Laya's latest cuts to benefit families as it steps up health insurance price war
Health insurance customers will catch a break this Christmas after Laya Healthcare announced its second reduction in premiums in six months.
Cutting costs has become something of a trend across the industry recently as rival players compete for their market.
Laya's announcement coincides with the busiest periods for health insurance renewals, as well as one of the most expensive times of the year for families.
Details of reductions across 15 schemes have been announced by Laya, with premiums falling by an average of 7.1pc.
The health insurance company also said a new 'family value offer' could save families up to €343 per child.
It means that parents pay for the health cover of only one child, with every subsequent child covered free of charge.
Meanwhile, one of Laya's more popular schemes - Flex 175 Explore - has been reduced by 5.6pc.
Laya Healthcare is the second-largest provider of private health insurance in Ireland with over half-a-million members.
Dónal Clancy, managing director of Laya Healthcare, said: "Affordability without compromising on health cover is important to our members, especially those who have young families and we take this into consideration.
"We also strive to continuously invest in our benefits and services to add extra value for our members.
"We're delighted to announce the 'family value offer' and our price reductions ahead of the festive season," he added.
Recently, Irish Life Health reduced the price on a number of plans that will save typical families up to €270 a year.
Leading market player VHI also rolled out a number of price-saving measures in the past year.