One of Ireland’s leading experts in healthcare has warned people that insurance companies are cutting the number of procedures that their customers are entitled to. 

Customers have become accustomed to inflation busting increases in the cost of their coverage in recent years. 

However, Dermot Goode of Health Insurance Ireland warned they must now expect the number of procedures they are covered could be reduced as well. 

“Everybody now is expecting the price increases, which were just announced in the last few weeks,” he told The Claire Byrne Show. 

“Bear in mind, the peak renewal period now is just upon us; half the entire market is going to review or renew their cover between November and the end of February. 

“So, those renewal notices are going out now.” 

While the price increases are significant, Mr Goode described the benefit reductions as “quite significant”. 

“Particularly for anybody who wants to keep full cover for things like hip replacements and knee and shoulder replacements and even eye procedures like cataract removal,” he said. 

“So, a lot of older members who are worried about those procedures, they have been paying extra premium to have that full cover. 

“They're now going to pay more premium and now they're shocked when they realise they don't even have those benefits anymore. 

“That's the real wake-up call for everybody now.” 

Mr Good urged people to “read the fine print” so they do not potentially miss out on cover for procedures they expect they might need. 

“People are now going to have to shop around to try and find an equivalent plan,” he said. 

“And unfortunately, the reality is, if that plan today is €2,564, if they want to retain similar benefits to what they currently have, they're going to have to pay close to three, between €3,000 and €3,500 to basically keep the cover that they have.”

Main image: A doctor and a patient. Picture by: Alamy.com.