Friday 20 January 2017

Editorial: Health woes mount as more abandon cover

Published 04/06/2014 | 02:30

Spiralling premium costs and six years of austerity have forced thousands to stop paying for insurance and take their chances with the public system. Picture posed: Thinkstock
Spiralling premium costs and six years of austerity have forced thousands to stop paying for insurance and take their chances with the public system. Picture posed: Thinkstock

THERE is an extreme reluctance by consumers to give up their health insurance. Many people have such a strong attachment to private healthcare that they are prepared to make sacrifices in all sorts of other areas to maintain their cover. That was easier to do when car insurance premiums were more costly than the health insurance premiums. But not any more.

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Spiralling premium costs and six years of austerity have forced thousands to stop paying for insurance and take their chances with the public system. This year alone there has been a succession of premium hikes, with some policies rising by 40pc.

All of this is behind the fact that some 21,000 people have stopped paying for private health insurance in the first three months of this year.

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