In the wake of the Labour Party Conference, here’s some commentary from Paul Schreier, CEO of Simplyhealth on the topic of private health insurance in the workplace;
“Wes Streeting started his speech by recalling how a woman called Clare, a stage 4 cancer patient, had messaged him to say that when she felt pain two years ago, she struggled to get diagnosed on the NHS. Her employer provides health insurance and for the first time in her life, Clare used it. Now she’s been able to live her life to the full, including getting married in Ibiza.
“We welcome the Labour Party’s acknowledgement of the vital role that employers can play in supporting access healthcare. However, what is missing from the picture is the fact that only approximately one in ten people have any form of private healthcare, and the value that employers themselves can bring is not being leveraged.
“Employer-provided health cover doesn’t have to be expensive or only for the few. We know from the thousands of businesses we partner with that our low-cost health plans are helping working people, from lorry drivers to supermarket shelf stackers, teachers and posties. The health plans have been designed to be affordable so businesses – even small ones – can offer them to their whole workforce. It shouldn’t be the case that only senior members of staff receive health cover as is common with other forms of more expensive private medical insurance.
“2.8 million people of working age are currently economically inactive, on long term sick, so it is in employer’s best interests to provide health cover to keep them in work. The Labour Party already agree that without action on prevention, the NHS will be overwhelmed.
“We have to improve access to all forms of healthcare, and the time to act is now. A new report by the Institute of Public Policy Research warned last week that, based on current trends, the number of people on long-term sick leave is set to rise to more than 4.3 million people, up by more than 50 per cent in the next five years.
“We polled businesses and over 70% told us they feel a greater responsibility to look after their employees’ health due to longer waiting times. We must harness this enthusiasm as a moral and practical imperative, and reduce some of the barriers that are in place for employers providing health cover such as the excessive tax burdens for both employer and employee.
“Since 2015, the rate of Insurance Premium Tax has doubled from 6% to 12%. This must be addressed if we want to get Brits back to health and back to work. While we all want to see the NHS thrive, it cannot support everyone alone. We have to maximise every solution possible to ensure that no one is left waiting for treatment.”
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