"While advances in modern healthcare, including new technologies and high-cost drugs are delivering better outcomes for our members, they are significantly driving costs up, particularly in private and hi-tech hospitals. A pricing and product review is needed in order for us to meet the current and future needs of our members," said Dónal Clancy, managing director of Laya Healthcare.
"Laya had seen an 11% increase in private hospital claims in the first half of the year compared to last year, driven in particular by an increase in cardiology and cancer claims and high-cost drugs," Laya Healthcare reported, indicating rising demand and costs.
Laya Healthcare's price increases for customers reflect the increased cost and complexity of medical care, a trend evidenced by price hikes from rivals like VHI Healthcare and Irish Life Healthcare.
"The price rise is Laya's second this year and follows two hikes in 2023, meaning 700,000 customers will pay more if they renew from October 1st," indicating a continued trend in increasing premiums.
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