Health insurance premiums rocket by over €140 despite claims 'slowing down' in 2024

The Health Insurance Authority said the growth in the number of people having health insurance is dropping and the regulator believes that cost is a key factor with price increases throughout 2024. File picture

Households were hit by a huge surge in the cost of health insurance as premiums jumped by almost €146 last year, despite the volume of claims showing “signs of slowing down”, the industry’s watchdog has said.

Furthermore, insurers netted an extra €400m from premiums in 2024 compared to 2023 as the average plan rose 12.2%. The annual market report from the Health Insurance Authority (HIA) said the cost of some plans had increased by as much as 25% last year as consumers face ever-growing costs for health insurance in Ireland.