Saturday 29 April 2017

Health insurance hike: Families to pay almost €100 extra from May

Charlie Weston

Charlie Weston

PEOPLE with health insurance are facing a new price rise after the Vhi said it was increasing the cost of its premiums from the start of May.

The average premium will rise by 2pc, the State-owned insurer said.

It said the increase is necessary in order to cover the costs of new technologies, new drugs and new procedures as well as rising claims costs in public hospitals.

The rise will mean it costs an extra €85 a year for a family of two adults and two children on the popular One Plan Family.

Director of marketing and business development at Vhi Declan Moran said: “We have worked hard to keep the price increase as low as possible but need to ensure that our plans continue to deliver new and innovative benefits to our customers.”

The cost of the Start Plan, One Plan Starter and One Plan 250 are also going up.

Vhi’s price rise comes weeks after its rival Laya said it was to raise prices for the fourth time in less than two years.

From April, Laya premiums on plans will rise by an average of almost 6pc.

The rises will impact on 124 plans.

Laya is the second-largest health insurer in the country, it has around 500,000 customers.

It is the fourth time the cost of Laya health cover will have risen in 16 months.

Health insurance experts estimate the move will cost an average family an extra €150 a year.

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