Irish health insurance regulations to be confirmed

The Irish Government is set to publish new regulations in the Dail that reduce the amount new health insurance companies have to pay to the state-owned health insurance company VHI.

The adjustments to the risk equalisation policy that forced BUPA out of the Irish medical insurance market is regarded as better late than never by many experts concerned over the lack of competition in the Irish health insurance market. The government reduced payments to VHI by 20 per cent, following the publication of the Barrington Report on health insurance .

The changes are a necessity, according to government experts. The leading body is also examining initiatives to encourage more people to take out health insurance at a younger age. VHI claimed that such a move would result in higher premiums. Private health insurance in Ireland may become more expensive.