Health insurance cover will rise by 200 euros this year

According to Irish health insurance news, customers of state-owned health insurance company VHI will see their health insurance premiums rise by some 200 euros this year. The figure applies to a typical family covered by one of VHI’s mainstream plans.

The country’s largest health insurer, VHI, has 1.4 million members. The annual increase will apparently come into effect from February. Prices across the board in Irish medical insurance cover are increasing, including from other insurance companies such as Quinn Healthcare and Aviva.

The chief executive of VHI, Jimmy Tolan, last night defended the increase. He reportedly commented: VHI expects to generate total underwriting losses of at least €80m in 2009 and will have losses of over €170m in meeting the healthcare needs of its 280,00 customers who are 60 years or older.