Premiums set to increase at Irish Life Health
Irish Life Health premium rates are set to increase from June 1, rising 3.3pc on average by €30 annually.
The company blamed the increased level and cost of hospital claims and continuing medical inflation including public and private hospitals and also rising consultant charges.
Irish Life Health said the hike follows a sustained period of price reductions and freezes.
Managing Director, Jim Dowdall said: “Our commitment is to provide our customers with the best value and most innovative health and wellbeing benefits. We have a determined focus on managing our costs to keep our premiums at the lowest possible level."
"However, as a result of increases in claims costs, including those from public and private hospitals and also consultant charges, it is necessary to increase the premium charged to cover the rising cost of medical treatment for our customers”.
The increase health premiums do follow reductions last year for many policy holders. At the end of 2017 Vhi made the first in a series of price cuts in the sector and rivals Laya Healthcare and Irish Life Health were forced to respond with cuts of their own.