TWO HEALTH INSURERS have announced price hikes for customers this year, which will result in some families paying hundreds extra in annual fees.

Irish Life announced an increase to its premiums of almost 6%, the second time it has raised its prices this year, which will likely amount to families paying an extra €180 to €330.

Level Insurance, also announced that it will increase the cost of the health insurance levy on the majority its private plans by €48.

The changes for Irish Life will come into effect on 1 April of this year, while those for Level Health will become effective on 3 April.

Irish life said its increase was “a consequence of continuing medical inflation and the Risk Equalisation levy charge announced by the government”. 

The result is a 5.9% rise in gross premiums across its insurance plans, which will apply to new customers as well as existing customers who renew after 1 April. 

Irish Life’s managing director Ann Marie Nestor said that increases in the cost of delivering healthcare “continue to be a challenge for health insurers” and that the rising costs are outpacing general inflation. 

“Consequently, the price of medical care, medicines and treatments is increasing at a higher rate than everyday household expenses,” she said.

“The nature of customer claims has evolved,” she added. 

“More customers have access to specialised treatment, using more sophisticated and in many cases, more expensive technology.”

Irish Life made a profit of €144m in 2024, down from €239m in 2023.

Level Health’s increase will impact people on the company’s ‘Advanced’ plans B, C and D.

The company claimed the decision was due to a decision by the Department of Health to increase the health insurance levy.

“Level Health recognises the cost-of-living pressures faced by households and we work hard to keep the cost of our health insurance plans as low as possible,” the company’s CEO Jim Dowdall said. 

Today’s announcements follow a wave of recent insurance premium hikes from companies across the industry.

Last year, Irish Life announced an increase of 3.7% in January, 2% in April, 3% in October. Then again in January 2026, the company raised its premiums by another 5%.  

“We estimate that this will cost anything from €75 – €238 for one adult on mid-level plans or higher. Looking at some of their popular family schemes, this could cost a typical family an extra €180 – €330 for the year,” said Dermot Good, an industry expert  with Health Insurance Ireland.

Goode warned is a “real risk” people may end up being priced out of the health insurance market altogether.

“Whilst some plans will not increase, we understand that the highest increase on certain plans will be up to 11%. We have no details on which plans will be impacted by this percentage as of yet,” he said.

Contains reporting by Stephen McDermott.