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Bupa calls on government to banish taxes on health insurance at work
buck private health and care company, Bupa has called on the authorities to be more supportive of wellness at work services by removing the heavy tax penalties that presently apply.
Bupa argues that as the scheme currently base, both the employer and employee face tax hits if an employer provides treatment for a member of staff to tax return to work early after a non-work injury.
Fergus Kee, managing director of Bupa UK wellness Insurance, said: "The employee incurs income tax on the benefit and the employer has to pay subject Insurance part. If that treatment is funded through wellness insurance, there is a further Insurance insurance premium Tax complaint. So both the company and the receiving system of health care are penalised."
According to Dame Carol Black's recent reappraisal of the wellness of the workings Population, work is good for most peoples' long-term wellness and family's well-being. As a consequence, she proposed the measurement in effort to keep people healthy at work, and to help them tax return to work should they get ill.
According to the reappraisal, ill wellness is costing the state £100billion a year â€" sufficiency to run the stallion NHS. Commenting, Dame Carol Black said: "For most people their work is a key factor in their self-worth, family regard and personal identity.
"So if they become sick and are not helped quickly sufficiency, they can all too easy find themselves on a down spiral into long-term sickness and a life on benefits. This is not only devastating for them, but also for their household. Their kid suffer financially, emotionally and it can affect their long-term futures."
According to Bupa wellness Insurance, the bulk of employers are in favor of authorities assisted wellness at work services, but wary of taxes, Mr Kee said: "Nine out of ten employers tells us they want more from the Government to invest in health at work and over half would invest more if there were more incentives to do so.
"We work with 80 per cent of FTSE 100 companies and thousands of smaller businesses across the country. The current tax treatment of workplace health provision is an obstacle and a strong disincentive. If removed, it would allow more companies to play their part in keeping Britain healthy." he added.
Mr Kee concluded, commenting that: "Investing in workplace health offers a triple win: better health for the individual, better productivity for the employer and increased profitability for UK plc."
©Fair Investment Company Ltd
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