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The importance of an employee health plan
Picture life in 1873... Queen Victoria was on the throne, Charles Darwin was revolutionising science with evolutionary biology and the NHS was still 75 years away from creation. But 1873 was a special year as the Hospital Saturday Fund was born! Their history traces back to a visionary philanthropist, the esteemed 12th Earl of Meath Reginald Brabazon who founded the Hospital Saturday Fund, a means for hardworking individuals to cover their medical expenses.
Healthcare landscape in 1873
In 1873 health services heavily relied on the efforts of volunteers within hospitals, in addition to the workhouse infirmaries. Malnutrition, overcrowding, poverty, and ill health prevailed but against this severe backdrop, Reginald Brabazon alongside other pioneers waged a passionate campaign, to spotlight these conditions, seeking national attention and change.
The Hospital Saturday Fund is born
In London's Hyde Park in 1873, an appeal was made for the inauguration of a fund that would enable employees to contribute a modest weekly amount to access affordable healthcare in hospitals, a ground-breaking concept for its time. It was an era when payday fell on a Saturday, therefore each Saturday, working men contributed to this fund with their collected wages. Hence the name ‘The Hospital Saturday Fund’.
In a significant milestone, The Hospital Saturday Fund received its Certificate of Incorporation under the Companies Act in February 1890. This official recognition cemented the Fund's enduring commitment to its mission.
Making a difference
Providing accessible healthcare wasn’t the only aim of the fund. All the proceeds from the health plans were granted to hospitals, hospices and medically associated charities to support and advance healthcare in local communities.
Fast forward to the present day, HSF Health Plan partners with over 1,300 organisations providing health plans for 187,000 individuals across UK, Ireland and Malta. Committing to empowering individuals to prioritise their health and well-being, HSF Health Plan still embodies the ideals set out by The Hospital Saturday Fund's founders.
Since its change of incorporation to a registered charity in 2008, over £15 million has been granted to medically associated charities across the three regions where the plan operates. In 2023 the grants will exceed £2 million which will be the largest grant amount in any single year.
So, why should companies get a health plan for their employees?
HSF understands from the 1300 organisations that have a health plan for their employees, that the current high inflation issues are an increasingly growing concern for employees. As many strive to maintain their standard of living, employers are eager to alleviate employee struggles. That’s where HSF health plans come in, as policyholders get cash back on everyday health from dental and optical (prescription glasses and sunglasses) to physiotherapists to chiropractors. This means employees don’t abandon their personal health which enhances their well-being and their bank balance isn’t affected.
Empowering employers to support their employee’s health and well-being not only benefits individuals but has huge benefits for the business. Having HSF Health Plan can:
- Reduce absenteeism by empowering employees to stay healthy.
- Help to attract and retain top talent as a valuable employee benefit.
- Increase productivity as employees feel engaged and motivated in their work.
- Improve employee morale and create a positive workplace culture as employees recognise their employer cares about their well-being.
