Health insurance costs have seen alarming increases, with some policies rising by as much as €800 annually for consumers upon renewal. Experts like Dermot Goode emphasize the discrepancy between average price hikes announced by insurance companies and the actual significant increases on specific plans. For instance, Laya Healthcare's average increase of 6.6% obscures larger hikes; some plans have surged up to 16%. This trend is reflected across various insurers, indicating that consumers must be diligent when reviewing their health insurance options amidst these increasing costs.
Health insurance expert Dermot Goode cautioned consumers about average cost increases, highlighting that actual price hikes on individual plans can be substantially higher.
Laya's Simply Health Extra plan will see a price increase from €1,578 to €1,825, resulting in a 15.65% hike contrary to average figures.
VHI's Company Plan Plus Level 1.3 increased from €1,609 to €1,700, revealing that average increases do not reflect the reality of certain plans.
The cumulative rise in health insurance costs over the past year is forcing consumers to face steep increases, with some policies going up by as much as €800.
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