Private medical insurance fall will slow

Tue, 29 Jul 2008

According to independent analyst Laing and Buisson, the recent fall in demand for private medical insurance will tail off shortly.

Despite reports earlier this year that over seven million people in total have private health insurance, and strong sales of this insurance product, PMI is apparently in a downward spiral. However, this downward trend is reportedly slowing, according to the Health and Care Cover report.

According to the report: "Individual policyholders have fallen from a peak of 1,457,000 in 1996 to a low of 1,091,000 at the end of 2007, but a reported pick up in individual PMI demand by several leading insurers in the first half of 2008 suggests that the falling trend may level off this year."

The head of personal markets at BUPA UK Health Insurance, Fiona Harris, was reported as commenting: "Increased investment and encouraging employers to take more responsibility for their employees' needs in these areas is central to the future. Although there has been a raft of Government initiatives, feedback we have received suggests that the current tax treatment of workplace health benefits is an obstacle. Remove it - and companies will have a real incentive to play their part in keeping Britain healthy."
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