Despite no further increases to Insurance Premium Tax (IPT) in yesterday's Budget, AMII is launching a campaign to raise public awareness about the impact of IPT on healthcare.
Stuart Scullion, chairman of AMII said: "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." AMII said that for employers and employers, IPT represents a triple taxation, while retirees and mature customers are cancelling healthcare cover due to affordability, falling back on the NHS. Scullion continued: "The Chan...
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