IPT rise on medical insurance needs withdrawing
AMII calls for the planned Budget increase on Insurance Premium Tax to be withdrawn
At its annual conference today, the Association of Medical Insurance Intermediaries (AMII) slammed the 1% rise in IPT (Insurance Premium Tax) from 5% to 6% (+20% increase) on medical insurance announced in last week's Budget as it puts the NHS under even greater pressures.
Michael Payne, AMII's General Secretary said, "Although the Government has made a commitment to maintaining NHS front line services, BMA research this week has shown many NHS organisations are already facing potentially devastating cuts to jobs and services with long-lasting consequences for the NHS and patients.
"Every treatment made in the private sector helps relieve pressure on NHS resources. So an increase in IPT and the cost of medical insurance will result in some people being deterred from continuing with or taking out such insurance for when they need medical treatment and if that happens they will remain totally reliant on the NHS.
"Our conference today is discussing Working Together for a Healthier Nation and this IPT decision shows once again that Government departments cannot work together as this decision made by the Treasury has far reaching consequences for the Department of Health."
AMII is also concerned that HM Treasury has gone against the work of the Department of Business Innovation and Skills in encouraging employers to play a greater role in the health and well-being of their employees. This is highlighted by employers having to pay an even higher National Insurance, increasing to 13.8% from next April, on benefits-in-kind which include medical insurance premiums paid on behalf of employees.
Payne concluded, "We hope the Chancellor reviews this particular tax rise before the Finance Bill is passed and withdraws the planned increase. It makes no sense to Britain's economy, no sense to the NHS, and no sense in encouraging individuals to take greater responsibility for themselves and in this instance their medical treatment and wellbeing."
2010-07-01
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The Association of Medical Insurance Intermediaries (AMII) is available and always willing to contribute on medical insurance & healthcare issues.
When you require input from AMII please contact:
Martin Wood, Concise PR
Direct tel: 01252 656435,
Mobile: 07946 527240
or
Stephanie Spicer, Concise PR
Direct tel: 01234 772078,
Mobile: 07879 811102
Alternatively:
Chairman
Andrew Tripp
Tel: 0845 862 7000
Mobile: 07770 387524
or
General Secretary
Michael Payne
Tel: 01206 731181
Mobile: 07971 231869