Health Insurance Rates on the Rise: What You Need to Know
The latest health insurance rate hike is set to hit many Irish pockets, with premiums increasing by an average of 3% from March. This rise follows a series of price increases in the past year, with some plans already seeing small hikes earlier in 2024. VHI, a prominent player in the health insurance sector, announced a 7% price increase in March, joining previous hikes in October 2023 by the same company.
Understanding the Recent Price Hikes
In addition to VHI’s latest increase, other leading health insurers, including Laya and Irish Life Healthcare, have also raised their prices recently. Laya announced 13 scheme price hikes, while Irish Life increased the cost of 130 of its plans just this month. This marks four consecutive rate increase announcements from Irish Life in less than a year.
