The VHI is seeking an 8.5% increase to the average price of its health insurance premiums.
The company is set to announce the increase at a press conference later today, along with its annual results.
Over 1.5m people insured with VHI would be affected by this latest increase.
If Minister for Health Mary Harney does not exercise her veto, VHI subscribers will pay the increased premium from September.
On average, insurance premiums with VHI have already increased by 25% over the past two years, with the last increase of 12.5% announced last summer.
VHI has already notified the Ms Harney about its intentions.
The Minister has 28 days to object to the increase before it comes into effect.
