Major blow for Irish families as Laya to hike health insurance prices in weeks with some plans scrapped

The Irish Sun

17 hours ago

Premiums are set to increase by an average of 4.5 per cent
PRICE HIKES Major blow for Irish families as Laya to hike health insurance prices in weeks with some plans scrapped
HEALTH insurers Laya Healthcare are set to raise their prices in weeks - with some families facing hikes of over 700.
Premiums are set to increase by an average of 4.5 per cent on a number plans from October.
2
Laya healthcare is increasing rates on a number of plans
Credit: Laya
These increases will only apply to new policies and renewals from October and existing policyholders unaffected.
Advertisement
The health insurer is also retiring 10 of its existing policies.
Any customers with these existing plans will automatically be switched to an equivalent plan on their renewal date.
Laya will legally need to contact these customers and offer alternative options with similar benefits.
Health Insurance Expert Dermot Goode said the hikes were 'expected as they're following previous trends' of increasing rates twice per year - in April and October.
Advertisement
The previous increase was an average 6.6 per cent which occurred in April 2025.
Mr Goode said: 'This average of this latest increase is 4.5 per cent. However, members need to be wary of these average figures as the actual increase on their plan may be significantly higher
'The reason for the increase is the rising cost of claims, especially from the private hospital sector.
'It appears that all insurers are still struggling to contain these costs especially as members want access to the new emerging treatments, drug therapies and technology.'
Advertisement
The insurance pro said some plans will not be increasing at all such as Assure Protect, Inspire and Inspire Plus.
He said: 'The Signify Care scheme will increase by c. €54 per adult or €80 for a typical family, in line with the average.
'Other plans such as Simply Connect Plus will see a much higher increase, i.e. €289 for an adult or €716 for a family (12 per cent).
'Another plan, Momentum will increase by €283 or 10 per cent for a single adult.'
Mr Goode said the advice to all consumers now is to 'never just accept these increases' and 'don't allow your cover to auto-renew'.
Advertisement
He continued: 'Members have six weeks now to engage with the insurer to source alternative, better value, cover.
'Always disclose your budget and challenge the insurer to find you a similar cover that fits this.'
OPTIONS
All insurers including Laya will be launching a range of lower cost options to help consumers who will struggle to afford these hikes.
Mr Goode added: 'Unfortunately more increases are expected as insurers look to review their rates in advance of the peak renewal period when half the market or c. 1.25 million members look to renew their cover
'These latest increases may be less for families as Laya is introducing some discounted offers for children under 18.'
Advertisement
Managing Director of Laya healthcare D.O O'Connor told RTE that the cost of delivering healthcare is "going up across the world, and Ireland is no exception".
He said: "Demand for health services is at an all-time high, particularly in the private and hi-tech hospital settings where we're seeing a 14.8 per cent increase in 2025 claim costs (year-to-date) when compared to last year.
"While advances in medical technology and new therapies are delivering welcome improvements in health outcomes for our members, this comes at the highest cost we've seen in over 25 years.
"Our product review aims to strike a careful balance between delivering fast access to healthcare while safeguarding affordability of cover for our members. "
2
Laya Healthcare will introduce the new dates from October 1
Credit: Laya Healthcare