Members of the public who do not have private health insurance are being reminded that from the start of next month, anyone aged 35 or older who takes out insurance will be charged extra.

From May 1, private health insurers will be allowed to load premiums by 2% per annum from the age of 35, as part of Lifetime Community Rating, which was signed into law last summer by former Health Minister, Dr James Reilly.

This will be a permanent age-related loading of 2% per year over the age of 34. For example, if a 54-year-old decides to take out private health insurance for the first time after April 30, they will have a loading of 40% added to their premium every single year that they remain insured.

The maximum loading is 70% and this will apply to people aged 69 and older who take out insurance for the first time after April 30.

According to the HIA, these changes are being introduced ‘to encourage more people to take out health insurance at a younger age and in this way, support the affordability of health insurance premiums for all'.

"A rapidly closing window up to April 30 remains open for those aged 34 years and older who may be considering taking out private health insurance to get cover now and thereby avoid an age-related loading on their future health insurance premiums, We would urge anyone that does not have health insurance to inform themselves about Lifetime Community Rating and the changes that come into force on May 1," commented HIA chief executive, Don Gallagher.

For more information on this, click here, or call the HIA on 1850 929 166.