a deed and the appointment of trustees, a legal entity is created entirely separate from your company. Corporate bodies commonly use trusts to provide pensions for employees.

Similarly, a healthcare trust can be set up specifically to pay medical benefits to the company’s employees, retirees and dependants.

Key facts

Recorded groups only.
100% company paid.
Corporate Health Plan benefits.
A stop loss insurance will be provided.
There will not be a charge to set-up a Trust.

Funding

All funds must be properly transferred to the trustees.
Each trust must have its own bank account.
All funds used to pay benefits must be paid into the trust bank account.

There are three elements:

Claims fund.
Risk charge (subject to IPT).
Administration fee (subject to VAT).

Why choose a Healthcare Trust?

Under current legislation it may be the most cost efficient means of funding your company healthcare scheme.
A Trust is not insurance and the claims fund is therefore not subject to IPT or PPB levy.
We are the leading administrator in the trust market place.
Expertise in handling claims.
Discretionary and non-discretionary.