Dermot Goode of Health Insurance Ireland, joins The Late Breakfast Show to explain how insurers are hiking premiums while cutting plan benefits — and what consumers need to watch out for.
The surging rate of health insurance costs in Ireland “will catch consumers out if they aren’t careful”, an insurance expert has warned as "the worst thing you could do is auto-renew."
In 2025, health insurance customers became used to their provider informing them that the cost of their plan was rising well above what they would have expected.
For one specific plan, customers found the price could jump up to 40%.
VHI sign. Photo by: Sam Boal.On Late Breakfast, Health Insurance Ireland spokesperson Dermot Goode said the worst thing people could do was auto-renew.
“People need to ignore the average figures that the insurance companies are closing, because often the actual impact on your plan could be double that or even more.
“But the other pitfall that people are forgetting is that people obviously know rates are going up in April, but they are forgetting that rates already increased back in October.
“So when you get your renewal notice in, say, April or May, you're actually getting two to three increases coming your way.”
Mr Goode continued that the days of letting insurance payments just roll over were done.
Hospital technology concept. Photo by: JIRAROJ PRADITCHAROENKUL.“People need to brace themselves for pretty significant price hikes. We haven't seen these types of rate increases, I'd say now for quite a number of years.
“You need to make one phone call for your insurance company to the existing insurance company. And the first question is: ‘Do you have something similar that gives me similar benefits, not identical and at a lower premium?’ Don't be afraid to tell them what your target budget is.
“The worst thing you can do is auto-renew, it simply means you could end up actually paying quite significantly more for less cover if they're not careful.”
Main Image: Man with many bills or invoices and no money. Picture by: Alamy.
