# Cancel Health Insurance, save money instead?



## manshay (19 Jan 2013)

I can afford the cover but feel it is a complete waste of money. 

Our family 40yo (female), 37yo(male), children 8yr, 6yrs, 3 yrs.

We moved from UK in 2007, started VHI immediately, currently on ONE plan. 
Had the 3yr old on the public maternity system, though no more babies. (Snip not allowed on health insurance, why?) The 6 yr old had an orthopaedic operation on the public system as she couldn't go privately, excellent care.  
We have claimed some day to day costs on earlier plans, I had a benign mole removed(cost VHI €500 and I was in work for 9.10am!)

For our age(s) we should not need hospital treatment for quite some time. If we put €2,500 a year in a restricted access account we can pay privately if necessary, or go public.

The plan and any similar priced plans do not cover day to day spending, of which we have had very little. They seem to cover only hospital stays.

When we had the 3 yr old on the public system no one could tell us why we should go private, even a friend who is a GP. Low and behold the little bundle of joy appeared on New Years day at 8am so I'm guessing the consultant would not have been there for the delivery anyhow!

Can anyone make a case for keeping the health insurance? We both work in health related jobs, but not for the HSE and as such I feel we are making an educated gamble, and can rejoin the system when it suits us(taking into account the 5 year waiting period for pre existing conditions)

Help!!!!


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## wbbs (19 Jan 2013)

Like all insurance it's only useful when something goes really wrong.  It's all down to your attitude to risk, the public system is great for emergencies of any sort, heart attack no problem, you will be carted off by ambulance and seen immediately.  However it is the non emergency things that you might be waiting for, mother of a friend has heart problem but appointment in public system was for next June for angiogram, don't know when she initially was notified of that but either way it's six months away, she was leading a limited life with pain while waiting for this appointment not to mention when she might then get any procedure needed.  Luckily (?) she got worse over Christmas and was admitted and has since had her stent procedure done.  Now I don't know how much that would have cost if she had been in a position to pay for it but a family member's bypass op cost well over 10k years ago and his recent hip op with complications cost over 40k.  If something goes seriously wrong you would want to have a fortune saved to pay for it, on the other hand nothing may ever go wrong and you will have saved a fortune, it's all down to chance.


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## SPUDZ (19 Jan 2013)

Fully agree with you...save the money and pay your way when and if needed. A complete waste of money as far as Im concerned esp as you are young and healthy. Yes...I know that there will be some who will argue against and the What if's etc....its a gamble...and the insurance are betting that you will get sick...you are betting them that you wont.Nothing wrong with the public system. If you don't want to be on a wait list or can't wait...then you can pay and be seen immediately.Simple.


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## Eithneangela (19 Jan 2013)

How about a halfway house? Take the children off the private healthcare cover, and reduce the cost of your's and your spouse's opting for cover which excludes private beds/private hospital. We (hubby and I) saved half the cost of our cover by doing this - and looking back, it has cost us probably €12,000 in the past 15 years paying for the private stuff, which we neither need nor want.


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## manshay (19 Jan 2013)

Thanks for all the replies. I may have second thoughts on cancelling due to Eithneangela's post, as I hadn't thought of that!


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