It follows the record 2025/26 financial year total of £9.04 billion revealed in March, exceeding the 2024/25 full year total of £8.88 billion by £157 million.
The Office for Budget Responsibility’s Spring Statement forecasts indicate that IPT is now expected to raise £57.8 billion between 2025/26 and 2030/31, marking a £500 million upgrade from estimates made after the Autumn Budget in November (£57.3 billion), as continued demand for health-related insurance products drive growth.
Cara Spinks, Head of Life & Health at Broadstone, commented: “IPT receipts have begun the new financial year at a slightly more measured pace compared with the very strong levels seen throughout 2025/26. Appetite for health insurance remains strong - both employers and individuals continue to value faster access to healthcare services as pressures across the NHS persist, which is helping to sustain demand and place upward pressure on premiums, evidenced by record employer-funded insured admissions in 2025.
“The Government’s recent plans to refresh the fit note system and MSK care, and to strengthen support for people returning to work, reflects the growing connection between health outcomes and workforce participation. Moving the emphasis from signing employees off work to providing better support for staying in, or returning to, employment definitely reflects a broader policy drive to address economic inactivity.
“Against this backdrop, many organisations still see health insurance as an important part of their employee benefits offering. Rising premiums, however, could make cover less accessible, despite continued demand, at a time when encouraging workforce participation remains a key priority for policymakers.
“As IPT receipts continue to trend upwards over the longer term, questions remain over whether the current tax treatment of health insurance is fully in step with the Government’s wider objectives. Improving access to preventative healthcare and early intervention services, especially through employer-sponsored cover, could help more people remain economically active while also reducing pressure on public healthcare provision.”
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