Many customers find the health insurance market challenging with misconceptions around choosing the correct health insurance plan for the right price.
Dermot Wells, Head of General Insurance at Cornmarket comments: “It’s important to review your cover each year to ensure that you’re not overpaying for your cover and your plan continues to meet your needs. Insurers can make changes to your existing plan and unless you review your cover or read through your documents in detail, you could be caught unawares. Also, there are new plans developed each year, some specifically for corporate companies, but you are entitled to access these, many of which, may offer greater value and benefits. By reviewing your cover, you will have peace of mind knowing you are on the right plan to meet your needs and budget”.
Cornmarket Group Financial Services Ltd, Ireland’s largest health insurance broker, provide a comprehensive Health Insurance Comparison Service. Using specially built software, Cornmarket health insurance experts review health insurance cover and recommend the most appropriate plan for their customers particular needs. With over 330 plans available in the market, Cornmarket’s Health Insurance Comparison Service compares all existing health plans from the 3 health insurance providers in the market: Irish Life Health, Laya Healthcare and VHI Healthcare. Over 106,000* customers have chosen Cornmarket to help them find the right cover & in 2021 Cornmarket customers have saved on average €404** on their health insurance.
Finding the right health insurance plan for your needs can be a minefield. With so many plans on the market it is very difficult to compare like with like that many of us simply give-up and accept a modest increase on our renewal year on year. This is the number one reason for over-paying for cover. In recent years, health insurance increases have largely managed to fly under the radar as gone are the days of headline grabbing price increases of yesteryear. Instead, insurers have opted for numerous modest increases (between 2% & 4%) throughout the course of the year which may lead to a 7%- 9% increase when your plan falls for renewal.
Many of us simply accept this increase and move on without properly reviewing our needs and checking for better offers. Each of the 3 insurers have launched new plans in the past 6 months which may provide a better value alternative to your current plan and your insurer is under no obligation to offer you a new plan at renewal, however in many cases they may have a more suitable and more cost-effective plan for your needs. If you or your family have been on the same plan for 2+ years, there is a very good chance you are over-paying for cover. In one quick phone call, Cornmarket can review your health insurance needs to ensure you are on the most appropriate plan for your needs.
Cornmarket has a dedicated team of health insurance experts who do the shopping around for you, providing tailored plan options over the phone to suit your needs. The team offers impartial advice to help you find the right health insurance plan at the most reasonable price.
To learn more about Cornmarket’s Health Insurance Comparison Service and to get a quote call (01) 408 6235.
*Number of people insured through Cornmarket as of January 2022. Source, Cornmarket January 2022**Average saving based on 2,061 customers who reviewed & switched their cover between October 2020 & October 2021. Source, Cornmarket November 2021.