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Health

Laya Healthcare customers facing premium hike of up to 13%

The insurer says the price increase is needed to fund a greater number of claims and escalating cost of medical treatment.

LAYA HEALTHCARE HAS announced that it is to increase its premiums across a number of its schemes with effect from 1 January, 2013.

The company, formerly Quinn Insurance, says the increases – ranging from 4 per cent – 13 per cent – are being introduced in response to a significant increase in the number of people making claims and the escalating cost of providing medical treatment “particularly in the high-demand areas of orthopaedics, oncology and cardiac care”.

The company has also cited “the regulatory environment in which the market operates” as a reason for the premium increase.

“We have worked very hard to keep these increases to a minimum and it’s disappointing that we’ve had to announce a price increase,” Dónal Clancy, Managing Director, Laya Healthcare, said:

The unavoidable reality however is that more people across the market are claiming more frequently and for significantly more expensive treatments. The resulting knock-on impact on costs is real and needs to be tackled urgently in terms of addressing the current regulatory framework and attracting more younger members who are vital in a community rated market.
We understand that Irish consumers are coming under extreme pressure but unfortunately, given the current cost of providing healthcare and the costly regulatory environment in which we operate, these increases are necessary.

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