HEALTH SERVICES
Over 2.1M have private health insurance
June 26, 2015
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More than 2.1 million people in Ireland now hold private health insurance, the latest figures from the Health Insurance Authority (HIA) have revealed.
According to the figures, during the first three months of this year, an extra 6,000 people took out private health insurance. Then during the month of April, there was a jump of 74,000, coinciding with the introduction of Lifetime Community Rating.
Since May 1, members of the public aged 35 and older who do not have private health insurance, but want to take it out, have been charged extra.
These consumers' premiums will be permanently loaded by 2% per year from the age of 35. For example, if a 54-year-old decides to take out private health insurance for the first time, they will have a loading of 40% added to their premium every single year that they remain insured.
"Although we do not, as yet, have a detailed breakdown of the age distribution of those newly insured or returning to the health insurance market in April, initial findings indicate that new policy holders were primarily in the 35-50 year age range," commented HIA chief executive, Don Gallagher.
The HIA noted that overall, the number of insured people has been increasing since June 2014, when 2,017,000 people were insured. At the market peak in 2008, almost 2.3 million people were insured.
"Based on returns from insurers to the HIA and on Central Statistics Office (CSO) population data, 45.7% of the population were covered by inpatient health insurance policies at the end of April. This compares to the 2008 peak of 50.9%," Mr Gallagher added.