Vhi Healthcare today announced that health insurance premium for their average family customers will increase next month by approximately EUR 331 per annum or EUR 27.60 per month (price of two adults and two children on Parents & Kids) and that the same price increase of 15% will apply to the premiums of 60% of its customers. The price increase will be effective for renewals from February 1, 2011 and is necessary to cover the cost of providing quality care to our customers over the next 12 months.

Speaking at the announcement, Jimmy Tolan, Chief Executive, Vhi Healthcare, stated "year on year our customers continue to need to access more healthcare services and we have to set premiums to cover the cost of this. We anticipate that our customers will require 10% more healthcare in 2011 compared to 2010. In addition the recently announced increases in public hospitals of 21% which will increase our healthcare costs by EUR 60 million in 2011 together with further planned increases for 2012 accounted for 8% of the planned price increase. Over the last two years we have taken many steps to contain the rising costs of meeting our customers healthcare needs. These include a 15% reduction in consultants fees, 6% reduction in private hospital fees, agreeing maximum revenue levels for private hospitals and an annual reduction in administration costs of EUR 15 million. Today’s price increase is necessary to provide healthcare cover for all of our customers."

More Information

Please read more information about the price increases HERE

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