Terence Flanagan
Question:474. Deputy Terence Flanagan asked the Minister for Health his plans to make health insurance more affordable (details supplied); and if he will make a statement on the matter. [33992/15]
View answerTuesday, 6 October 2015
Questions (474)
Written answers
Since my appointment as Minister for Health, keeping the health insurance market stable and increasing the numbers taking out health insurance has been one of my key priorities. An increase in the numbers taking out health insurance helps to control premium inflation, thereby keeping health insurance affordable for all.
From May of this year, Lifetime Community Rating and reduced premiums for Young Adults apply, both of which promote the sustainability of the insurance market as a whole. Without these measures, there would be a continued deterioration in the age profile of the insured population, which in turn would contribute to claims inflation and result in higher insurance premiums.
The number of people now holding private health insurance is 2.118 million, or 46% of the Irish population (end June 2015). This is an increase of over 93,000 since the start of this year and the number has now risen for four quarters in a row. This increase is extremely welcome as it helps to control premium inflation and thus keep health insurance affordable for all who wish to avail of it.
We have a highly competitive insurance market and I urge customers to shop around for the best value for their desired level of cover. Many consumers can make savings on their health insurance premiums by reviewing the level of cover to ensure that their needs are being met, without being over-insured. The Health Insurance Authority website is a good place to start as it offers a clear price comparison and can be accessed at www.hia.ie.