The Health Insurance Authority (HIA) is today publishing the recommendations that it provided to the Minister for Health on the risk equalisation credits and stamp duty for the 2023/24 period. The HIA has recommended no change in the level of HUC credits or in the parameters (threshold and cost share) for the high cost claims pool (“HCCP”), and a reduction in some of the levels of age credits for some age groups. As this will be the first year that the full impact of the HCCP will be experienced, the amount of the overall fund covered by the HCCP will increase from 6.5% to 11.4%. This means that the proportion of credits going to health status will increase to 34.1% (from 30.0%) and the amount of credits applying to age status will decrease to 65.9% (from 70.0%).
Stamp duty will increase for Advanced Products from €406 to €438 (an 8% increase). There will be a reduction in the Non-Advanced level of stamp duty relative to the Advanced level of stamp duty from €122 to €109 (a 12% decrease) reflecting the fact that those with Non-Advanced health insurance plans have seen a sharper reduction in claims, compared to those with Advanced plans.
The HIA has estimated that there is currently a surplus in the Risk Equalisation Fund of €55m, which has been applied to reduce stamp duty.