Building on the success of their 150th anniversary year in 2021, leading health plan provider Medicash are celebrating a record-breaking increase in policyholders as they announce their annual results for 2022. In its fastest-growing year on record, the company closed the year with 482,000 policyholders on its books – marking a net increase of over 125,000 new policies in one year.
Seeing its policy base surge by an incredible 35% in 2022 makes this Medicash’s most successful year for growth in its 150-year history. This dramatic growth comes alongside industry recognition, with Medicash receiving three separate awards for Best Cash Plan Provider in 2022 by the leading industry publications.
“Even though we have been growing year on year, the number of policies sold this year has been truly exceptional and this reflects the hard work and commitment of the business to offer market leading products and services,” says Paul Gambon, Sales and Marketing Director for Medicash. “On average, we sold one new policy every two minutes in 2022, with sales up an incredible 84% on our previous record year.”
Gambon attributes much of Medicash’s success to an increased awareness of employee wellbeing among UK employers. “The demand for employee health benefits has surged in the wake of the cost of living crisis,” he says. “There has been a huge rise in employers looking to support their staff’s physical and mental healthcare costs, and a health cash plan provides the perfect means of doing so. It’s very rewarding to know that by offering modern, highly accessible plans at low costs, we’re facilitating better workplace attitudes toward health overall.”
At the centre of this incredible period of growth, says Chief Executive Sue Weir, is the high level of customer care that Medicash policyholders have come to expect. “Great service is at the heart of everything we do here at Medicash,” she says. “As our customer base grows ever larger, one of our top priorities has been to make sure that every policyholder receives excellent service, even at our busiest times.” Medicash’s investment in technology and its customer service has meant that amid this period of rapid growth, Medicash has been able to retain its 5-star Trustpilot rating from its policyholders, in addition to being re-accredited with a Gold Award from Investor in Customers once again for 2023, now holding the top award for more than ten years.
“I’m overjoyed to know that our health plans are providing more and more people across the UK with better access to healthcare in these uncertain times,” Weir says. “In addition to our dedication to customer service, we are continually looking for new ways to improve and develop our plans. With digital technology becoming more and more integral to everyday healthcare, our consistent investment in this area is a real driver for our market success – I can’t wait to see how this continues into 2023.”