Irish Life Health latest to hike premiums in move costing families up to 330 a year

"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% average premium increase effective April 1st, following a 5% increase in January. Families of four will pay €180-€330 more annually. The increases apply to new customers and existing customers renewing from April onwards. The insurer attributes the rise to continuing medical inflation, increased healthcare delivery costs, and a government levy increase on advanced plans from €469 to €517 annually. Advanced medical treatments, particularly cancer therapies, have become significantly more expensive, with typical treatment sessions rising from €3,000 to €9,000 in five years due to newer, more targeted medicines.

Read at Irish Independent