It will come into effect from August 1.
The health insurance company says the hikes are "necessary to ensure the cost of the future healthcare needs of its customers in 2020 and beyond."
Vhi director of marketing and business development Declan Moran claimed that although it has announced price increases, Vhi customers’ average premium prices are still lower than in August 2017.
“Vhi is very conscious that our customers face financial pressures. Vhi has kept costs down over the last number of years through prudent cost management and has passed the benefits of reduced claims costs, particularly in public hospitals, back directly to our customers in price reductions and increased benefits.”
Vhi paid out €1.328 billion in claims and processed almost 1.2 million claims for its 1.1 million customers last year.
