Health Insurance Premiums Rise 11% Amid Reduced Coverage, Report Finds
A new report from the Health Insurance Authority reveals that health insurance premiums increased by nearly 11% last year, yet coverage levels have decreased. Plans increasingly feature restrictions and co-payments, potentially leaving common procedures like hip and knee replacements not fully covered. This trend is described as «shrinkflation,» urging policyholders to review their plans.
Health insurance plans are becoming more expensive while offering reduced coverage, according to a recent report from the Health Insurance Authority. The regulator's findings indicate a decrease in the level of cover across numerous plans, despite an average premium increase of nearly 11% last year.
The report also highlights an increasing trend of restrictions, co-payments, or partial coverage for specific treatments within these plans. This means that common medical procedures, such as hip and knee replacements, may no longer be fully covered.
One health insurance adviser characterized this situation as another instance of «shrinkflation,» urging policyholders to view it as a «wake-up call.» The adviser emphasized the importance of actively reviewing plans rather than routinely allowing them to auto-renew. This report emerges amidst an ongoing dispute involving the Minister for Health, the Health Service Executive (HSE), and the Rotunda Hospital concerning public-only consultants treating private patients on hospital premises.