Insurance Companies to Pay State Benefits?
Published / Last Updated on 28/07/2009
Insurance Companies to Pay State Benefits?
An Insurance Industry Working Party has suggested that to reduce and remove the increasing burden on the State to provide sickness benefits, that these effectively be contracted out to the insurance industry.
The working party, formed mainly of larger firms, suggests that people should take out private insurance policies for things such as sickness and redundancy protection and release State funds to pay for other key areas.
We suggest whilst this is a obvious suggestion, not much thought has been given ?outside the box? as insurers are the obvious benefactors and the people, we assume would not receive lower tax or lower national insurance contribution requirements, but would no doubt have to pay more.
It will take some convincing of the electorate, although as we age, the older voting public would no doubt welcome a greater burden placed on the young and a lesser burden on the elderly with regard to better Care Fees support and/or higher State Pensions.
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