People who've been vaccinated against COVID-19 could face less stringent restrictions from as early as next month.
NPHET's looking at what a "vaccine bonus" might look like, and plans to make recommendations to Government in the coming weeks.
It comes as the US issued new guidance for those who've been fully vaccinated.
They're being allowed to meet other vaccinated people indoors, without a mask or social distancing.
They also don't need to self-isolate when they're a close contact of a case, unless they have symptoms or live in a group setting.
However, most other rules haven't changed.
Vaccinated people are still being told to wear masks and stay socially distant when out in public, and are still being advised to avoid large gatherings.
Deputy Chief Medical Officer Dr Ronan Glynn said the situation in the US is being examined closely.
He explained: "We will be considering it further in the context of the advice we give to Government going into what will hopefully be the next easing of measures.
"We're looking specifically at the issue of nursing home visitation this week.
"I'm hopeful that over the coming weeks we'll be able to start telling people what the bonus is from vaccination - what vaccination means you can and can't do."
With vaccination in nursing homes nearly complete, officials are expected to soon allow more visitors to the homes after months of restrictions.
It comes amid calls for vaccinated people to be allowed eat and drink in pubs and restaurants once those businesses are allowed reopen.
'Continued progress'
Meanwhile, another NPHET member says the drop in new COVID-19 case numbers may be even better than hoped.
Professor Philip Nolan, who chairs NPHET's modelling group, says all indicators are going in the right direction.
Another 437 new cases of coronavirus were confirmed yesterday evening, with no further deaths.
Professor Nolan said the average 7-day case count has now dropped below 500.
He said: "We're at a case count a little bit under 500 cases per day - that remains very high, but it's very significant progress when you look back at 620 a week ago.
"[There's] continued progress, and that progress perhaps is a little bit faster of the last 14-21 days than it was in the earlier part of February."
Latest figures show that more than 513,000 doses of COVID-19 vaccine had been administered as of last Friday.
