James Reilly (Dublin North, Fine Gael) | Oireachtas source

I move amendment No. 9:

In page 10, paragraph (a)(i), line 42, to delete " "90" " and substitute " "60" ".

My priority is implementation of a robust risk equalisation scheme, while minimising the impact on an insurer's ability to carry on its business. However, in response to market proliferation of products - I mentioned that while the figure provided in this regard was €200 plus, in reality it was €5,000 - and segmentation strategies designed to restrict access to certain products, the provisions for the notification of products to the Health Insurance Authority are being revised. We are introducing two levels of cover. The HIA requires time to evaluate product categorisation. If types of health insurance contract were allowed to change during the course of the year, they could be changed in such a way that the stamp duty and risk equalisation credits applicable to them would no longer be appropriate.

My Department chaired three meetings of the consultative forum on health insurance which comprises the four health insurers, the Health Insurance Authority and my Department. At these meetings the central focus was on the Bill before the committee. The meetings provided insurers with an opportunity to participate in and directly contribute to discussions on a planned working of the scheme. I thank the insurers for their constructive input and I am pleased to say that following consideration of the suggestions made, I have agreed to propose amendments Nos. 9, 11, 15 and 16 which will allow insurers an opportunity to trade into the new system and reduce the impact on their businesses of the revised notification periods.