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The EQ-5D comprises five dimensions of health: mobility, ability to self-care, ability to undertake usual activities, pain and discomfort, and anxiety and depression. The original version of EQ-5D allows respondents to indicate the degree of impairment on each dimension according to three levels (no problems, some problems, extreme problems). This is the EQ-5D-3L. A new version of the instrument, EQ-5D-5L, includes five levels of severity for each dimension (no problems, slight problems, moderate problems, severe problems, and extreme problems). This report is intended to provide information on how using 5L instead of 3L is likely to affect the results of economic evaluations, and highlight the implications of the findings for NICE.