The Vhi has said it will waive a portion of premiums for its health insurance policy holders, due to lower than forecasted claims levels this year as a result of Covid-19.
All policyholders will benefit from a waiver of premium to the value of €75 for every adult insured and €25 for each child insured.
Payments will commence in the last week in Janurary and policyholders will have the money paid directly to their bank account or by cheque.
Vhi said that the average family of two adults and two children will receive €200 back.
Earlier this year, Vhi waived a portion of premium by an average of 50% for a three month period due the restricted access customers had to private hospitals, after an agreement between the State and the Private Hospitals Association.
John O'Dwyer, chief executive of Vhi, said the agreement period between the hospitals and the HSE concluded at the end of June.
He said that following a review of claims activity, the company can see that claims were lower than anticipated.
Dermot Goode, from TotalHealthCover.ie, said the more members a Vhi customer has on their policy, the higher the rebate they will receive.
He noted that the rebate is the same for all members irrespective of which plan you have.
"Admittedly, this is an unexpected development given the upward trend of rates generally in the market, but it is absolutely good news for all VHI members – and it couldn't have come at a better time," Mr Goode added.
