'Health tax' holding back one in three UK businesses

Around 400,000 companies

Adam Saville
clock • 4 min read

Bupa reveals that a third of UK businesses turned down health cover because of Insurance Premium Tax

Insurance Premium Tax (IPT) is putting health insurance ‘out of reach' for an estimated 400,000 companies in the UK, a study supported by the British Insurance Brokers Association (BIBA) and the Association of Medical Insurers & Intermediaries (AMII) has suggested. The report by Bupa comes as industry bodies call for a cut to IPT in the Chancellor's next Budget (spring 2020). Last month the Association of British Insurers (ABI) reported a 10% health insurance decline in line with the rising tax. The increased cost of the tax, which has doubled in the past five years, was found to be t...

To continue reading this article...

Join COVER for free

  • Unlimited access to real-time news, key trend analysis and industry insights.
  • Stay on top of the latest developments around health and wellbeing, diversity and inclusion and the cost of living crisis.
  • Receive breaking news stories straight to your inbox in the daily newsletter.
  • Members only access to monthly programme 'The COVER Review'
  • Be the first to hear about our CPD accredited events and awards programmes.

Join now

 

Already a Cover member?

Login

More on PMI

Emma Thomson joins Reframe Cancer as consultant
PMI

Emma Thomson joins Reframe Cancer as consultant

Shaping protection proposition

Jaskeet Briah
clock 03 December 2024 • 2 min read
Record quarter for private hospital admissions
PMI

Record quarter for private hospital admissions

PHIN data

Cameron Roberts
clock 03 December 2024 • 2 min read
AXA Health names HBSUK CEO
PMI

AXA Health names HBSUK CEO

Supporting faster access to treatment

Jaskeet Briah
clock 03 December 2024 • 1 min read