VHI customers could be in line for refunds of up to €300 per adult.
The move by the private health insurer is down to a reduction in claims during the ongoing Covid crisis.
All customers who have an active policy as of May 1st will be eligible for the welcome waiver.
Adults will receive somewhere between €75 to €300 depending on their policy plan, while children will save anywhere between €25-€75.
Customers will be in receipt of correspondence from VHI regarding the amount due in the coming weeks, while payments will be completed by the end of May.
The insurer also said that policy prices will be cut by 3% on average from May 1st.
In total, €450 million will have been returned to customers since the beginning of the pandemic.
Speaking to the Irish Times, VHI chief executive Declan Moran said: “We understand that customers are under increased financial pressure with inflation building."
He continued: "Therefore, we are pricing this expected reduction in claims into our pricing with an average 3% drop in premium price across our plans for the year ahead."
