HEALTH SHIELD TO ABSORB IPT ON BEHALF OF ITS MEMBERS
Award-winning health cash plan provider Health Shield has revealed that it will cover the
insurance premium tax (IPT) rise for its cash plan members until 2017. It is believed that
Health Shield is the first health insurance provider to make this type of announcement in
response to the recent IPT increase.
In the summer budget Chancellor George Osborne announced a more than 50% increase in
the rate of IPT from 6% to 9.5% and Health Shield has promised its premiums will not be
affected by the rise for the next 17 months.
Health Shield Chief Executive, Jonathan Burton, said: “Following the recent 3.5%
increase in IPT announced in the summer budget, Health Shield is pleased to announce that
we will absorb the impact of the IPT increase for all members until the end of 2016. This
means that our premiums will not be impacted by the IPT increase for at least the next 17
months.
“We are aware that insurance can sometimes be the first thing to be sacrificed when budgets
are tight and so we believe this is the right thing to do for our members. While we cannot
comment on any future changes the Government may make in regards to IPT, our members
and brokers can be confident knowing that we will continue to do all we can to treat our
members fairly.”
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For further information please contact:
Kevin Carr, Carr Consulting & Communications
Matthew Morris, Carr Consulting & Communications
07887 838811
07717 420693
About Health Shield
Established in 1877 Health Shield is an award winning and market leading provider of Health Cash
Plans and health and wellbeing benefits. Health Shield is a non-profit making Friendly Society without
shareholders, operating for the benefit of all our members. We are committed to providing
competitively priced products that are sustainable and affordable, and strive to enhance our award
winning reputation in the market.
www.healthshield.co.uk