With €14bn promised for health in todays budget a lot of people could have been forgiven in thinking that health costs would be reduced slightly, however many will be disappointed to hear that all Health insurance premiums will significantly increased in the near future.
The probable large increase will in small hikes, that’s according to Dermot Goode from TotalHealthCover.ie. Mr Goode fully believes that companies are deliberately announcing a series of small increases through the year, rather than one big jump.
Mr Goode also claimed the move is a return to practices seen in the past, he further explained: “The days of regular price increases in double-digit percentages, those days are now back.”
“And when the biggest renewal period, from late December through to the end of March, when nearly half the population will renew their cover, they need to brace themselves for increases of 10-12%.”