Health Minister Mary Harney announced that premiums will become high for those employers who will wait for the policy to take effect. This movement includes a new form of risk equalization to allow in the transfer of funds between employees and employers.

This regulation encourages people to take insurance as early as they can and lower the number of those who takes the insurance during their ill age. People in mid-30’s onwards are the expected age for those who will first work out with higher premiums.

Ms. Harney also said that she will push this regulation in the end of the year and will take full force early next year, 2011.

But, she also emphasized that this is only going to take effect on those who are first time taker and not to people that already members and are planning to switch.

Ms. Harney also incited the Penalty when this regulation is not complied.

When regulation is introduced, insurers are given few months to incorporate the loading in to their policies.

She also expected that comments on claims that increase in premiums is going to be outrageous as a result of new reform proposal.

Tags | Health Minister Mary Harney, insurance, premiums