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Quinn-Healthcare to raise prices by 12%

Quinn-Healthcare says higher medical costs a factor in price rise decision
Quinn-Healthcare says higher medical costs a factor in price rise decision

Health insurer Quinn-Healthcare has announced plans to increase prices by an average of 12%.

The company blamed the rises on "continued pressure" on its business, including increases in the health insurance levy, which it says will have cost the business more than €100m from 2009 to the end of this year.

Quinn-Healthcare said changes to Age Related Tax Relief (ARTR), where relief for those aged 50-59 was most recently removed, had also had a significant impact on its costs.

It also said higher costs linked to medical advances, drugs and the cost of private beds in public hospitals had also contributed to the decision to hike prices.

The company said prices would change on various dates from January 1 2012, and would come into effect at the next renewal date of a policy.

Quinn-Healthcare is currently in the process of being sold. It was not included in the deal which involved Liberty Mutual and Angl Irish Bank's takeover of Quinn Insurance.