Medical insurance sellers call for incentives to help employees
Chancellor’s Autumn Statement
The Autumn Statement includes what the Association of Medical Insurers and Intermediaries (amii) calls responsible public spending, tax cuts, welfare reforms and measures to encourage business investment.
These policies are expected to boost business investment, increase employment, and enhance the economy’s potential output.
David Middleton
It chairman, Dave Middleton, comments: ‘Chancellor Jeremy Hunt’s Autumn Statement is centred around incentivising work and reforming welfare to expand the workforce.
‘The industry recognises the importance of assisting individuals in returning to work after experiencing long-term unemployment caused by illness or disability. Utilising incentives instead of penalties may prove to be more effective and compassionate.
‘We believe that it is important for the Government to address the root causes of economic inactivity and provide support to individuals with fluctuating conditions who are not receiving the necessary assistance through the NHS. Implementing incentives for employer support can help prevent employees from leaving their jobs.
‘Employer-provided benefits, such as health insurance, can often reduce absence levels. Additionally, group income protection insurance can cover long-term sick pay and provide vocational rehabilitation to assist individuals in staying in or returning to work.
‘We strongly advocate for expanding workplace support to retain individuals with disabilities and those with health conditions. However, relying solely on “occupational health” is too limited.
‘Employers have broader options, such as health insurance, employee assistance programs, health initiatives and specialised support services provided through income protection insurance that includes vocational rehabilitation. All these measures enhance retention, productivity, health outcomes, and work participation.
‘At this stage, the Government has indicated that additional tax incentives may be introduced.
‘If the Government offers tax relief for options such as health insurance, employee assistance programs and wellness initiatives, and if employers combine these with strategies that promote prevention, productivity and improved health outcomes through employee retention, it will lead to increased employment and greater business productivity.
‘This, in turn, benefits society through higher tax revenue.’
