The number of people with private health insurance is continuing to fall, new figures from the Health Insurance Authority (HIA) have shown.

According to the latest figures, at the end of June 2014, 2,017,000 people held inpatient health insurance plans. This is 11,000 fewer people when compared to the end of March 2014.

It is also 41,000 fewer people when compared with the end of June 2013 and is a big fall when compared to the peak of 2.3 million in 2008.

VHI remains the biggest insurer in the country, with just over half of all consumers purchasing plans from it. Laya Healthcare is the second biggest insurer, with almost one in four consumers opting for it.

Some 15% of consumers with private health insurance are with Aviva Health, while the newest entrant to the market - GloHealth - has 4%.

Among older people with private insurance, VHI is the clear market leader. Some 75% of people aged 70-79 and 87% of people over the age of 80 are with VHI, while GloHealth has no customers over the age of 70 on its books.

Meanwhile the HIA reminded people that new rules encouraging people to take out insurance at a younger age have been signed into law. Known as Lifetime Community Rating, the aim is to encourage people to take out insurance ‘at a younger age, thereby helping to control premium inflation across the health insurance market'.

Community-rated markets depend on the ongoing entry of younger people, as they tend to claim less on their policies, which keeps premiums down for everybody.

Under this rating system, from May 1 2015, anyone aged 35 or older who wishes to take out private health insurance for the first time will be charged extra for doing so. From that time, insurers will be allowed to load premiums by 2% per annum from the age of 35,

Anyone aged 35 or older who wishes to take out private health insurance without being loaded against has until May 1 to do so. Existing customers who continue to retain their cover will not be affected by the move.