# To renew or not to renew..



## igloo (1 Dec 2011)

Today I came home to a renewal notice from my health insurer.  Thankfully we are a healthy young family - 2 adults and 3 kids under age 7.  The premium for next year runs to more than €3300..

So leads me to think, is it really worth it?  For starters I should admit, I worked in Insurance (and yes, the company does health cover), and know for a fact that the kids present a low risk and therefore a relatively low premium.  However, insurers profit-ratio on kids policy are their most lucrative by far.  Also, if your child really does get ill they will receive priority care in public service, and as we know - there are no kids private hospitals in Ireland..

Anyway, with budget 2012 just around the corner, and with other policies and car tax renewals due for me in January, I think my risk appetite has increased and I will put my limited cash to other use.

So, I'm going to take the advice of my Minister for Tourism, Mr Leo Veruka, and put my limited funds in 2012 toward a nice family break.  Lets face it €3300 would go a long way..

By the way, found this article on the topic.  
[broken link removed]
Its a few months old but gives good context and has helped me in my decision..

Thoughts from illuminated minds?


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## snowyb (1 Dec 2011)

*To renew or not to renew*

Before you make that decision, I was wondering if you are aware of the 'in patient charges in public hospitals' which apply since Jan 2009. There is a daily charge of 75euro upto a maximum of 10 days in a year. (750 pa.) for stays in a public hospital if you don't have a medical card. Note this charge applies to both adults and children(over 6 weeks old). While operation costs are free, this daily charge applies. The Irish Times article doesn't refer to these costs at all. It was enough for me to justify paying for private health insurance! There are full details of these hospital charges on 'citizensinformation.ie'. Click on health,then hospital services, then hospital charges. Sorry I can't post a link yet.
There are many options to reduce your annual premium on hia.ie website. Hope this enlightens your decision.


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## pj111 (1 Dec 2011)

I don't think the parents of this baby would agree - in fairness to VHI and the HSE.

http://m.irishtimes.com/newspaper/frontpage/2011/1129/1224308281756.html?via=news

There are other options: 2 adults and 3 kids for decent enough cover can be €2,015 with Aviva, €2,077 with VHI and €2,109 with Quinn.


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## igloo (1 Dec 2011)

Quote I got is from Aviva level 2, and incorporates discounts for having other policies with them..


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## igloo (1 Dec 2011)

Thanks snowyb, good point.
Although at end of day it comes down to personal risk threshold


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## pj111 (2 Dec 2011)

_It_ sounds as if you have cover for medical expenses on your plan. Work out how much usage and how much you will get back. The children are probably costing 310 each where you can get children's cover for 169 each. Put an excess on the adults plan and take off the day to day cover and it can bring your premium down by another 800 euro

_Patrick_


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## Tiberius (16 Dec 2011)

*health insurance costs too much to bear.*

Similar quandary here.  VHI for me, the OH and the 4 kids costs 210 per month.  Whats more VHI inconveniently debit the funds the day before pay day and when I queried this before to change it they said they couldn't do anything about it.  While the latter is an administration issue its still irks me and has a bearing on monthly cashflow.  Much better for these things to go out nearer to pay day.  As it is it is on their terms not the customers.

In more than 20 years of being a VHI customer I've put in one minor claim for a sports injury.  Thats all.  In terms of risk / reward I'd happily do without and use the money for other things.  My OH is loath to give up our cover fearing delays / increased cost if we ever went back on cover.  I'd face that problem if and when it comes up.  For the moment the monthly payment is simply too much and liable to go up further.

Anyone else in the same boat of liable to give it up?


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## Adam2011 (16 Dec 2011)

If you need the insurance you should have it,my family has a tough year approx 5K spent, we thankfully have a company paid scheme and Quinn Healthcare have been very good to us especially in terms of outpatient benefit where our scheme pays 75% back on GP and Consultants fees. Medical Insurance is getting very expensive and it looks like it will be a perserve of those who who have a company paid scheme or those with a lot of money. Participatation could fall to UK levels if these levels of increases occur.


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## pj111 (16 Dec 2011)

Tiberius said:


> Similar quandary here. VHI for me, the OH and the 4 kids costs 210 per month. Whats more VHI inconveniently debit the funds the day before pay day and when I queried this before to change it they said they couldn't do anything about it. While the latter is an administration issue its still irks me and has a bearing on monthly cashflow. Much better for these things to go out nearer to pay day. As it is it is on their terms not the customers.
> 
> In more than 20 years of being a VHI customer I've put in one minor claim for a sports injury. Thats all. In terms of risk / reward I'd happily do without and use the money for other things. My OH is loath to give up our cover fearing delays / increased cost if we ever went back on cover. I'd face that problem if and when it comes up. For the moment the monthly payment is simply too much and liable to go up further.
> 
> Anyone else in the same boat of liable to give it up?


 
You could get the 2 adults and 4 children cover with Aviva on Business Plan Choice for the adults and Level 2 Family Health for the children and debits out on a day of your choice *PLUS* €275K of life cover over a 20 year term for a 41 year old male non smoker with Zurich Life for the same price that you are paying now.

_Patrick_


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## Tiberius (17 Dec 2011)

Thanks.  Feeling the financial pinch each month so I'm more inclined to giving up on the health insurance regardless.  In a year plus I can reassess but at the moment I can't justify it.


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## pj111 (17 Dec 2011)

You could review the situation within 13 weeks of cancelling and get cover up and running again without having to reserve waiting periods with Quinn or Aviva. Little bit more tricky with VHI as they will backdate cover or potentially make you reserve waiting periods

_Patrick_


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## igloo (20 Dec 2011)

*HSF anyone?*

Anyone had experience or heard of this service?
[broken link removed]


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## Bonafide (20 Dec 2011)

Patrick,

Could you please advise what is the best value plan out there (by increasing excesses or whatever) for a family with 2 adults & 3 children under 11?

Thanks.


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## Watcher (21 Dec 2011)

15% increase announcement from Aviva today..
Need to re do the sums again


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## pj111 (29 Dec 2011)

Bonafide said:


> Patrick,
> 
> Could you please advise what is the best value plan out there (by increasing excesses or whatever) for a family with 2 adults & 3 children under 11?
> 
> Thanks.


 

There are a number of plans and it would require a few more questions to narrow it down depending on your needs, flexibilty, ability to change plan, special discounts, start dates etc

Cheapest VHI plan for the children would be One Plan Plus, One Plan Starter and PMI 06 11. For adults One Plan , PMI 17 11 are in the 800s as are a couple of plans. 

For Quinn Company Health, Essential Plus with excess and Essential Starter are under €200 for the children, with reduction for 3rd child, but some will go up shortly. SImply Health Starter and Compaay Care Choice under €800 plus 3% direct debit charge again with ome going up on Saturday, 

For Aviva, Level 2 Family Health for the children would be under €170 each, Busines Plan Select Plus €811 for the adults and Business Plan Hospital €754. Prices for Aviva will not increase until 15th February for the former and 1st January for midlle and March for the latter.

Timing is of the essence though.

_Patrick_

_I only saw your other post on older thread now. Some of the questions to narrow down the search are posed in the other thread._


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## AlbacoreA (30 Dec 2011)

Timing?


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## pj111 (1 Jan 2012)

When you put cover in place, how you put cover in place etc. Tricks of the trade that are not on any website.

_Patrick_


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