VHI: Insurance premiums could rise by up to 45%29/10/2012 - 09:42:14
The VHI is warning the Government that its health insurance premiums could rise by as much as 45% next year unless the company is allowed to phase in new charges proposed by the Health Minister.
According to the Irish Times, the State-owned insurer said that Heath Minister Dr James Reilly's plans to charge private patients for using public hospital beds will add more than €200m to the cost of its claims.
The VHI said that it may be forced to introduce a 45% rise in the price of some premiums as a result, but said that it could use other measures including better efficiencies and changing members cover to make up at least 50% of the cost of the charge.
The insurer said that if the levy is phased in over the next five years it could limit the rise in premiums to 2% per annum.
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