Health & Protection’s review of 2023 kicks off with a look back on the first quarter of the year during which tax breaks on health offerings were already on the agenda, Legal & General predicted tougher times for the protection sector, Health & Protection hosted its inaugural Health Summit and DeadHappy found itself in hot water over an advert featuring a famous serial killer.
January
Right at the start of the year Health & Protection brought readers news of David Hare, CEO of the Independent Healthcare Providers Network, being awarded an MBE.
The month also saw reports first emerge that government was considering giving employers who offer occupational health benefits tax breaks.
And at the start of a new season of The Apprentice we spoke to protection adviser Joanna Streames about how the show was integral to her entry into the sector.
The month also saw the launch of BIBA’s manifesto in Parliament at which the body’s CEO Steve White told us he would be seeking further concessions from government on Insurance Premium Tax and P11D costs, a campaign others in the industry would join later in the quarter.
At the end of the month DeadHappy issued an apology after its advert using the image of infamous serial killer Harold Shipman prompted more than 50 complaints.
February
As January made way for February, the Advertising Standards Authority stepped in to ban DeadHappy’s Shipman ads.
February also saw Vitality unveil a major overhaul of its individual protection offering including a range of changes to its income protection (IP) and serious illness cover.
This would include introducing private medical insurance (PMI) health benefits from its sister business Vitality Health to support member rehabilitation from certain core conditions, and higher claims payments depending on status within its Vitality programme.
Some digging by Health & Protection during the month also resulted in a revelation from the Money and Mental Health Policy Institute (MMHPI) that an income protection (IP) policyholder was left homeless after a claim was declined due to their mental illness.
March
At the start of March, we brought readers an exclusive on Tracy Garrad stepping down as CEO of Axa Health. But it would not be long before Garrad would return to the sector – just not on these shores.
The month also saw Legal & General reveal it expected the UK retail protection market to be hit by a softer housing market and cost of living crisis concerns – continuing its bearish outlook for the sector.
The insurer issued the caution when announcing a 14.5% fall in retail protection sales over 2022, although group protection new business improved by 21.6%.
And we rounded off the quarter with Health & Protection’s first Health Summit which coincided with Spring Statement and at which delegates heard the health insurance sector should change tack in its campaign for cuts to private medical insurance (PMI) tax and instead focus on P11D benefits charges.
But the chancellor would subsequently come under fire for omitting PMI tax breaks from his Spring Statement.