Promoting wellbeing through health
Ray Micallef, general manager of HSF Health Plan (Malta), believes employers are seeking outpatient and inpatient benefits for their workforce.
For those who don't know your company, can you provide some background?
HSF Health Plan (Malta) is a provider of health cash plans tailored for employers across the Maltese islands. It is the trading company of The Hospital Saturday Fund – a grant-making charity which supports medically associated charities in Malta, the UK, and Ireland.
Originally established in 1873, we offer affordable, flexible health plans that reimburse everyday health expenses such as dental, optical, GP visits, physiotherapy, and specialist consultations. Our mission is to enhance employee wellbeing while supporting charitable causes.
Built with simplicity in mind, our plans strike a balance between meaningful employee support and operational ease for employers – offering a cost-effective way to prioritise wellbeing without adding administrative complexity.
Can you share a little-known fact about your company?
All profits generated by HSF Health Plan (Malta) Ltd are directed to The Hospital Saturday Fund, which supports health-related charities and individuals in need. In Malta, the charity has provided grants to organisations like Hospice Malta, the Richmond Foundation, and Smiling with Jerome, contributing to initiatives ranging from mental health support to pediatric cancer care.
What are you currently working on and what are your company's plans and strategic priorities for the coming years?
We're focused on expanding our presence in the Maltese corporate market through our flagship Everyday Wellness and Colleague Care schemes. These plans offer comprehensive outpatient and inpatient benefits, designed in response to employer feedback. Our strategic priorities include:
- Enhancing partnerships with insurance brokers and intermediaries to broaden our reach;
- Continuing to provide exceptional customer service, with an average claims turnaround time of 2–3 days;
- Developing innovative health benefits that address the evolving needs of employers and employees.
Are there any projects/achievements of your company that you are exceptionally proud of?
Yes, several milestones stand out:
- Achieving the Customer Service Excellence accreditation in 2024, reflecting our commitment to high-quality service;
- Launching the Colleague Care scheme, which combines outpatient and inpatient benefits, as a direct response to employer feedback;
- Establishing partnerships with organisations like APS Bank and the Foundation for Human Resources Development (FHRD) to enhance employee wellbeing; and
- Providing €30,000 in grants to six health-related Maltese charities in 2025 through our parent charity, The Hospital Saturday Fund, reinforcing our dedication to community support.
What, in your opinion, makes Malta an effective jurisdiction to set up a business?
Malta offers a robust and transparent regulatory framework under the Malta Financial Services Authority, ensuring consumer protection and market integrity. Additionally, there's a growing appetite among Maltese employers for innovative employee benefits, aligning well with our health cash plan offerings.
What kind of people/companies in the financial services community would you want to connect with?
We're keen to connect with:
- HR and wellbeing leaders in financial services firms looking to enhance their employee benefits.
- Brokers and intermediaries interested in distributing health plans to corporate clients.
Our goal is to collaborate with organisations that value employee wellbeing and are committed to providing comprehensive health benefits.
Bio:
Ray Micallef is the general manager and executive director of HSF Health Plan (Malta) Ltd. With over 25 years' experience in Malta's health insurance sector, Ray has held senior roles across underwriting and operations. He is a Registered General Nurse, holds an MBA from Henley Business School, and is an Associate of the Chartered Insurance Institute.
Ray also lectures on health insurance and management, and is passionate about supporting employee wellbeing through accessible and sustainable benefits.
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