660,000+ Could Drop Their Health Insurance If Premiums Rise By 1-10%

A One Big Switch survey of 9,000+ members has shown that the current Health Insurance affordability crisis could become far worse if premiums continue to rise.

Feedback from more than 5,000 Private Health Insurance policyholders indicate that 1 in 3 would give up their cover if premiums rose by as little as 1 to 10%.

If 1 in 3 policyholders in Ireland dropped their cover, the market would lose 660,000+ people, adding to the strain the market is already experiencing.

From the Health Insurance market’s peak in 2008 until now more than 280,000 people have given up their cover, in this same period premiums rose by 58%.

The Survey also found that:

• 45% of those who’ve dropped their cover are 18 – 32 year olds
• 3 out of 5 of those who have kept their coverage have experienced negative impacts on their own cover as a consequence of so many dropping out of the market

A recent HIA survey found that nearly 2/3 of those who have given up their cover did so because they considered insurance was either too expensive or they couldn’t afford it.[1]

“There is clearly a pattern here, people are dropping their health insurance because they can no longer afford it” said One Big Switch Director of Campaigns, Sarah Ryan

“The loss of these people, of which the majority are young and healthy consequently drives up policy prices and puts further pressure on the market”

“I’d encourage anyone interested in new and more affordable private health insurance offers to join the Big Health Insurance Switch at OneBigSwitch.ie”

The Big Health Insurance Switch campaign aims to address the issue of affordability by unlocking more affordable health insurance offers.

The campaign is seeking 25,000 Irish consumers to give the campaign the critical mass to compel health insurance providers to come up with more affordable offers.

Joining OneBigSwitch.ie is cost and obligation free.