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US insurer, VSP, launch in Ireland

Monday, March 10 10:38:11

VSP Vision Care, the largest vision benefits and services company in the US, to launch its business in Ireland.

The US group provides vision benefit services to one in five Americans and the company is now offering this service in Ireland.

VSP Global companies also include Marchon, the third largest manufacturer, designer and distributor of fashion and technologically advanced eyewear in the world.

Speaking at the launch in Dublin, VSP Vision Care President, Jim McGrann said: "Many of our global clients have operations in Ireland, and they have asked us to bring our product into this market. Eye care and eye exams are low-cost and effective solutions that play a key role in supporting the overall health of the population. Many chronic health conditions - such as diabetes, high blood pressure and high cholesterol - can be detected through an eye exam, providing the opportunity for early detection and management of these diseases, which in turn can deliver better health outcomes for employees and cost savings for employers."

VSP plans to partner with employee benefit companies and health insurers to make the vision benefit options available to Irish employers. The company will also work with a network of independent opticians in Ireland to deliver eye care examinations. The financial cost of vision impairment and blindness in Ireland is estimated to be E386.09 million; of this, E56.72 million is the cost of lost productivity to the Irish economy. Eye exams also provide the opportunity for further significant savings as a result of the avoidance of disease complications, which impacts both employers and the economy.

"We know there is a very challenging climate in the private health insurance market in Ireland, and we are confident that by introducing a vision plan, employers and insurers can deliver better health outcomes for their employees and members. Annual eye exams can reduce healthcare costs, improve productivity and reduce workforce absence rates," added McGrann.