There could be bad news for health insurance policy holders in the coming months ahead as both Laya Healthcare and VHI have said they will be assessing costs after the Government announced a planned health insurance levy increase.
The news of the 10% levy increase which was confirmed by the Department of Health will surely spell bad news for thousands of policy holders nationwide as the levy’s introduction will surely see a hike in premiums.
A spokesperson for Laya Healthcare said the increases to the cost of private health insurance for members are unwelcome. However the VHI, have welcomed the decision saying the fees are justified given they support more older customers.
Meanwhile the Minister for Health Simon Harris has urged insurance companies to “think carefully” before increasing premiums as a result of the levy.