Health Insurance (Exemption from Insurance Premium Tax) Bill

This bill proposes to exempt health insurance premiums from Insurance Premium Tax (IPT), a 12% tax currently applied to most insurance policies in the UK. The measure would reduce the cost of private health insurance by removing this tax burden, making policies more affordable for individuals and families who purchase private coverage. The exemption would apply to health insurance products while other insurance types (car, home, travel) would continue to be taxed normally. This is intended to encourage uptake of private health insurance and potentially reduce pressure on NHS waiting lists.