Dáil Éireann Debate, Wednesday - 5 February 2014
175. Deputy Billy Kelleher asked the Minister for Health with regard to the recent VHI premium increases, when he was first informed of same; if he took any action to stop it; and if he will make a statement on the matter. [5775/14]
View answerThe recent VHI premium increases, at an average of 3%, are considerably lower than in previous years. This reflects my emphasis on the need for VHI and all health insurers to address their costs. I was notified shortly after the VHI Board agreed the increases. VHI is a commercial company operating in a competitive market and it makes its own commercial decisions about its prices. I have no legal power to intervene in this process.
I have consistently urged VHI and all private health insurers to do everything possible to keep down the cost of private health insurance so that it is as affordable for as many people as possible. Last year, I appointed Mr Pat McLoughlin to work with the insurance companies and my Department on an independent review process to identify effective cost management strategies to help ensure the long-term sustainability of the private health insurance market. The second phase of the report has commenced and will report within three months.
