Vhi announces an average price increase of 2% effective from 1st March 2020
28th January 2020 - Vhi announced that it will increase its prices by an average of 2% across a range of plans effective from 1st March 2020. The price increase is necessary to cover the costs of providing quality healthcare to customers in 2020 and beyond, including, access to new technologies, new drugs and new procedures. Increasing claims costs are the main drivers of the price increase.
Mr Declan Moran, Director, Marketing and Business Development said “keeping private health insurance affordable while delivering better healthcare outcomes to our customers is at the heart of what we do. We have sought to keep the price increase as low as possible without compromising on cover. Vhi exists solely to meet the healthcare needs of our customers and where we can, we give back to our customers. However, in the last year we have seen a significant increase in claims paid on behalf of our customers. In particular there has been an increase in activity in private hospitals.”
He continued “primary care claims have also increased because our customers are now using their “day to day benefits” more often. In 2018, we improved primary care cover on our health insurance plans and customers are now getting more value back from their health insurance. It is also easier for people to claim back on their health insurance through innovative technologies delivered through our Vhi App such as “Snap and Send”.
He concluded “In 2020 we will continue to focus on driving innovation in the private health insurance market, on delivering healthcare solutions for the benefit of our customers, while also robustly managing costs and ensuring that our customers are treated in the most appropriate setting. Over the last number of years Vhi has enhanced the benefits available right across our plans and in particular expanded the range of Health & Wellbeing services dedicated to Vhi customers though our Vhi SwiftCare Clinics in Dublin, Cork and shortly in Limerick , our Vhi Hospital@Home services on the East and West Coast of Ireland and our Vhi Screening facilities “.
ENDS
Issued by:
Brighid Smyth / Niamh Walker
Vhi Group Services DAC
Ph: 01 6147348 / 01 887 1825
M: 086 8270905 / 086 608 6764
Note to Editors – Examples of Price Changes
One Plan Family |
Standard Rates pre 1st March 2020 |
Standard Rates from 1st March 2020 |
€ Increase per month |
Adult Rate |
€1,226.67 |
€1,253.78 |
€2.26 |
Child Rate |
€239.06 |
€249.10 |
€0.84 |
2 Adults + 2 Children |
€2,931 |
€3,006 |
€6.19 |
|
|||
Public Plus Care Day-to-Day |
Standard Rates pre 1st March 2020 |
Standard Rates from 1st March 2020 |
€ Increase per month |
Adult Rate |
€509.99 |
€519.68 |
€0.81 |
Child Rate |
€143.57 |
€148.88 |
€0.44 |
2 Adults + 2 Children |
€1,307 |
€1,337 |
€2.50 |
|
|||
One Plan |
Standard Rates pre 1st March 2020 |
Standard Rates from 1st March 2020 |
€ Increase per month |
Adult Rate |
€1,161.30 |
€1,187.16 |
€2.16 |
Child Rate |
€232.40 |
€242.16 |
€0.81 |
2 Adults + 2 Children |
€2,787 |
€2,859 |
€5.94 |
|
|||
HealthPlus Access |
Standard Rates pre 1st March 2020 |
Standard Rates from 1st March 2020 |
€ Increase per month |
Adult Rate |
€2,099.28 |
€2,167.11 |
€5.65 |
2 Adults |
€4,198.56 |
€4,334.22 |
€11.30 |
Vhi_Press
28-Jan-2020