Driving down NHS wait times and tackling the burden placed on business owners – including insurance premium tax (IPT) are among the key areas advisers would like the country’s prime minister to address upon taking up residence in Number 10 Downing Street tomorrow morning.
As the UK’s population heads to the polls, Health & Protection asked advisers about what the PM’s priorities should be from Friday.
Isaac Feiner, managing director at Lifepoint Healthcare, told Health & Protection that as a health insurance intermediary and Association of Medical Insurers and Intermediaries (AMII) executive committee member he believes the next PM must ensure that the “stealth tax” placed on private medical insurance (PMI) policyholders through IPT and other taxes should be abolished.
“People taking responsibility to pay for the their healthcare and not being a burden on the NHS should be rewarded and incentivised – not penalised,” Feiner said.
“This is ever more critical given the sudden cost increases in the PMI healthcare market.
“The increases are causing exceptional pressure on policyholders, even leading to more lapses then usual citing affordability.”
NHS waiting lists are the priority
With opinion polls pointing to a Labour victory, Andrew Wilkinson, director at Moneysworth, maintained NHS waiting lists should be the priority.
“I expect Labour to win and to form the next government with a significant majority.
“I think the issue which could most positively impact our market in the short to medium term would be reducing NHS waiting lists.
“Not everyone on an NHS waiting list is at risk of a significant deterioration in their health as a consequence. However as the British Heart Foundation’s current campaign about the dangers in delays in cardiac treatment suggest, that risk is a real threat for many.
“How do long NHS waiting lists impact our protection insurance world?
In simple terms they have led to an increase in the number of consumers who find themselves blocked from access to protection insurance – leaving many more people and their families uncovered and therefore at risk of financial peril should the worst happen before the medical consultation can take place.
“This also means that the pool of potentially insurable customers for individual protection insurance in the UK has decreased as a result. Which in turn also creates a fundamental problem when looked through the FCA Consumer Duty lens which requires a focus on good outcomes.
“It is in the key interests of everyone, customers, advisers, product providers and regulator for NHS waiting times to be significantly reduced and for this to be given a priority.”
Tackling illegal immigration
But Sheun Oke, managing partner at Emergenzz Financial Services, is holding out hope the Conservatives emerge victorious.
“We need Conservatives in government to continue with all the plans that have already been set in motion to tackle most of the key election issues – one of which is immigration.
“Illegal immigration is one of the many key issues that have put a pressure on the NHS, school places, accommodation, etc.
“I believe a deterrent is important.
“I also believe if the manifesto promises are delivered, the NHS and dental care will be in a much better place.”
More borrowing and burden on business owners
Oke also maintained she felt that a Labour government will mean more borrowing and more burden placed on business owners like herself.
“And it will also result in more years of disfunctionality blaming the Conservatives for their failure,” Oke continued.
“So, as for me speaking as a parent and entrepreneur, we need to have the Conservatives in to complete all the good actions that have been set in motion.
“Going through all the other party manifestos, we know most of them are promises that may never come to fruition without putting more tax burdens on especially the middle class.”
Given up
But Steve Ellis, joint managing director – corporate services at Prosperis, told Health & Protection he had given up on politics.
“Essentially I have given up on politics as our industry seems to be a hot potato,” Ellis said.
“I am reserving judgement until the first anniversary of the new government, when a direction of travel will have been established and manifesto claims will be up for scrutiny.”