Why is my health insurance so expensive... and do I really need it? 

A 'perfect storm' in the health insurance market means cost hikes are set to continue

According to the HIA, only 26% of private health policy holders have ever switched policy and the average length someone stays with the same insurer is 15 years. Picture: iStock

A “perfect storm” in the health insurance market means the upward spiral in the cost of premiums is set to continue.

And that means bad news for hard-pressed consumers, already struggling with the cost-of-living crisis, according to industry expert Dermot Goode.