Quinn Healthcare, Ireland’s second largest private health insurer is to increase the cost of its insurance policies by an average of 6 % from April 1st.
It is the company’s second price rise in just four months and follows price increases by competitors VHI and Aviva.
The company claims it had no choice to increase its prices because government increases in levies and tax relief changes are going to add an unplanned €13 million to its costs this year.
The cost of an essential policy for a single adult will go from €567 to €595, a 4.94 per cent increase, while the price for insuring a family of two adults, a student and two children under its essential health plan will increase from €2,058.24 to €2123.98, a 3.19 per cent increase.
The company’s essential plus (excess) plan for an individual is to go up from €898.06 to €976, up 8.68 per cent, while the cost of insuring a family of two adults, a student and two children under the same policy is to go up from €2,329.13 to €2532, an increase of €202.87 or 8.71 per cent.
Donal Clancy of Quinn Health accuses the outgoing government of completely ignoring consumers’ ability to pay for private medical insurance by “repeatedly imposing unwarranted increases on them in order to further subsidise an unregulated VHI”.
International health insurance news: 9 March 2011