Health insurance - Look behind price hikes

The two main health insurance companies VHI and Quinn Healthcare have announced that substantial price increases will be introduced in the new year.

VHI premiums will go up by 23% and Quinn Healthcare by an average of 16%. The latter blames the increase on the new health insurance levy of 8%. It was virtually inevitable that the companies would pass on the levy to customers, as the Irish Examiner predicted at the time.

Hibernian Healthcare has announced that it has no plans to increase its prices. This will hopefully encourage competition in the market place.