Monday 21 May 2018

Good news for consumers as VHI to cut prices for third time in a year

Charlie Weston

Charlie Weston

HEALTH insurer Vhi is to cut its prices for the third time in less than a year.

It comes after it reported a 33pc jump in profits.

The insurer will reduce premiums by an average of 2pc in July on 54 plans, a move that will save a typical family €50.

And those who have already renewed will get the benefit of the summer price cut – something not seen in the market before.

The State-owned insurer has already reduced the cost of some plans last November, and again in March.

Cumulatively, the reductions will see some families saving up to €200 on the annual cost of cover, according to health insurance experts.

It comes after it reported a profit of €75.3m for last year, up from €56.4m the previous year.

Vhi said it was benefiting from better claims management.

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