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Dublin: 11 °C Tuesday 21 May, 2013

Health insurance set to rise – but no-one knows by how much

Three months before the risk equalisation scheme is due to come into effect, it remains unknown as to what impact it will have on private health insurance premiums.

Image: 401(K) 201 via Flickr/Creative Commons

THE AMOUNT BY which health insurance premiums are set to increase remains a mystery, less than three months before a new, permanent risk equalisation scheme is set to commence.

The Department of Health have confirmed to TheJournal.ie that no decisions have been made about the price increases yet, which are due to come into effect from 1 January 2013.

“No decision has been made in relation to stamp duty rates for 2013,” a spokesperson said.

“It is important to note that this money is used to fund tax credits in respect of the higher costs of insuring older people so that all people continue to pay the same amount for a given health insurance product.”

The Irish Independent had yesterday reported that increases in the new year could see insurance costs for a family of two adults and two children rise by approximately €200.

Recent figures from the Health Insurance Authority (HIA) have shown that the number of people with private health insurance continues to drop, with June’s figure of 2,123,000 down over 16,000 from the end of March.

In the two years from June of this year to June of 2010, the number of those with private health insurance policies has dropped by 100,000.

Speaking to TheJournal.ie, a spokesperson on behalf of the HIA today said:

The authority has a role in advising Minister Reilly in how a risk equalisation scheme should operate and has been doing that on an ongoing basis over the last year or two.

Responding to the dropping numbers of those who have private health insurance, the spokesperson went on to say:

The numbers holding private health insurance have been declining at a pretty steady rate, but aren’t accelerating. There is still close to 50 per cent who do have private health insurance.
The department [of Health] has noted this decline and noted that affordability is an ongoing concern for people.

Read: Health insurance: Numbers covered fell again in second quarter >

Read: TheJournal.ie’s progress report for the Government: Health >

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Comments (21 Comments)

  • Fook it, time to become a burden on society and have all my shit paid for.

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  • That should be a defibrillator on the piggy bank not a stethoscope!

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  • Great strategy there. More people will cancel their Health insurance due to the cost and these guys will earn less and then loose even more.

    I had to give up my VHI when I was laid off in 2009 and have only started to look at getting back in, but with the premiums going up again – I’ll have to keep winging in and hope that me, the missus and my 4 young lads wont suffer without it.

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  • One more step towards Bottlers American style of healthcare…no insurance then go die on the street.
    When are we going to stand to this kind of gouging? We’re on our own….government doesn’t give a tu’penny s**te about us.

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  • We moved to South Africa 3years ago and not wanting to loose the benefits that we had from over 50 years insured with Vhi we transferred to their global policy at a cost 6000euro per year and on checking locally we found we could get a policy with much bigger cover for 50%less as we were not sure we were going to stay away I contacted VHI and asked if their was any way to retain our policy with no cover so if we returned we would not be joining at the age of 70 the response i got was yes we could reduce our plan to minimum cover but would have to wait for 25 years to get back on the top plan we had for the last 50 years we should live that long. That was the only thing they offered us.

    Alan Weinrib.

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  • It’s a total scam, every year it seems to increases by 10-15%. Health care needs to be universal and on the basis of need, not a 2 week waiting list for those who can afford it and a 2 year waiting list for those who can’t.

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    • When I joined Aviva 4 years ago I went with their basic package at E300. When I renewed earlier this year it was up to about E540. That’s ridiculous, if it goes up anymore I’ll have to drop it.

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  • Don’t give a f€€k anymore.
    Bring it on!! ANARCHY THAT IS.

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  • It can rise all it wants. I had to ditch family insurance last year so I could afford to pay other more important bills like the tv licence, household tax, septic tank fee & car tax.

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  • Think of a number, now divide it by 2 and multiply that number by 12. This is the price increase on your health insurance.

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  • Even without an increase in premiums, with all the taxes been lumped in people’s shoulders health insurance is going yo be the first to go.
    Health insurance will be a distant memory in Ireland in 12 months time.
    Watch this space

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  • M 02/10/12 #

    The only reason I still have private health insurance is because we were refused a medical card by being 20 over the income limit. Hate paying out so much every month but fear myself, husband or kids will need surgery and couldn’t afford it.

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    • we recently applied for the gp card, we were refused because we were ………….. 2EURO over the limit and we had 10euro left over every month after all our payments (rent, bills, etc) we gave up private health care 2 years ago. cant afford it anymore. hopefully we and our 2 kids dont need hospital treatment

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  • That’s almost comical, my parent’s premium went up by almost 50% last year and they were forced to downgrade their coverage. We’re fast approaching s system were people who don’t want to be at the mercy of our second world health system are price difference out of the market for private health insurance. I wouldn’t purchase it as a matter of principle, rabid socialist that I am, but my parents should have the right to.

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  • Well tbh I prefer to have health insurance cause I wouldn’t want to Wait on d public healthcare u b waiting months …,laya healthcare is the cheapest around go check them out :)

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  • Jesus we pay enough for basic cover as it is.Can’t even afford a dental or optical cover.This is scandalous.

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