VHI risk equalisation demands condemned

STATE-OWNED VHI Healthcare, the dominant private medical insurer, was accused yesterday of being anti-consumer.

The introduction of risk equalisation - whereby Bupa would be forced to pay millions in compensation to VHI because of the aging profile of its customers - would be bad for consumers and kill competition and innovation, according to VHI’s two main competitors.

Bupa Ireland and Vivas Health were appearing before the Joint Committee on Health & Children which is examining reform of the Irish insurance market.