Alex White (Dublin South, Labour) | Oireachtas source

The Minister for Finance has agreed rates with the Minister for Health which seek to strike a balance between supporting older and less health people and sustaining the private health insurance market. The rates set must also take account of the ageing market profile and claims inflation. I am pleased to note in this regard that the Health Insurance Consultative Forum, having been established by the Minister for Health, has been tasked with driving savings in the market, the effect of which should be to minimise the need for increases in premiums. If the risk equalisation rates are set too low, the risk equalisation scheme will be ineffective and result in higher premiums for older and less healthy members. As I have indicated, as that would break community rating, we must prevent this from occurring. There is no increase in costs in the market. The levy is recycled into risk equalisation credits for those who need support in the overall context and in the spirit of community rating.

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