ABI figures reveal rise in take but Bupa calls for tax changes
Association of British Insurers (ABI) figures show a 2.7% rise in the number of people covered by private medical insurance (PMI) to 7,335,000.
These include:
- 6,224,000 with personal or corporate private medical insurance
- 1,111,000 covered through Healthcare Trust arrangements
Nick Starling, the ABI's director of general insurance and health, said: "The continued rise in the number of people covered by PMI is good news. PMI gives people the peace of mind that they are able to get access to the treatment they need, at the time they need it, where they need it.
"PMI is good for companies and the economy because it enables employees to get back to work after illness or injury as quickly as possible. This is why there has been a continued rise in the number of people covered by corporate policies."
Fiona Harris, director of Bupa UK Health Insurance, said: "The latest ABI figures reflect our own experience - growth in the number of people with PMI cover for the second year running, despite the current economic downturn."
"In today's instant-access society, where you can order your shopping online with same day delivery, waiting 18 weeks - or almost four-and-a-half months - for treatment is just too long."
Tax changes needed
Bupa’s Harris said: "The current tax treatment of workplace health benefits is an obstacle which, if removed, would allow more companies to play their part in keeping Britain healthy. Our own research of corporate clients shows that nine out of ten employers want to see support from the government. Half would invest more in employee health and wellbeing if there were financial incentives to do so.”
