Health insurance premiums in Ireland are rising by an average of 3% from March 2024, following previous increases from providers such as VHI, Laya, and Irish Life. These cumulative increases may lead families to pay up to €500 more annually for their plans. Health insurance expert Dermot Goode indicates that the actual costs for families can vary widely. VHI cites the rising demand for healthcare services and increased delivery costs as reasons for the premium hikes, with private hospital claims costs rising by 12.5% in 2024 compared to the previous year.
Healthcare costs continue to rise as more people are accessing essential healthcare services. The cost of delivering these services has also risen, driven by heightened demand.
For a retired couple insured on one of VHI's more expensive schemes, this could add anything from €220 to €300 to the cost of their cover.
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