UK: Medical insurance premiums set to soar in UK
Saturday, 05 07 2016, Category: Health, Country: United Kingdom
The cost of medical insurance in the UK is rising at over four times the rate of inflation under the twin pressures of an ageing population and expensive new treatments.
Prices will rise by 6.5 per cent this year, according to insurance broker Willis Towers Watson. Not only is that the fastest rate for five years, but it is well ahead of expected increases in countries such as Spain, Italy, Germany and France. In the past ten years, the cost of UK medical insurance has almost doubled.
Part of the reason for the jump is that more people are buying private insurance — and using it. “In the UK we’re seeing that private provision is continuing to become more popular,” said Jeremy Hill, a director at Willis Towers Watson.
Source: Financial Times