Responding to the 2026 annual report published today by Bupa, the BMA’s private practice committee has raised serious concerns that soaring profits are being prioritised over patient care and fair access to treatment.
Bupa’s latest results show record profits of this year of more than £1bn, a 10% increase on 2025, and global revenue of £18.2bn. This comes as private practice doctors report continued erosion of fees and patients face growing restrictions on the treatments and specialists they can access through their insurance policies.
As the UK’s largest insurer, almost half of Bupa’s £5.8bn revenue in its UK, India and Global market comes from UK health insurance.
BMA private practice committee chair Dr Jennifer Yell said:
“While insurers are reporting strong and rising profits, that is not necessarily translating into improved care for patients with insurance, or better conditions for the doctors they see. Paying an insurance policy does not always guarantee a patient will see the doctor best suited to their needs; they may see one that’s preferred by their insurer, which can compromise both doctor and patient alike. With NHS waiting lists still above 7 million and more people being treated privately, it is deeply concerning if premium income is not being directed first and foremost towards patient care.
“The UK private medical insurance market is highly concentrated and, unlike other countries, operates without a statutory minimum medical loss ratio. This means there is no requirement to return a defined proportion of the money insurers get from premiums, directly back into treatment. That lack of safeguard, combined with tighter controls over which doctors are approved to treat insured patients and ‘open referral’ policies that limit who patients can see, risks undermining both value and trust.
“We need minimum medical loss ratios, far greater transparency over how premiums are spent, stronger protections for patient choice, and an independent route of appeal when claims are refused. Patients who pay for private medical insurance deserve meaningful cover, fair access to the right specialist, and confidence that the system works in their interests.”
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Notes to editors
The BMA is a professional association and trade union representing and negotiating on behalf of all doctors in the UK. A leading voice advocating for outstanding health care and a healthy population. An association providing members with excellent individual services and support throughout their lives.