OFT set to investigate private medical insurance

December 21st, 2010
OFT set to investigate private medical insurance

The Office of Fair Trading has announced that it will carry out a review of private medical insurance in the UK.

The review will begin in the spring and will investigate barriers affecting entry to the private healthcare industry, which is worth more than 5 billion pounds every year. The review will be conducted as a result of the government’s healthcare reform, which will see an overhaul in the NHS healthcare system.

The reforms may contribute to growth of the private healthcare industry, as the health service is coming under increased pressure due to unhealthy lifestyle habits, an ageing population and increased life expectancy.

Most people in the UK pay a relatively small contribution through the taxation system towards their healthcare, but do not have medical insurance; some people receive private medical insurance through their employer but most people rely on the NHS for any treatment they may need. The NHS provides a huge range of treatments and facilities but government reform may signal the introduction of more private healthcare providers into the health system.

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