Insurance loophole could cut costs

FAMILIES facing spiralling health insurance costs could cut the price of the service significantly through a rarely mentioned loophole in the system, it has been claimed.

The Health Insurance Authority (HIA) has confirmed that under existing structures the majority of premiums offered to companies and their staff are provided at significantly lower rates than other alternatives.

However, according to the group, families or individuals are also entitled to request these same lower-priced insurance rates, resulting in a potential 10% reduction in costs.