Irish Life and Level Health to both hike medical insurance premiums

"Increases in the cost of delivering healthcare continue to be a challenge for health insurers and these rising costs are outpacing general inflation. Consequently, the price of medical care, medicines and treatments is increasing at a higher rate than everyday household expenses."

"By way of example - newer cancer treatments are more targeted and effective, and can mean fewer side effects, fewer hospital admissions, and better long-term survival. For patients and families, that can make a very real difference to day-to-day wellbeing and long-term outcomes."

"Just five years ago a typical treatment session for many common cancers might have cost around €3,000. Today, that same session can be closer to €9,000 when newer medicines are used."

Irish Life Health announced a 5.9% premium increase effective April 1st, following a 5% increase in January. Advanced plans will see an additional €48 annual levy increase to €517. A family of two adults and two children will pay €180-€330 more yearly. The increases apply to new customers and existing customers renewing from April onwards. Irish Life Health attributes the rises to escalating medical inflation, government levy charges, and increased costs of sophisticated healthcare technologies and treatments. Cancer treatment costs have tripled in five years, from approximately €3,000 to €9,000 per session with newer medicines.

Read at Irish Independent