Major Hike In Health Insurance Costs

Coming is little harsh for who wanted the health insurance. Health insurance planning rates are going to be increased in 15% in the new year.

Recently, Hibernian Aviva increased its premia by 12% and VHI will,also up its rates in the new year.

Quinn Health care said its newly-announced increase was a result of the Government’s health insurance levy which was introduced aimed at making health insurance affordable for older people by decreasing the risk differentials for health insurers between old and young customers.

This followed the risk equalization scheme being annulled by the courts last year.

With private bed charges in public hospitals likely to be increased substantially in the December 9 Budget, further major increases in health insurance costs can be expected later in 2009.

Health insurance, along with other healthcare charges, are one of thefew areas of the economy to have increased in cost over the past year, according to the Consumer Price Index.

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