Laya Healthcare will raise the cost of its health insurance policies by an average of 4.5% starting in October, reports RTE.
The insurer, which serves over 700,000 members, also plans to phase out ten of its current insurance plans.
Customers will receive notifications about any relevant changes when it’s time to renew their policies.
The price adjustments will only apply to policies taken out or renewed from October onward, meaning current policies remain unchanged, reports RTE.
Policyholders currently on one of the discontinued Laya plans will be automatically transitioned to a comparable plan upon renewal.
Laya will contact these members directly to present them with alternative plans offering similar benefits, as required by law.
However, policyholders are not obligated to accept the new plan and are free to select a different one from Laya or explore options from other providers, reports RTE.
This marks Laya’s second price hike in 2025, following a 6.6% average increase in April.
Health Insurance Expert Dermot Goode, commenting on the latest announcement, said “this was expected as they’re following previous trends of increasing rates twice per year, i.e., in April and now in October, reports RTE.
“This average of this latest increase is 4.5%. However, members need to be wary of these average figures as the actual increase on their plan may be significantly higher. The reason for the increase is the rising cost of claims, especially from the private hospital sector. It appears that all insurers are still struggling to contain these costs especially as members want access to the new emerging treatments, drug therapies and technology,” he added, reports RTE.
Mr Goode’s review of the changes found that some Laya policies, including ‘Assure Protect’, ‘Inspire’, and ‘Inspire Plus’, will not see any increase.
However, the ‘Signify Care’ policy will rise by about €54 for an adult or €80 for an average family, reports RTE.
Other plans, like ‘Simply Connect Plus’, will face a much steeper rise of 12%, translating to €289 for an adult or €716 for a family, reports RTE.
Laya’s ‘Momentum’ plan will go up by €283, which equals a 10% rise for a single adult.
Mr Goode said “the advice to all consumers now is to never just accept these increases … don’t allow your cover to auto-renew, reports RTE.
“Members have six weeks now to engage with the insurer to source alternative, better value, cover. Always disclose your budget and challenge the insurer to find you similar cover that fits this.”
Laya Healthcare Managing Director D.O O’Connor commented on the price increases, stating “the cost of delivering healthcare is going up across the world, and Ireland is no exception.”
“Demand for health services is at an all-time high, particularly in the private and hi-tech hospital settings where we’re seeing a 14.8% increase in 2025 claim costs (year-to-date) when compared to last year. While advances in medical technology and new therapies are delivering welcome improvements in health outcomes for our members, this comes at the highest cost we’ve seen in over 25 years. Our product review aims to strike a careful balance between delivering fast access to healthcare while safeguarding affordability of cover for our members. Our product review gives our members greater choices and flexibility in their plans to keep their health cover at a cost that’s within reach,” reports RTE.
Tell us your thoughts in the Facebook post and share this with your friends.
