Health insurers are engaging in 'shrinkflation', reducing benefits on their plans even as they impose significant premium hikes. Major players such as VHI Healthcare, Laya Health, Irish Life Health, and Level Health have all reduced benefits quietly in recent months, impacting consumer awareness. The ongoing trend raises concerns about the adequacy of health insurance coverage as consumers may be unaware of the changes to their plans. This shift reflects broader issues within the health insurance industry regarding affordability and transparency for consumers.
The trend of 'shrinkflation' in health insurance is concerning; insurers are cutting benefits while implementing steep premium increases across all major providers.
VHI Healthcare, Laya Health, Irish Life Health, and Level Health have all participated in reducing benefits quietly, leaving consumers in the dark about their coverage changes.
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