Thursday 23 February 2017

Health cover market's in a death spiral - something had to be done

Charlie Weston

Charlie Weston

Health Minister Leo Varadkar
Health Minister Leo Varadkar

Something had to be done. The health insurance market is displaying classic symptoms of being in what is known as a death spiral.

This is a condition of the insurance market where costs rapidly increase due to changes to do with those who are covered by the insurance. In the case of health insurance, the covered population has got older and older.

Younger people have been dropping out, while others in their 20s, 30s and 40s are failing to take up health cover.

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