Health Insurance Advice appreciated on 59 year old purchasing health insurance for first time.

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faolteam

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Any Recommendations for first time Private Medical Insurance,,

This is my first time to do this so i am 59, so just wondering should u go for the basic plan first

Im in Good Health, Give Blood every Quarter, Non Smoker , Non Drinker, No Underlying issues

Thanks in Advance for any advice
 
You're probably already aware but you will be hit with a large loading when taking out health insurance older in life, under community rating.

tbh I'm not sure whether the best strategy should be to go for a basic plan now and then upgrade, and go straight for something like Laya Connect Simplicity. Note I only have familiarity with Laya plans as I'm tied to their plans via my employer.

Do you think you have a pre-existing conditions which may be subject to the below waiting period? edit - I see that you don't.
So the risk with a basic plan is that if you become aware of a condition in a few years you could be hit wiyt upgrade waiting period.

I recommend reading this guide from Laya about serving waiting periods:

If you are still serving your 5 year waiting period for pre-existing conditions*, you may serve the balance with laya healthcare. We will fully recognise the length of time you’ve spent with your previous insurer.

Should you require additional cover or benefits, a 2 year waiting period must be served before you can avail of the higher level of cover for any pre-existing conditions for which the signs or symptoms of the ailment, illness or condition began before you changed your level of cover.

Waiting Periods | Products & Services | Laya Healthcare Ireland

Switching health insurance & worried about the wait? Learn more about waiting periods, existing conditions & other important considerations.
www.layahealthcare.ie www.layahealthcare.ie
 
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yes every 90 days for blood and platelets i think its every 28 days ,
no im self employed i dont have a group scheme
 
Hi Sue i find it so Difficult with all the different choices why cant they make them fewer amount of choice,
 
Hi odyssey , thankfully i dont have any issues yet , i know snowyb use to be here was very helpful im not sure if he is still a member, its really which i should do first i guess the cheap one and work my way up .
 
faolteam said:
i find it so Difficult with all the different choices why cant they make them fewer amount of choice,
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It might be worth having a consultation with Dermot Goode -

Fee-Based Consultation with Dermot Goode & Total Health Cover

If you want expert and impartial advice across all 390 health insurance plans, then you should avail of a fee-based consultation with Dermot Goode. This ensures you get best advice at all times based
www.totalhealthcover.ie

No connection but I’ve heard him a few times on the radio and he seems to really know his stuff.
 
@faolteam

Because you are joining at 59, and coming up to what could be classed for health reasons, as the most important stage of your life, it is best that you do your homework and research, research, research.

If it were me I would ring VHI, Laya, Irish Life and Cornmarket and speak to all of them and get their advice. After you have done that read up on it as much as you can. Then possibly spend the, I think, €125 fee to visit Dermot Goode as mentioned above. I have heard him speak many times on radio and the depth of his knowledge about all the plans is exceptional, but it is his job :)

The Lifetime Community Rating will probably add quite a bit to your premium but will only apply for 10 years according to the HIA.

For all any of us here here know, taking a basic plan now might just prolong the agony, and it might be best for an expert to tell you if you should bite the bullet now and go for something better. I for one, would not like to have my name added now, to one of the many lengthy waiting lists for health procedures. Friends have told me that they were advised that their waiting list was 4 years!
 
faolteam said:
Hi odyssey , thankfully i dont have any issues yet , i know snowyb use to be here was very helpful im not sure if he is still a member, its really which i should do first i guess the cheap one and work my way up .
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I'd be inclined not to start with a basic plan because you're hitting an age where you may start to need scans, procedures etc and I'd rather not wait on cover upgrades, and if in doubt go for the Laya plan I suggested Connect Simplicity (or say Simply Connect Plus). But it does come down to affordability to a large extent.

Given how expensive any plan will be because of your age loading I think Sarenco's suggestion of paying a small fee for a broker consultation with eg Dermot Goode could make sense in the long run. The potential savings would well exceed the fee.
 
joe sod said:
What would the loading be for a 59year old above the normal rate?
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I think it is 2% per year over age of 34... so in this case 50% loading.

Lifetime community rating (LCR)

Lifetime community rating is a system whereby the premium that individuals pay for health insurance rises with the age they enter the private health insurance market, but does not vary in relation to their current age.
www.hia.ie www.hia.ie
 
You could also consider putting the three grand a year that you would have paid in premiums into a segregated medical health fund, and use it when you need it. In ten years time, you'll hopefully still have 30k, and slainte care or Sinn Fein will have solved all the chronic issues with the public system :rolleyes:
 

20. What is the maximum loading that can apply?​

The maximum loading that can apply is 70% of the gross premium in the event of a person aged 69 or older purchasing inpatient private health insurance for the first time. The loading will apply for a maximum period of 10 years.

Lifetime community rating (LCR)

Lifetime community rating is a system whereby the premium that individuals pay for health insurance rises with the age they enter the private health insurance market, but does not vary in relation to their current age.
www.hia.ie www.hia.ie
 
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