Tax relief on health interventions such as health insurance, employee assistance programmes, and wellness initiatives will boost the productivity of UK plc.
This is according to Association of Medical Insurers and Intermediaries (AMII) executive chairman Dave Middleton following yesterday’s Autumn’s Statement and confirmation from government that is still considering if it will cut taxes or provide any other support for employers and employees who take out private medical insurance (PMI) or group risk policies through the workplace.
Middleton (pictured) called on 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,” Middleton said.
“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,” Middleton maintained.
He added AMII strongly advocates for expanding workplace support to retain individuals with disabilities and those with health conditions.
“However, relying solely on “occupational health” is too limited,” he continued.
“Employers have broader options, such as health insurance, employee assistance programmes, 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.”