VHI: Cost of funding claims to rise 7% in 10 years

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: Cost of funding claims to rise 7% in 10 years

Last year VHI spent €1.3 billion in funding the healthcare needs and medical expenses of its customers, up 14% on the previous year, with more than 50% spent meeting the healthcare needs of its older customers.

The health insurer has reported a loss of €41.7m after tax for last year, compared with a deficit of €65m for the 10 months to the end of 2008.

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