The health insurance firm, VHI, owned by the state, has planned its second increment in premiums this year, marking a growth of 3.5 per cent in all its health insurance policies. The company has planned the hike to come into effect from the 1st of October in response to the so-called “consistent rise in the number and costs of healthcare claims”. VHI remarked that there has been a 14 per cent escalation in the claims from private hospitals since 2024 began, compared to the previous year.
In January, the insurance company, which is the largest in Ireland, disclosed an unexpected average price hike of 7 per cent. This came as a surprise to industry monitors, as it was following a series of price augmentations in 2023, the most recent one being three months prior to the January hike.
VHI, however, has made attempts to “partially offset” the current week’s increased costs by lowering the premiums for children’s coverage by 25 per cent on selected plans. Additional information will be made available later.