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Health insurer Laya ups prices 16.5pc

Friday, February 22 17:23:14

Private health insurer, Laya Healthcare, today said it is to hike premiums by up to 16.5pc citing Government policy on hospital bed charges.

The rice increases will range from just over 6pc to 16.5pc, with the company putting the average increase at 10.8pc.

It is the second price hike announced by Laya in just three months. At the beginning of December, it increased the cost of policies by between 3 and 14pc.

"We are very conscious of the impact this increase may have on our members," the company's managing director Donal Clancy said yesterday. He said "cost variables in the market which are outside of our control" were behind the latest increases.

"These are primarily the increases to the Government health levy, which VHI continues to benefit from, and the rising cost of providing medical treatments for our customers," Mr Clancy said.

Mr Clancy pointed to an increase in the Government health levy from E285 to E350 per adult, and from E95 to E120 per child from March 31st and he noted that since its introduction as an interim solution to risk equalisation in 2009, the health levy had gone up by 119pc per adult and 126pc per child.