Financial experts have warned that health insurers will require extra funding to operate the planned universal health insurance (UHI) scheme.

UHI, which has a target launch date of 2019, will be run on behalf of the State by a number of insurance companies.

The Society of Actuaries in Ireland has suggested that, to meet regulatory requirements governing the amount of capital required to be held by insurers, the additional capital required by insurers to operate a UHI system could be between €1.6 billion and €2.4 billion.

"In practice, the cost of this additional capital will be borne by consumers," the Society said.

It added that a full and open consultation will be required as part of the assessment of what is to be included in the 'basket' of services to be covered under UHI.

The basket will contain basic health services that will be covered under a person's UHI contribution. Extra services outside the basket will require additional contributions, and older people will be charged more for these services.

Some services, like emergency care, will continue to be covered by the State and will not be included in the UHI scheme.