Irish Life Health to increase premiums 3.7% from January [Video]

Irish Life Health has announced it will increase premiums by an average of 3.7% from January.

The price changes will apply for new customers and existing customers renewing their policies with the insurer from 1 January.

Irish Life blamed the increased use of expensive drugs for its decision to increase the gross premium across a range of plans.

All health insurance providers are continuing to experience sustained increases in the cost of delivering healthcare, albeit at a lower level than in the recent past”, the company said in a statement.

“The increased use of more expensive, high-cost drugs is also a significant clinical factor, with Irish Life Health experiencing a 58% increase in these costs since 2021.”

Additionally, Irish Life has seen significant increases in day-to-day benefit claims as customers seek out medical advice to more proactively manage their health, in turn leading to customers “seeing increased benefit from their insurance,” especially in accessing primary care.

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