State owned health insurer warns of impending financial crisis

The company attributes its reversal in fortunes to the absence of risk equalisation to which its competitors, BUPA and Vivas, are bitterly opposed. Risk equalisation will see the additional cost of community rating shared between insurers

State owned health insurer warns of impending financial crisis

VHi Healthcare, Ireland's leading health insurer, has announced a sharp decline in its annual profits. The news appears to reinforce the company's position in its dispute with Mary Harney, the Minister of Health and Children, that it should benefit from risk equalisation to compensate for the higher risk profile of its portfolio.