Extra Cover - Weston Personal Finance Editor FAMILIES will end up paying out an extra €600 a year for health insurance after the VHI announced another hike. It is the third rise in premium prices in just over a year. And even more rises are on the way as ...
SEARCH LATEST NEWS Extra Cover Home Privacy Archive EXTRA COVER POSTED BY EIZ ON THURSDAY, 19 JANUARY, 2012, 7:14 AM GO Extra-Cover.png By Charlie Weston Personal Finance Editor FAMILIES will end up paying out an extra €600 a year for health insurance after the VHI announced another hike. It is the third rise in premium prices in just over a year. And even more rises are on the way as ... Share | EXTRA COVER POSTED BYO EIZ N THURSDAY, 19 JANUARY, 2012, 7:14 AM And even more rises are on the way as the Government plans to charge health insurers every time a person with cover uses an accident and emergency unit in a public hospital. Experts estimate this change in the rules could sent prices shooting up by at least 15pc, with the VHI recently warning that it may have to impose 50pc increases because of this change. Yesterday, it was predicted that these relentless rises in health cover costs will force thousands more families to ditch private medical insurance. He will be meeting with the three health insurers in the coming weeks to hammer out plans to cut costs in the private healthcare system. Dr Reilly said he was told by the VHI that it would have had higher rises this time if it was not for the health insurance levy, a system where the VHI ends up getting compensated for having most of the older and more expensive customers. VHI said premium prices would rise by between 6pc and 12.5pc for those renewing from March onwards. It comes after rises of between 15pc and 45pc last February. Now premiums at the state-owned insurer will go up again next month. This latest rise means some plans, particularly those popular with older people, will have jumped by 65pc in a 13-month period. Plan B Options, which is now called HealthPlus Extra, will have risen by €658 for an adult in just over a year. It will now cost €1,644 for an individual on this plan. The cost of insuring two adults and two children on the Parents and Kids plan will jump by 9pc to €2,820 a year from St Patrick's Day, a rise of €281. Last November, it jumped €331 -- meaning the cost of this plan will have risen by €612 for a family since January last year.
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