Proposed transfer of CS Healthcare’s members and business to Bupa
On 4th August 2020, Bupa and CS Healthcare announced a proposed transfer of CS Healthcare’s members and business to Bupa.
CS Healthcare is a Friendly Society with approximately 18,500 members and was originally established in 1929 to provide health insurance cover for members of the UK Civil Service. Bupa is the UK’s leading health insurer, established in 1947, and its purpose is to help people live longer, healthier happier lives.
The proposed transfer offers a number of benefits to CS Healthcare’s members. Bupa is well known for the standards of care it provides and has a strong commitment to maintain the highest level of customer service in the industry. Bupa’s strong financial position and presence in the health insurance market offers confidence in its sustainability and the ability to deliver affordable premiums over the long-term.
If the transfer is approved, following their first or second policy renewal, CS Healthcare members will benefit from greater access to even more health and wellbeing support including Bupa’s specialist support for cancer* and cardiac care, digital GP service, and direct access to treatment for a wide range of conditions without needing to see a GP first. They’ll also benefit from Bupa’s market-leading mental health cover, to support this important aspect of their health.
Over the last few years, CS Healthcare has been impacted by rising healthcare and administration costs and increased costs of regulatory compliance. This has led to premiums increasing and more customers leaving CS Healthcare than joining, impacting sustainability. Subject to regulatory approval, clearance from competition authorities and approval by CS Healthcare’s members at its AGM in September, the transfer is due to complete towards the end of 2020.
Alex Perry, CEO, Bupa Insurance said: “We’re very pleased that CS Healthcare has chosen Bupa to care for its members into the future. Bupa has been in discussions with the CS Healthcare Board and management for some time, and it’s clear that our organisations share similar values and cultures, with a strong long-term commitment to putting customers first. “We work hard to deliver the best healthcare for our customers. The transfer will give CS Healthcare members access to Bupa’s leading health expertise and pioneering support services to help them stay in control of their physical and mental health, including our enhanced range of healthcare services that can be accessed from home.”
Tom Gidaracos, Chief Executive, CS Healthcare said: “We are committed to ensuring our members have assured medical insurance and continuity of cover for their futures. “Changes in the private medical insurance market over the past two decades, as well as increased regulation and costs in the insurance industry mean that CS Healthcare’s members would benefit from joining a larger organisation. “Bupa will provide added security, continuity of cover and enhanced benefits to CS Healthcare members. As an organisation with no shareholders, and a similar ethos, we’re confident it’s the right home for our members and their future.”
More information can be found on Bupa's website.