Health insurance figures fall
A survey has revealed that the number of people renewing their dental and health insurance policies has fallen.
The research, which was carried out by Laing & Buisson found that the number of people taking out independent health insurance plans has fallen to the lowest number since the 1970’s. The survey also shows that dental insurance has become less popular, with figures falling by 2 percent this year; during the previous three years, the number of people taking out dental insurance policies had risen rapidly and figures showed an increase of 31 percent in 2006.
It is thought that people are relying on the NHS now and this is why insurance figures are falling; in light of the recent economic problems, an increasing number of people are choosing to save the money they would normally pay as a monthly instalment for insurance cover and revert to NHS care.
The survey shows that both individual and employer-funded policies have fallen, as patients try to save money amidst the turbulent economic climate. The fall in insurance figures in 2009 was the most significant decrease seen in the last thirty years.
Despite the latest figures, insurance companies are not too worried; in relative terms, a decrease of 5 percent over the course of the last year could be seen as a positive result in the recession and it is expected that figures will rise again once the deficit has been cut and the economy is growing again.
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