VHI urges higher tax credits for elderly

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 chief executive Jimmy Tolan predicted any increase in premiums next year could be kept to single-percentage figures if the Government ensured the health insurance market operated a proper community rating system. Under this, all customers would pay the same premium regardless of age.

However, he warned that existing tax credits on private health insurance for customers over 60 were “at the wrong level”.