Are you getting the most from your health insurance?
Health insurers now have suites of plans allowing you to claim for everyday medical expenses like visiting GPs, physiotherapists, specialist consultants and even alternative practitioners like chiropractors or acupuncturists.
However if you’re insured on traditional plans (like VHI’s Health Plus Range, Irish Life’s Level 2 Hospital range or Laya’s Essential Plus range) you’re probably overpaying, without the ability to claim on day-to-day benefits.
Providers also offer corporate plans, which are usually aimed at businesses, but are actually available to everyone. These often offer greater value for money, by letting you save on your premium, by taking on a small excess (€75 - €250) on overnight admissions to private hospitals and letting you claim for everyday expenses. You could enjoy big savings by moving across to these plans, which are available from all providers.
Claimable expenses on Semi-Private in Private, limited Day to Day
Take the example of John, a single teacher aged 30 currently insured on VHI’s Teachers Plan Select. The table above shows his yearly expenses, and what is claimable on his current plan – against alternative non corporate plans available across the 3 providers, see table above.
John’s numerous visits to everyday practitioners mean it’s more cost-effective for him to include these on his plan. All the above plans carry an excess on private hospital admissions. If John switches away from the Teachers Plan Select he won't have a waiting period to claim back on these benefits, because he’s aged under 55. After submitting his receipts to his insurer John can also claim 20% back on the remainder of most of the above expenses from Revenue. By moving to one of the below plans John will be able to maximise the amount claimable on his health insurance.
Opting for a Plan with strong day to day cover - similar expenses
Or consider the example of Mary – a 48 year old teacher with a 50 year old husband Peter. They’re insured on the Teachers Plan with VHI. They’ve visited a consultant and a GP a few times in the year. They want to maximise what they can claim back for this, while maintaining a strong level of hospital cover. They don't want an excess of over €100 on private hospital admissions. Irish Life’s Be Fit 3 is one of the strongest plans on the market – allowing Mary and Peter to maximise what they can claim back on everyday medical expenses:
Opting for a Plan with Advanced Day to Day cover-
So while everyone’s situation is unique, John and Mary’s examples show it pays to shop around when it’s time to renew – especially with new plans and prices released all the time.
To find the best cover for your needs, call our friendly experts on 01 470 8093.
Plan Information sourced from Health Insurance Authority (www.hia.ie), all plan information correct from 01/08/2018. Vhi Healthcare DAC trading as Vhi Healthcare is regulated by the Central Bank of Ireland. Laya Healthcare Limited, trading as Laya Healthcare and Laya Life, is regulated by the Central Bank of Ireland. Irish Life Health dac is regulated by the Central Bank of Ireland. A private company limited by shares. Cornmarket cannot be held responsible for information contained on third party websites.