Our response to the IPT increase.
“The Government has announced that it will be increasing the rate of Insurance Premium Tax (IPT) from 6% to 9.5% from November 2015 - a rise of more than 50%.
“At Westfield Health we’re proud to provide our harder working health cover to more than 400,000 policyholders, encouraging people to take responsibility for their own health and, in doing so, helping to relieve pressure on the NHS. We are therefore naturally disappointed to see this rise in IPT, which impacts the whole insurance industry.
“IPT was last increased in 2011 by 1% and although we absorbed the full increase then, we’re unable to do the same this time. We’re working hard to ensure we continue to provide the best possible value and service to all of our customers, however the rise in IPT means that there will be price increases and changes to some of our plans from 1st November. We’re now in the process of contacting all customers who will be affected by these changes.”
Jill Davies, Chief Executive