Hikes ‘will force young people to cancel coverage’

HIKES in health insurance will see more young people cancel their policies leaving insurers with more older people which will in turn drive up the cost of premiums, an insurance expert has warned.

Dermot Goode, who runs consumer advice website healthinsurancesavings.ie, said a new government insurance levy of 40% would undoubtedly lead to further premium increases.

Mr Goode said tens of thousands of people had already cancelled their health insurance, and as premiums continued to rise so would the level of cancellations, putting even more pressure on the public system.