VHI premiums getting 2% price hike

A second increase in six months...

VHI has confirmed it will increase the premiums on its health insurance plans by an average 2% from the start of May.

The bump will cost a family of two adults and two children roughly an extra €85 per year on the One Plan Family, with the costs of the Start Plan, One Plan Starter and One Plan 250 also set to rise.

The Start Plan for adults will increase by 78 cent per month, bringing the annual cost to €474.01. The One Plan Starter will increase by 79 cent per month, pushing the annual cost to €570.70. The One-Plan 250 scheme will rise by €2.27 a month, bringing the annual cost to €916.44.

The hikes follows hot-on-the-heels of a 3% average increase that bumped up the cost of a range of VHI products last November.

The State-owned company has said that the new charges are necessary to pay for new technologies, drugs and procedures, as well as rising claims costs.

VHI director of marketing and business development Declan Moran said:

"We have worked hard to keep the price increase as low as possible but need to ensure that our plans continue to deliver new and innovative benefits to our customers.

"Our commitment to our customers is that we will continue to deliver health insurance plans that are relevant to their needs and provide them with access to the latest drugs and treatments while striving to keep those plans affordable."

VHI is the country's largest health insurer with over one million customers.

The second largest, Laya, is also adding an average of almost 6% to its premiums from April, affecting 124 plans.