Warning health insurance could increase by 50% in a decade

Health insurance will cost 50% more over the next 10 years — with the average premium increasing from €1,200 to €1,800 to meet the cost of increasing claims from older members.

The managing director of Irish Life Health, Jim Dowdall, said the €600 increase in the cost of health insurance would result from an annual 4% increase in claims.

The extra €1bn in the cost of claims would be spread over more than 2.2m people who have private health insurance.