Consumers' Association criticises VHI premium price-hike plan

The Consumers' Association is criticising the VHI's plan to increase its premiums.

From November 22, the cost of the majority of its health insurance plans will increase by 2%.

The company said it was increasing its prices because the insurer continues to be loss-making and

that additional revenue is needed to continue to fund the needs of customers.

This is the second price increase which the VHI has announced this year.

In January, the company hiked its premiums by up to 45%. Prices rose by 15% for 60% of its customers while the remaining 40%, which include Plan B, C, D and E options, saw their premiums rise by between 21% and 45%.

CEO of the Consumers' Association Dermott Jewell said the latest hikes would leave people struggling to afford health insurance.