The 700,000 members of Laya Healthcare are set to face increases of 6.5 per cent on average from the beginning of October.
The health insurer also said on Friday that new changes to benefits covering excess and shortfall payments will be introduced across a range of its plans and will be set out directly to subscribers in advance of their renewal dates.
“A ‘per visit’ excess (which subscribers have to pay) will be introduced on the QuickCare benefit that gives fast access to treatment for minor injuries and illnesses in a wide network of approved centres including Laya’s own network of Laya Health and Wellbeing clinics. The excess amount varies depending on scheme and level of cover and will give greater certainty on out-of-pocket cost for urgent care access for members.”
The announcement on Friday means that Laya Healthcare members will have seen prices rise on three occasions in a year.
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Laya Healthcare managing director Dónal Clancy said that the new increases and product review were needed to address a sustained acceleration in demand for healthcare services and rising costs.
He said in the first half of the year the company had seen an 11 per cent increase in private hospital claim costs when compared to 2023. He said this was driven in particular by a rise in cardiology and cancer claims – where there had been a 29 per cent increase in claim costs over last year. He said high -cost drugs had risen by 35 per cent in the first half of 2024.
“We continue to prudently manage claims, including extensive claim cost management to ensure that our members are getting the most appropriate care in the most appropriate setting for their needs, and at a price that’s sustainable and help keeps health cover affordable for our members.”
“Across the world, the cost of healthcare is rising, and this is being compounded by a significant increase in demand for healthcare among our ageing population. While advances in modern healthcare, including new technologies and high-cost drugs are delivering better outcomes for our members, they are significantly driving costs up, particularly in private and hi-tech hospitals. A pricing and product review is needed in order for us to meet the current and future needs of our members.”
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