Advance corporate health insurance helps keep your employees fit, well and working, with fast access to expert treatment and support when they need it.
Since November 2015 Insurance Premium Tax (IPT) has been steadily on the rise, doubling from 6 per cent to 12 per cent in a little over 18 months.
These changes mean that, for organisations negotiating health insurance contracts from June 2017, prices are more likely to increase again. This is compounded by the continuing upward pressure on private healthcare costs that has seen the cost of providing cover steadily increase for the last 20 years. Considered against the pressure employers are facing to manage payroll costs, PMI could find itself taking an even larger share of an organisation’s available benefits budget when the IPT hike is factored in.
While this may, on the face of it, present a less than rosy picture, it doesn’t have to be this way. Whether you have the support of an adviser or confident to search for alternatives yourself help is at hand for larger organisations where the rise in IPT can prove to be a considerable rise in cost, in the form of a Health Trust.