With electricity prices set to rise, it looks as though health insurance could be next.

Irish Life Health has announced it is raising the cost of its premiums by an average of 2.5%, with competitors like VHI and Laya expected to follow suit.

It comes despite the three-month State takeover of private hospitals earlier this year which resulted in the three main health insurers refunding their members.

Charlie Weston, personal finance editor of the Irish Independent, joined us with more.