UK health insurance costs soar – Willis Towers Watson

The cost of UK health insurance is expected to grow by 6.5% in 2016, the largest increase in five years, according to figures from Willis Towers Watson. The analysis shows that high claim volumes mean that health insurance costs in the UK are increasing at one of the highest rates in Europe.

Jeremy Hill, Director of the firm’s global services and solutions business, said:

‘Health insurance remains a key employee benefit in the UK, but the effect of aging workforces, costly and complex treatments and technological advances is that health insurance inflation in the UK is higher than in most of Europe. Employers continue to keep health costs under review, with many looking at cost-sharing mechanisms to contain cost, as well as looking at health and wellbeing approaches to improve the underlying health of employees.’

‘Global Medical Trends Report 2016’, Willis Towers Watson, May 2016: www.willistowerswatson.com/en/insights/2016/04/2016-global-medical-trends-survey-report?utm_source=email&utm_medium=Outlook&utm_content=BEN-INT&utm_campaign=GBL-2016-med-trends