Most employees believe employers should receive tax incentives for offering insurance benefits – including health and income protection cover – to their staff.
This is according to a survey of 2,000 UK adults commissioned by the Association of British Insurers which found 54% of respondents said government should provide tax incentives to employers who offer their staff health and protection benefits.
Consequently, the ABI reiterated its call made ahead of the Spring Budget for government to cut the rate of Insurance Premium Tax (IPT) on health insurance to allow more employers and individuals to access it.
Important factors when choosing a job
But the survey also found that health insurance and income protection offered through the workplace were important factors for over half (57%) of respondents and almost half (49%) of people respectively when choosing a job. Seven out of ten (69%) said they would also consider taking out health insurance if their employer offered it to them.
Informing staff of their benefits from Day One
The ABI further called on employers to use Day One Statements to inform staff about the benefits available to them on their first day of a new job and then on an annual basis so they can make best use of the support their employer offers.
Mid-Life MOTs
The body also pointed out Mid-life MOTs provide an opportunity for workers in their 40s and 50s to take stock of what health services are offered through the workplace.
Health and wellbeing are already included in the MOT and so adding signposting to services available should be an ‘easy win’, it added.
In employers’ best interest
Rebecca Deegan, head of protection and health, ABI, said: “The role insurers play to help achieve a healthy, thriving workforce can’t be underestimated. The sector’s investment in prevention and early diagnosis encourages people to take control of their health and live healthier lives.
“As the number of people out of work due to ill-health rises, it’s also in employers’ best interest to inform their employees about the health and wellbeing support available to them, both on day one of a new job and annually. This is vital to encourage staff to make best use of the services on offer to support them to stay in good health.”
