Statutory Instruments

Health Insurance Act 1994 (Determination of Relevant Increase under section 7A and Provision of Information under section 7B) Regulations 2014

These Regulations provide for premium loadings to be applied to in-patient indemnity health insurance contracts purchased on and from 1 May 2015 and require registered undertakings to set different premium prices depending on the age at which an individual takes out health insurance. The Regulations provide that the loading in respect of an insured person shall be his or her premium before tax relief multiplied by 2% for each year by which his or her age at entry exceeds 34 years, subject to a maximum loading of 70%. The specified date of 1 May 2015, on and from which loadings will apply, will facilitate a grace period from 1 August 2014 (9 months) during which time people who are not currently members of the health insurance market can join without incurring loadings. A 9 month grace period will also apply for anybody who has his or her principal residence outside the State on 1 May 2015 and who has, after 1 May 2015, his or her principal residence in the State.   Download the S.I. No. 312 of 2014 here