Yesterday the Health Insurance Authority (HIA) released the findings of a national survey of the private health insurance market in Ireland. Highlighting the effects of the economic environment on the attitudes and behaviour of consumers of private health insurance (PHI).

It shows that consumers continue to believe that private health insurance is a highly valued commodity and there is a strong desire to have health insurance cover however many of us are under strain to keep their cover due to affordability.

Health Insurance customers are becoming much more active in shopping around and managing their health insurance now. Here are some key points which the survey uncovered:

- it is the second most valued employee benefit after a pension and the percentage of people who believe that private health insurance is the most important employment benefit has risen from 18% in the 2010 Report to 29%. For young people (18yrs to 34yrs) it is the most important employee benefit ahead of pension, company car or flexible working arrangements.
- the majority of people surveyed view health insurance as a means to access healthcare services quicker and consider that health insurance is a necessity rather than a luxury.

 Affordability was a huge factor and the impact of price rises as well as employment issues and the general difficult economic environment are all affecting consumer sentiment and attitudes towards private health insurance. These facts can be born out of

 - the overwhelming reason for no longer being covered by private health insurance is 'expensive/premiums too high/can't afford it' - this now stands at 50% of respondents who have cancelled cover.
- job losses (16%) were also cited and employers no longer providing health insurance (11%) were the other main reasons for no longer having private health insurance cover.

 Increased levels of switching and a greater readiness of consumers to switch is welcomed evidence of a better functioning market for health insurance with a greater degree of competition. 

 We are committed to help people who wish to maintain their health insurance to make significant savings on their premium. Many of you are in a position to make those savings irrespective of your age, gender or state of health and we can assist you. If you are not sure where to go or who to ask call Alasdair on 01 8101912 or email info@agsfinancial.ie he will guide you in the right direction.

If you don't know Private Health Insurance at least know a good Financial Broker......