IrishMedicalNews

Insurance price increases not finalised

Written by IMN Monday, 10 November 2008 16:10

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The Vhi has yet to finalise plans for price increases this year, following the Supreme Court ruling on risk equal­isation this summer.

Vhi Healthcare told IMN it had still not fixed a premium increase adding it was unlikely a figure would be set until the New Year. A spokesman for Hibernian Health said policy holders will not face another price increase for a year after the 2.5 per cent increase that came into force on October 10. “It’s the lowest price change ever applied to the health insurance market,” the Hib­ernian spokesman claim­ed.

Health insurers were reluctant to comment on reports last week of planned Government tax incentives allegedly aimed at averting potential dramatic premium increases paid by older people. However, a spokesperson for the Vhi said:  “It is accepted by the government that comm­unity rating cannot be sustained without a scheme such as risk equalisation or other Gov­ernment measures which ensures health insurance remains affordable for older and ill people,” a spokeswoman for the Vhi said.

Quinn Healthcare said it does not intend increasing prices for the current year and is currently reviewing prices for 2009, and believes in community rating. Meanwhile. the Vhi will formally open its new SwiftCare Clinic in Mahon, Cork today Monday, November 10.

The new clinic is based on the same model as the Vhi’s four existing facilities, which have treated almost 120,000 patients to date.