Tuesday 14 August 2018

Laya Healthcare to cut prices, but also raising the cost of 61 plans

Laya boss Donal Clancy
Laya boss Donal Clancy
Charlie Weston

Charlie Weston

THE second largest health insurer in the market is to increase prices on a number of plans.

Laya Healthcare said it would also reduce prices on half of its plans and was introducing a range of additional benefits on a number of plans.

The move comes soon after Vhi said it is to cut its prices for the third time in less than a year.

Laya is to raise prices by 2.6pc on 61 plans, with the company blaming what it said was a sustained increase in the cost and volume of claims from public and private hospitals.

It said half of its plans would be reduced in price from the start of next month.

Average reductions of 3.9pc would be applied to 66 different plans.

This would see an adult member saving €100 when they renew on the Assure Protect plan, taking the price to €482.

The higher end Simply Connect, one of the insurer’s more popular plan, will go down by €79 a year for an adult on renewal.

There will be no change in the cost of five of Laya’s schemes.

Laya boss Dónal Clancy said the insurer was introducing enhanced benefits on a range of plans from next month.

There will be cover for genetic consultation and screening for some of the most common hereditary cancers including breast, colorectal and ovarian cancer on 77 schemes.

There will also be enhanced fertility benefit cover across a selection of schemes.

Mr Clancy said: “The introduction of new cancer care benefits, increased maternity and fertility benefits; genetic testing benefit and enhanced CareOnCall benefit all aim to improve the lives and medical outcomes of our more than 580,000 members.”

Earlier this week Vhi offered cash back to customers who agree to pay it electronically and sign up to receive documents online.

The insurer is offering €50 cash back per adult policyholder for those who agree to pay by direct debit.

It is also offering another €50 for those who opt to receive documents online.

A family of two adults and two kids will get €150 cash back if they sign up.

It comes soon after 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 in the market before.

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