The VHI says the latest increase will push up the price of its most popular product, Plan B, from €664.66 to €828 a year for a single adult. That's an increase of €163.34 annually, or €3.14 a week.
For a family of two adults and two children, the cost of Plan B cover will rise by €442.84 to €2,256. That's an €8.52-a-week increase after tax relief - an extra €1.22 a day.
The cost for a family on a Family Plan Level 1 will rise by €281.82 to €1,752 a year. That's an increase of €5.42 a week.
According to Quinn Healthcare, its price increase will see the price of an Essential Plus Excess policy rise from €539 to €642 a year for a single adult.
The cost of the same policy for a family of two adults and two children goes up from €1,496 to €1,776 a year.
The VHI says it will pay out an average of €745 for each customer to meet his/her medical needs this year.
It says that the cost of meeting customers' medical care needs has increased by €3.6 million a week compared to last year - €180 million more over the year.
Last year, the number of medical procedures it carried out in private hospitals increased by 14 per cent.
According to the VHI, it is paying out €30 million more in claims than it is receiving in premium income.
It also lost €30 million on its investment portfolio due to market volatility.
For cancer care alone, it paid out €165 million on nearly 80,000 claims last year, nearly double the amount paid out in 2003. Another €129 million went on cardiac care and €111 million on orthopaedics.
The VHI says that it has spent €4.9 million on one drug - avastin, for bowel cancer. It spent €4.3 million on herceptin for breast cancer.
Last year, it paid out about €100,000 for one patient with breast cancer who was treated with herceptin. Its chief executive, Jimmy Tolan, says new drugs are costing €20,000-€25,000 for each treatment.