Sense on Cents

A loyal Sense on Cents reader asked me to comment on the dramatic rise in health-care premiums highlighted in an article, Soaring Health Premium Just Makes Me Feel Sick, from the Irish Independent. The author, Martina Devlin, writes of an individual in Ireland who just received her new health-care premium. Devlin offers:

I SERIOUSLY debated cancelling my private health insurance recently. When the renewal notice arrived in the post I did a double-take at the size of the bill, cross-checked the increase — which was almost 20pc — and gulped.

Value for money it wasn’t. In fact, it struck me as a hefty charge to cover what I regarded as an insubstantial risk. You can never discount the danger, but I’m still reasonably young and healthy (touch wood).

Reviewing the article immediately reminded me of a conversation that I had with my wife’s cousin, a doctor in a community hospital. I spoke with him over the holidays and asked him his take on the propsects for healthcare reform and legislation here in our country.

His take was as follows: (more…)