More of it – Irish Life Health ups their prices by close to 5% – – Our News, Your Views

More of it – Irish Life Health ups their prices by close to 5%

Irish Life Health has today announced that health insurance plan prices will increase again from 1 January 2004 due to increased demand for healthcare services, reports RTE.

It marked the third price increase in the past 12 months and followed increases in March and July.

The health insurance company said the planned increase would increase total premiums for adults by 4.8%.

A small number of plans will see no price increase, but the rest will see price increases ranging from 2.5% to 6%.

It said these price changes will be effective from January 1, 2024, for new customers and existing customers with a renewal date from January.

Irish Life Health said it was increasing prices due to increased demand for healthcare services, including high-cost ones, reports RTE.

This trend is consistent with the country’s overall health insurance sector, which has recently seen a significant increase in activity across all services post-pandemic.

The total level of compensation awarded in 2022 increased by 16.5% compared to the previous 12 months to 2.93 billion euros, surpassing the amount of compensation awarded in 2019 before the pandemic.

“We are continuing to see significant increases in customers accessing care with a 25% increase since 2019 in the number of people receiving treatment in private hospitals,” Irish Life Health managing director Ger Davis, reports RTE.

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