Aviva is to increase its Irish health insurance premiums by 14%. It comes just weeks after rival Vhi healthcare announced price rises of up to 45%.
The move will see a family with two adults and two children having to pay €2,315 a year on the popular Level Two Hospital plan, a rise of €285 from March.
The increases are a direct result of the government increasing the cost of beds in public hospitals, medical inflation of 9%, and a higher levy imposed on medical insurance policies.
Quinn Healthcare has announced a price rise of between 8% and 25 % from February.
State owned vhi healthcare is reducing the cover it provides for some medical conditions, such as eye and hip surgery. For example, a family with the Parents and Kids plan will only be covered for 80% of the cost of major eye surgery in a private hospital.
The regulator for private health insurance, the Health Insurance Authority, is monitoring the changes but seems powerless to stop price rises and cover reductions.
International health insurance news: 3 February 2011
