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BIBA seeks tax breaks for private medical cover holders

Published on 01/11/2010
Private medical cover customers could benefit from a tax break following an investigation into the issue by the British Insurance Brokers' Association (BIBA).

The organisation is to set up a working group to tackle the position of personal tax around those who take out health insurance.

Issues to be looked at include tax concessions for the over 60s and how the removal of concessions have impacted sales of health insurance.

Following the review, it will raise the issue with the relevant government officials.

Previously, those over 60 who took out health insurance were allowed a tax break, but this was withdrawn by the previous government, leading to a fall in uptake.

BIBA argues that this is placing a greater strain on the NHS.

Stuart Scullion, marketing director of Private Health Partnership, who will lead the group, said: "The insurance sector provides great support which relieves some of the pressures in the NHS.

"There has never been a better time to express to Treasury the important benefits of health insurance protection to the customer that insurance brokers can bring.

"We will be looking at both the individual and also the SME tax implications." 
© ActiveQuote Ltd. 2010

Categories:  Health Insurance
BIBA seeks tax breaks for private medical cover holdersPrivate medical cover customers could benefit from a tax break following an investigation into the issue by the British Insurance Brokers    tweet it on twittershare with your friends on Facebookshare with your friends on MySpaceBlog it on your LinkedIn profile

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