Your health insurance could be about to get significantly cheaper
Health insurer VHI has said that it will lower the price of 26 of its 78 health insurance plans as part of a series of wholesale changes.
The majority of changes, will take effect on November 1, 2017 and will include price reductions, enhanced day to day cover, lower excesses and the introduction of new product benefits including cardiac, cancer care and maternity programmes.
The price of young adult plans, 18-20, has been reduced in most plans by an average of 7%.
Child rates have been aligned on 27 of their plans, at an average reduction of 12%.
For adults, the reductions are more marginal with a 1%-5% decrease on some of their adult plans.
For example, those on the old Plan D (now Health Plus Premium) will see a reduction of 5% per adult or €173 per adult.
Dermot Goode, from totalhealthcover.ie said, "While it’s too soon to tell what affect this will have on the market overall, it will be interesting to monitor the reaction from the competition."
He described it as a welcome and surprising development which bucked the usual trend of price increases in the run up to the peak renewal period.
Commenting on the announcement, Mr Declan Moran, Director of Marketing and Business Development, at VHI said that he believed the changes announced are good for customers and would have, "A positive impact on their health and wellbeing."