Health insurance price cuts
Senator Byrne welcomed VHI’s reduced plan prices and suggested they could trigger wider competition and lower health insurance costs.
I welcome the news that the VHI has announced it will reduce the cost of 26 of its 78 plans. This is a positive development. I encourage people to shop around for their health insurance. This raises the question of whether there will be a price war among the different health insurance companies. The cost of insurance has often been referred to in the Chamber and, hopefully, this will be the start of price decreases. It is important that people have private health insurance but because the prices were so expensive, many were discouraged from purchasing. Hopefully, this is the start of things to come.