Norwich Union Healthcare supports the decision made yesterday by HM Revenue and Customs to exempt employer-provided annual health screenings and medical checks from tax.
Norwich Union Healthcare supports the decision made yesterday by HM Revenue and Customs to exempt employer-provided annual health screenings and medical checks from tax.
Whilst this is a welcome announcement for employers and occupational health providers alike, Norwich Union Healthcare believes this could be taken further by incentivising employers to invest in services that help prevent workplace absence.
A comprehensive report produced by NERA Economic Consulting on behalf of Norwich Union Healthcare, suggests that an offset against National Insurance Contributions would be the most appropriate way to incentivise employers to invest in a clearly defined set of products that are focused on early intervention, return to work and rehabilitation
NERA believe that an offset against National Insurance Contributions could grow the supply market significantly and enable employers to embrace a new set of products focused on return to work benefiting the whole workforce.
Alex Marshall, national sales manager of Norwich Union Occupational Health, said: "We are already seeing an evolution of the market with many key providers starting to move away from traditional insurance-based offerings in favour of new propositions that encompass rehabilitation and return to work services.
This decision is a real step in the right direction, but if this appetite for change were supported by increased investment in employee health, the industry could revolutionise the relationship between stakeholders and finally begin to tackle the problem of sickness absence in the workplace."
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For further information, please contact:
Amber Chable
Norwich Union Healthcare
Telephone: 023 8035 9383 or 07738 724820
Notes to editors:
About Norwich Union Healthcare
Norwich Union Healthcare was founded in 1990 as the healthcare arm of Norwich Union and now provides a range of private medical insurance, income protection, occupational health and group life products and services that cover over 2,400,000 lives. It is one of the largest providers of income protection and private medical insurance in the UK.
Norwich Union Occupational Health, a sister company of Norwich Union Healthcare, provides occupational health solutions and services to a wide range of industry sectors. By utilising their large fleet of purpose built mobile clinics and approved medical centres, staffed by a team of experienced occupational physicians and nursing staff, the services are designed to meet the individual needs of clients.
Norwich Union Healthcare is authorised and regulated by the Financial Services Authority and is a member of the Association of British Insurers and the Financial Ombudsman Service.