‘Hands off health insurance premiums!’ - plans to lobby the government with a petition signed by thousands users of private medical insurance and health cash plans against the forthcoming rise in IPT will be announced at the Association of Medical Insurers and Intermediaries (AMII)’s AGM.
With no change in the Budget earlier this month to a planned increase in Insurance Premium Tax (IPT) to 12% from 1 June, AMII plans to use the AGM to announce a Parliamentary Petition action plan to raise public awareness about the impact of IPT increases.
Stuart Scullion, AMII Chairman, said: “HM Treasury has viewed IPT as low hanging fruit for generating revenue with three increases in the last two years – we believe a petition with the support of people throughout our industry will send a clear message: ‘Hands off health insurance premiums!’
“AMII has a responsibility to lobby Government in the interests of health providers, intermediaries, employers, consumers and the NHS but we need the support of every AMII member to get behind the initiative, starting by attending the forthcoming AGM on 22 March.
"Increases in IPT affect the NHS as much as the private health sector. With the taxman taking an additional £120 in IPT for every £1,000 premium charged it is no wonder some buyers of health insurance and health cash plans are saying ‘enough is enough’, cancelling their PMI and relying on an already overstretched NHS.
“For many employers and employees IPT represents a triple taxation. Retirees and mature consumers are cancelling their healthcare cover and relying on the NHS as IPT adds further pressure on affordability.
“We will launch our petition at the AGM and are aiming to get up to 100,000 signatures in the six months afterwards to demonstrate to the Government the real strength of feeling about IPT rises in our industry and amongst the users of healthcare insurance.”
The AMII AGM will be held on March 22 at Whittlebury Hall, in Northamptonshire, between 10.30am and 3pm and offer the opportunity to hear from industry experts on key issues impacting the healthcare insurance sector.
The day will see a mix of keynote presentations, masterclasses, debate and discussion on a range of topics, together with plenty of opportunity to network.
Speakers will include Alex Perry, CEO of Bupa Insurance Ltd, who will outline why he believes the industry must work harder to demonstrate the value of health insurance and independent healthcare to the UK economy and the wider health and well-being of the nation.
Other speakers attending the event are Athos Rushovich, Head of Intermediated Sales at VitalityHealth, Steve Mills, Founder of the Prudent Marketing Company, and Branko Bjelobaba, Director of Branko Ltd and AMII's compliance partner.
To register a delegate place at the AGM CLICK HERE