Key Post How to cut 10% off your Health premium with a phone call:- Equivalent Corporate Plans

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Marconi2012

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We are with Quinn's. I heard that health insurance providers operate corporate/ company policies with reduced premiums for same cover etc. Has anyone got 1 of these policies?
 
Article in todays irish times - [broken link removed]

This says that you can check the hia.ie for details of all plans including corporate ones.
 
Quinn have details of their corporate plans on their website here - http://www.quinn-healthcare.com/for_employers.htm.

And like Greenfield's Irish Times article states, you can just ring your insurer and ask them what the corporate equivalent to your current plan is. The HIA's website is also very useful at giving you other alternatives.
 
I recently renewed (1st August) with Quinn, and now I wish I had asked about this corporate rate.

Am I too late, do I have to wait til my next renewal?

Could I switch out of Quinn before renewal, or threaten to?
 
Quinn will let you cancel your membership at any time, so I don't think they'll stop you changing your plan mid year. Usually the change can be done over the phone.
 
There's a hole section on AAM with postings from the previous poster, I thankfully read it and changed both our own and my parents to company care and we both got a refund earlier in the year.
 
Great stuff, thanks. I already get 10% group discount as a member of a credit union, maybe that is the same as corporate? So maybe no further discount for me?
 
berlininvest said:
Great stuff, thanks. I already get 10% group discount as a member of a credit union, maybe that is the same as corporate? So maybe no further discount for me?
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Quinn did away with the group discount about 2 years ago, so this doesn't apply anymore. However, if you were still receiving it, then that would be the maximum discount any health insurer could apply.

The prices that Quinn's and HIA's websites quote are the prices you and everyone else will pay. As already mentioned earlier, the prices of corporate plans (even without discounts), are very competitive compared to the "standard" version.
 
Just rang them and they gave me a reduced quote based on corporate without batting an eyelid.

Turns out I hadn't paid my renewal yet, they were about to send me a reminder, so I didn't have the conversation about switching mid-term etc.

Anyway, will be writing a cheque for 130 euro less, which is a 20% saving. Must do the same now for the wife and kids with another insurer.

So, despite what anyone may tell you, the best thing to do is ring them and ask for the corporate rate. Let us know how you get on, especially if you are in the middle of your term.
 
Health Insurance: What precisely is meant by Corporate Rates? and is cover different?

Health Insurance: What precisely is meant by Corporate Rates? and is cover different?

I heard some guy (Charlie Weston, I think) on the radio during the week suggesting that people should ask for Corporate cover and avail of a hefty discount.

What is this "Corporate Rate" he speaks of? Does it differ from the old group schemes operated by the VHI over the years. (Pay roll deduction and about 10% off) or its it something else entirely?

Are the benefits T's and C's etc different with the corporate rate?
 
Not 100% sure about corporate rates but it may mean the tailored packages that they sell within companies. Company Plans would be an example of this. AFAIK the rates are slightly different but give approx. the 10% discount.

In our company they called in each year near to renewal date and did the hard sell. They issued literature tailored/unique to the company i.e. the company name on details of plan.
 
Thanks SueEllen,

Ive been doing some googling:
I gather that these are equivalent packages offered to corporates. The companies policy preclude them from marketing them to individual consumers but the regulator insists that the HI companys offer them to any one that asks.

[broken link removed]

Save on health insurance

Conor Pope
HOW WOULD YOU like to knock as much as €800 off the cost of your family’s health insurance policy with a single phone call this morning?

It can be done so easily and without much reduction in the level of cover offered that it is a wonder fewer people are not taking advantage.

Let’s say you want to take out a family policy covering two adults and two children with Quinn Healthcare. Last week we were quoted a price of €3,220 a year for its HealthManager policy via the company’s website. We rang Quinn and a customer service rep confirmed that price. We asked what the equivalent corporate plan was? There was a slight pause and we were told Quinn’s CompanyCare Premium offered “exactly the same level of cover” at a cost of €2,440, or €780 less.

We were told that while the CompanyCare Premium plan was aimed, obviously enough, at businesses it was open to everyone. She went on to say that Quinn Healthcare staff were not allowed to promote the plan to individuals inquiring about personal or family policies, but once a caller asked about a corporate deal, they would be given the choice of signing up to such a plan at the discounted rate.

We called the VHI and were told the cost of Plan B for two adults and two children was €2,252 while the corporate equivalent was €1,968, a saving of €284. Aviva’s Level 2 Hospital cover was €1,750 covering two adults and two children — although that is a special reduced rate the company is offering at present and the full price is €2,030. If we had the two children on the Level 2 plan and switched their parents to the Business Plan Select then the cost of the annual premium would fall to €1,592.60, a saving of over €437 per year.

It is remarkable that such savings on health insurance can be made so simply, and remarkable that so few people know about them. This is not for the want of trying on the part of the Health Insurance Authority (HIA), the independent regulator of the private health insurance market in Ireland.
Click to expand...
and from the HIA Newsletter Feb 10:

In addition there has been a trend to
switch to lower cost plans in 2009. 14%
of consumers are now members of a plan
branded as a corporate plan. These plans
often offer similar benefits to individual
plans at a lower price. Everyone is entitled
to purchase one of these plans.
Click to expand...
aj
 
Hi AJ,

Interesting but strange.

Off-topic but another thing that I find very annoying with VHI is the student rate. AFAIK (this applied to my daughter's case earlier this year) if you get your renewal notice quoting the full rate for anyone just gone 18 and ask for the student rate they will apply same but only on request and provided the person meets the VHI criteria. They don't offer it or advertise it. It applies between the ages of 18 and 21. Hers reduced from €800 to €264.

A friend was not aware of the discount and phoned looking for it to be backdated but they refused to do so.

P.S. See there was a mention of it as far back as 2004 on AAM.
 
I switched my Quinn policy from Essential Plus to Company Care Choice today.
A saving of €118 per year and I have maintained the same hospital cover while greatly improving my out patient expenses.
 
Kano said:
I switched my Quinn policy from Essential Plus to Company Care Choice today.
A saving of €118 per year and I have maintained the same hospital cover while greatly improving my out patient expenses.
Click to expand...

Hi Kano

Did you switch in the middle of your policy or was it at renewal?

I renewed mine with Quinn in August, not realising I could have availed of the corporate rate. I am wondering if I could switch now and get a refund.
 
Hi Callybags,
I am with VHI and switched policies mid year.Not sure how it would work if you pay full premium at start of policy year but I pay via DD so the following DDs were adjusted accordingly.
 
callybags said:
Hi Kano

Did you switch in the middle of your policy or was it at renewal?

I renewed mine with Quinn in August, not realising I could have availed of the corporate rate. I am wondering if I could switch now and get a refund.
Click to expand...
My policy renewed on September 1st so I was in policy .It switches immediately ,so you can switch immediately too.
 
I recently used this guy to get a better quote for private health insurance. He saved me money and explained what I think is the complicated area of health insurance. I would recommend him highly if you are thinking of changing plans or taking out insurance. He gets his commission from the insurance complanies. I have no connection with him other than as a satisfied customer. Slim

[broken link removed]
 
callybags said:
Hi Kano

Did you switch in the middle of your policy or was it at renewal?

I renewed mine with Quinn in August, not realising I could have availed of the corporate rate. I am wondering if I could switch now and get a refund.
Click to expand...

Quinn will let you switch mid year. At this stage, they probably won't back date the change, but if you've paid upfront you will get a pro rata refund, if there's one due. If you pay by instalment, your direct debits will adjust themselves.

For everyone's info - this topic is also covered here - How to cut 10% off your Health premium with a phone call:- Corporate Plans

The short version of all this is that all insurers have a range of company schemes that are similar or virtually identical to the regular products, but at a lower price. For example, Quinn's Essential plan is €525 for an adult, whereas it's corporate equivalent, CompanyHealth, is €454.

Under open enrolment, an insurer CANNOT refuse to let you join a corporate plan*, but they're not obliged to shout from the rooftops about them either. I'd recommend everyone asks their insurer what would be the corporate/company/busioness plan equivalent of their particular plan.

Also use the Health Insurance Authority's plan comparison tool on their website. Insurers are obliged to submit all plan details to the HIA and the HIA are excellent at updating their website with this information.

*However, insurers are obliged to make sure that any financial product you buy meets your needs. So they may say something if you're looking for a plan that fully covers all hospitals and you pick the most basic package.
 
I was just on to Quinn and asked to be switched to their Company Health plan.

"No problem" they said, and will be sending me out a cheque for €114.91.

Thanks for the heads up on this thread. :)
 
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