The Association of Medical Insurers and Intermediaries has launched a petition against the rise of IPT at their recent AGM.
IPT has risen 3 times in the last 19 months and as of 19th June will sit at 12%. So for every £1000 in premium paid the government will take £120 in IPT.
As a result of the announcement of the General Election on the 8th June however, the closing date for the petition has had to be changed. Although originally the petition was to remain open for a six month period (closing on 5th October 2017) the petition must stop from 3rd May until after the election. The current petition will still be available to view online but will be closed for signatures. It will re-open after the election.
AMII need to gain 100,000 signatures on the petition in order for it to reach parliament for debate and would like everyone to join them and sign the petition. The increases in Insurance Premium Tax will effect anyone who has a private medical insurance policy and therefore it is in everyone’s interest for the petition to reach a parliamentary debate.
The petition is asking for Health Insurance to become exempt from IPT in the UK helping people to protect their health and reducing the strain on the NHS.
If you are involved in the sale of health insurance then it is important that you make sure you get behind the petition when it re-opens after the general election and if everyone who has a health insurance policy is made aware of the petition raised by AMII and agrees to sign it then AMII should have little problem in reaching the 100,000 signatures that it needs.
AMII will provide more information as to the re-opening of the petition.
all information has been sourced from the AMII website and more details can be found at: http://amii.org.uk/ipt-petition