Irish Life Health joins VHI with new cuts to insurance premiums
A second health insurer has announced price cuts and is to offer its customers more benefits on their health plans.
Irish Life Health will be reducing health insurance premiums by an average of 2.4pc on most of its plans with effect from June 12 next.
It follows a 2pc price cut announced by VHI last week.
Irish Life said the reductions would see the cost of plans for adults drop by €53 a year on average.
The price cuts mean that a family of four on Irish Life Health Select Plus will save up to €225 on their plan, the company said.
This is the second price reduction announced by Irish Life Health this year.
These reductions are as a result of an improved claims experience combined with a continued emphasis on cost management, Irish Life Health has said. Fewer people with health insurance are signing forms allowing public hospitals to charge them for public treatment in State hospitals, as they realise they will get the same treatment as those with no health cover.
Dermot Goode of TotalHealthCover.ie said the cuts would mean minimum savings for families of €75 a year.
He said the Select Plus plan was going down by 10pc, which would save a family of four €225 a year. The BeneFit plan will be €240 cheaper for a family of four. Irish Life Health managing director Jim Dowdall said members will now also have access to many new benefits on renewal, such as cover for the HPV vaccine for boys and cover for treatment in minor injury clinics on all plans.
On the Select Plus plan, members will receive 70pc cover of up to €200 for minor injury clinic visits.
Irish Life is also launching new maternity benefits on a range of its plans to support expectant mothers before and after childbirth.
Last week VHI said it is to cut its prices for the third time in less than a year.
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 before.