Irish Life Health, one of Ireland’s leading health insurance companies, has announced another increase in premiums, marking the third hike within a year. The premiums for various adult plans will rise by 1.6% to 7.9%.
For new customers, the increase will take effect from July 1. Current policyholders will also see the higher rates when they renew after this date. The company attributes the rise to increased demand for health services in both public and private hospitals, which has led to higher claims. Earlier this year, Irish Life Health raised premiums by an average of 4.8% following a similar increase last July.
The Health Insurance Authority’s recent report highlighted a 15% increase in claims paid out by insurance companies in 2023 compared to the previous year. Other health insurers in Ireland, such as Vhi and Laya Healthcare, have also raised their premiums by 7% this year.