Vhi Healthcare chief executive Jimmy Tolan has informed the board of directors that he intends to step down to peruse a career in the private sector.

HEALTH Minister James Reilly intends telling VHI “in much firmer tones” of his concern about cost control measures being taken by the state-owned insurer.

VHI has promised that controversial price hikes of up to 45% in premiums this year are unlikely to be repeated in 2012 if the Government increases the current level of tax credits for elderly customers of health insurance firms.

Vhi Healthcare has announced a loss of €3.1m after tax for the 12-month period that ended on December 31, 2010.

CORK’S TDs are seeking a meeting with the chief executive of Vhi Healthcare next week in a bid to save a private hospital from closure.

SCARCELY four months after it opened, the country’s newest private hospital will today put its 75-strong workforce on protective notice following failure to convince the VHI to cover the facility.

THOUSANDS of angry and concerned VHI members jammed the call centres of health insurance companies and the Health Insurance Authority as they sought information on how to avoid price increases of 15%-45% announced by the VHI on Thursday.

THE Equality Authority should be asked to investigate the VHI for possible age discrimination against its elderly customers as a result of the decision by the state insurance company to raise its premiums by up to 45%, according to a Labour Party senator.

IF the announcement that price hikes ranging from 15% to 45% in VHI premiums from next month was not bad enough, the company’s chief executive, Jimmy Tolan, has warned that continuing increases in the cost of health cover over the coming years is practically inevitable.

ANNOUNCING staggering increases — up to 45% — in health insurance premiums the very month budget cuts plunder families’ wage packets and child benefit, VHI chief executive Jimmy Tolan said yesterday that Ireland’s health insurance market was broken.

Hard pressed families with private Vhi Healthcare are facing a massive €331 hike in fees to keep precious parents and children cover.

VHI Healthcare has warned that the annual cost of funding illness claims over the next 10 years will increase by at least 6% to 7%, compounding fears that the upward spiral in premiums will continue.

VHI made a post-tax loss of €41.7m euro in 2009.

THE country’s largest private health insurance provider has warned that older customers will end up paying more for their healthcare unless a new “robust mechanism” is introduced to overhaul the health insurance sector.

Hikes in health insurance bills for 1.4 million people will put more economic pressure on already hard-pressed households, Labour claimed today.

VHI Healthcare is to increase its charges by an average of 8%.

A war of words has broken out between rival health insurers after the VHI announced plans to slash prices for children as part of a revamp of its policies aimed at attracting young families.

HALF of patient-overcharging claims investigated by VHI Healthcare are upheld, prompting the private health insurer to beef up its special investigations unit (SIU) to clamp down on billing errors.

The EU Commission has approved Ireland's scheme of levies and tax relief in the health insurance sector, primarily aimed at making health insurance affordable for older people by decreasing the risk differentials for health insurers between old and young customers.

VHI which dominates the health insurance market with a 68% market share will need a capital injection of “at least €100m” to bring its solvency ratios into line.

VHI, the country’s largest health insurer, suffered a €65 million loss in the 10- months to December 2008.

VHI Healthcare has reported an after-tax loss of €65m for the 10 months up to the end of December last year.

THE VHI has denied the e20 million in savings it is using to slash the cost of child cover is “fat’” from the private healthcare system.

Health insurance bills will soar in the new year, it was revealed today.

A WALK-IN clinic which aims to treat people for minor injuries within an hour was officially opened by the Minister for Health Mary Harney yesterday.

AGE ACTION has called for moves to safeguard the principle of community rating in health insurance after reports that older customers could see the cost of their premiums triple without it.

CUSTOMERS are uncertain how health insurance premiums will be charged after a landmark court ruling quashed the legal basis for calculating fees.

Chronically ill and older patients could suffer after private health insurer Bupa was told it does not have to compensate State competitor VHI, it was claimed today.

VHI Healthcare has today announced a surplus of €55.4m earned from an income of €1.153bn after paying out just more than €1bn to cover customers’ medical bills.

Vhi Healthcare today announced that Mary Harney, Minister for Health & Children has appointed Mr Jimmy Tolan and Mr Declan Moran to the Board of Vhi Healthcare with effect from May 1.

Despite the significant industry wide cost inflation experienced during the past number of years continuing and accelerating during 2008, Fyfees trading performance for the first four months of the year has been well ahead of the same period in 2007.

FYFFES’ chief executive Jimmy Tolan will succeed Vincent Sheridan as head of VHI Healthcare.

A dull morning for building companies seems to have dampened the mood on the trading floor today as shares on the ISEQ-index lost 83.50 points by 11.30 am to stand at 6435.62.

Fruit distribution company Fyffes have announced the resignation of their chief executive who is leaving to take up the role of chief executive with Vhi Healthcare.

Fruit distribution company Fyffes has announced a number of changes to its board due to the demerger of its general produce and distribution business.

THE surge in profits at fruit importer Fyffes last year has been reflected in the pay packets of the company’s top bosses.

THE surge in profits at fruit importers Fyffes last year has been reflected in the pay packets of the company’s top bosses.

Ian Guider

DIRECTORS at fruit importers Fyffes saw their pay rise by just 3.5% last year, according to the company’s annual report.