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06 Sept 2025
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06 Sept 2025
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Health insurance provider Vhi is set to increase prices for the second time this year.
Ireland’s largest private health insurance provider has announced that they will increase the cost of premiums by an average of 3.5 per cent from October 1.
They have said the decision is in response to the sustained increase in both the volume and costs of healthcare claims.
Vhi increased their premiums by an average of 7 per cent back in March.
This is in response to the sustained increase in both the volume and costs of healthcare claims.
In the first half of the year, Vhi says they have seen a 14 per cent increase in private hospital claim costs when compared to 2023. They said costs associated with the delivery of healthcare are rising, driven primarily by the increased costs in private hospitals and associated healthcare professional costs. The cost of day-to-day claims have also increased significantly.
The company have also announced that they are reducing the cost of children’s premiums on selected plans by 25% from October 1. In addition, day to day benefits have been added to some plans that previously didn’t have this benefit.
Commenting on the price changes, Aaron Keogh, Managing Director, Vhi Insurance DAC said: “We have taken the decision to introduce a price increase from October 1st as premium income has not kept pace with healthcare demand and associated claims costs. We have to price prudently for the future so that we remain in a position to meet the healthcare needs of our members.
“We understand the affordability challenges that many people are facing and the importance that is placed on retaining health insurance and we are determined to continue to deliver value for money.
“Vhi reported financial losses in 2023 reflecting the challenging environment within which we are operating. 2023 and 2024 have seen accelerated growth in healthcare claims volumes and as a result unprecedented increases in healthcare claims costs.
“This is because our members are accessing more healthcare than ever before in a variety of settings.”
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