The Prognosis Isn’t Good For Private Healthcare Insurers In Ireland

The latest statistics from Eurostat show Ireland as one of the most expensive places to live in Europe. One area that stood out most was health insurance. In just three years, some policies have risen 70%. With the recession hitting hard, many customers are simply cancelling their cover. Premiums are rising faster than inflation, but healthcare insurers say government policy is to blame. Has the state created unfair conditions? When BUPA Ireland entered the Irish market back in 1997, ending the state-run VHI Healthcare monopoly, the government reacted by introducing a Risk Equalisation Scheme. This would mean BUPA making payments…