Written answers

Tuesday, 23 June 2015

Department of Health

Health Insurance Regulation

Photo of Billy KelleherBilly Kelleher (Cork North Central, Fianna Fail)
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405. To ask the Minister for Health if he expects Voluntary Health Insurance to acquire the necessary fund for reserves to make an application for authorisation by the Central Bank of Ireland by 30 June 2015. [24540/15]

Photo of Leo VaradkarLeo Varadkar (Dublin West, Fine Gael)
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The Central Bank of Ireland has completed its assessment of VHI's application for authorisation and has agreed to its authorisation in principle, subject to the provision of a capital requirement. VHI is committed to self-funding the required capital and is engaged in the preparatory work to put the capital in place.

Once VHI's authorisation is complete, it will be regulated by the Central Bank as a non-life insurance undertaking.

I trust this clarifies the matter for the Deputy.

Photo of Billy KelleherBilly Kelleher (Cork North Central, Fianna Fail)
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406. To ask the Minister for Health when Voluntary Health Insurance will publish its annual reports and accounts for 2014. [24541/15]

Photo of Leo VaradkarLeo Varadkar (Dublin West, Fine Gael)
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In accordance with the VHI Acts, the VHI is required to submit its Annual Report and Accounts to the Minister for Health, and I am required to lay the Annual Report and Accounts before the Houses of the Oireachtas.

I understand the VHI's 2014 Annual Report and Accounts are currently being finalised and will be submitted shortly. I will then make the relevant arrangements for them to be laid before the Houses of the Oireachtas.

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