HEALTH INSURANCE COMPANY VHI has announced a 2.75% increase in the price of its plans.
The price hike will take effect from 1 October this year and will be the fourth increase in 12 months.
It said that increases were “necessary” as “both demand for healthcare services and the cost of delivering healthcare continue to rise”.
Health insurance expert Dermot Goode said this could cost an individual an additional €35 to €65 a year.
For those on VHI’s higher plans, the increase could be between €110 and €150 extra per year, he said.
The company, which is Ireland’s largest healthcare provider, increased premiums in by 3% in March and October 2025, as well as in March of this year.
VHI, which holds a 48% market share of the health insurance market, also almost doubled its surplus after tax to €71.2 million last year.
The company is a commercial state body under the aegis of the Department of Health and so reports a surplus rather than profit.
The company said that the number of claims increased by 5% this year, with the company paying out €1.84 billion in claims last year.
Private hospital claims rose by over 9% in 2026, with daily care costs including GP, physiotherapy and consultants increasing by approximately 14%, VHI said.
Aaron Keogh, managing director of VHI, said: “Any surplus made by VHI is reinvested to improve member services, enhance benefits, expand access to care and support the delivery of better healthcare. This enables us to continue investing in the healthcare supports and services that matter most to our members.”
VHI also says it is introducing other services for members, including enhanced fertility supports and expanded mental health supports for children.