Fine Gael TD for Dublin Fingal, Alan Farrell is pleased with Minister Varadkar’s announcement of the Private Health Insurance Package which aims to benefit consumers by stabilising the Private Health Insurance sector and tackling the issue of rising premiums.
“I am pleased that the Department of Health is taking action to address the issue of rising private health insurance costs. Premiums have been increasing for too long and have become too expensive for many people; this is evident through the visible decline in the number of people with health insurance cover. As the economy continues to recover, it is essential to ensure that as many people as possible can once again afford health insurance.
“The low number of young adults who have health insurance cover is a particular issue of concern but I am glad to see that a provision for special lower premiums for this group is included within the Private Health Insurance Package. With the youngest population in the State, this will be beneficial to many people throughout Dublin Fingal. In addition to this, the Package also includes a reduction in stamp duty and in the Health Insurance Authority Levy along with the introduction of a Lifetime Community Rating.
“The stamp duty levied on health insurance policies will be reduced by 20% for those aged 17 and under and by 17% for those aged 18 and older. The Lifetime Community Rating is an essential factor in ensuring that consumers who are deemed to have a higher level of risk are not adversely impacted by this in terms of the health insurance premium they pay.
“The Private Health Insurance Package will benefit a large number of people in Dublin Fingal by making premiums more affordable and providing people with peace of mind in relation to the costs of their healthcare. I look forward to contributing to the discussion on many of these measures when the Health Insurance (Amendment) Bill comes before Dáil Éireann.”