The average adult health insurance premium in Ireland has increased by more than 10% over the last year, according to the Health Insurance Authority (HIA).
The average adult premium for the first quarter of 2024 is 1,685 euros compared an increase of almost 13% on the first quarter of 2023, the HIA report said.
Vhi Healthcare retained the largest market share, followed by Laya Healthcare and Iish Life Health.
The five most popular plans for each insurer are:
There were 351 plans on the market as of 1 April. The majority of consumers have plans with cover in private hospitals, while some 10% of consumers have plans with cover mainly in public hospitals.
The research shows that health insurance continues to grow in Ireland, with 46.8% of the population now holding private health insurance – a slight increase on the last quarter.
Roy Dolan, CEO of the HIA said: This research provides valuable insights into market and consumer trends in the private health insurance sector.
“The latest statistics show a steady growth in th number of people securing health insurance, with many choosing substantial cover, this may reflect an increased awareness and prioritisation of health among the Irish population.
“There have been a number of health insurance price increases across the market in the past 12 months which is attributed to medical inflation and an increase in claims.
“We would always encourage consumers to shop around and find the best fit and value for their lifestyle needs. “
