The Labour Party has disagreed with the insurance industry's view that private medical insurance [PMI] customers would cancel their policies in droves following further IPT increases by saying that there has been no discernible impact on customers cancelling policies in light of tax changes to PMI in the past.
In pre-election pledge this week, Labour Leader Jeremy Corbyn announced that a Labour government would increase IPT from 12% to 20% on private medical insurance policies in order to pay for free hospital parking. This would impact both individual and corporate policies. A Labour spokesperson told COVER that Labour Leader Jeremy Corbyn would seek to increase IPT on PMI and not on other general insurance policies such as home or motor insurance. Health Cash plans would also be made exempt from...
Some 85% of employees are more likely to work for employers offering clearly labelled benefits, research from Canada Life has found.
Wellbeing expert David Price discusses a range of practical ways employers can set about looking after the mental health of their staff during the seasonal period
The Financial Ombudsman Service (FOS) will maintain its current funding model for the next financial year despite recognising it is unsustainable in its current form.
The FCA has confirmed that, while businesses will have to identify certified staff from day one under the Senior Managers & Certification Regime (SM&CR), they will have a year to complete fitness and propriety assessments.