Vhi, Ireland’s largest health insurer, has announced an average price increase of 3 per cent across its health insurance plans.
The company cited the continued rise in the number of people accessing healthcare and the increasing costs of delivering these services as the primary reasons for the hike.
The insurer reported a significant 12.5 per cent rise in private hospital claims costs last year compared to 2023.
Vhi, which serves 1.2 million customers, has implemented multiple price increases over the past year. In March 2024, it raised premiums by an average of 7 per cent, followed by a 3.5 per cent increase in October.
The latest adjustment will take effect from March 1.
In a statement, the company highlighted that the cost of providing healthcare continues to climb. More people are availing of essential medical services, leading to increased financial pressure on the system.
Rising expenses in private hospitals, higher healthcare professional fees, and escalating costs for day-to-day care were identified as key factors driving the latest price adjustment.