# healthinsurance / save on premium hike for 2010



## thomas (2 Dec 2009)

rumor has it that if you cancel your policy with VHI / Quinn now and renew it before 1/1/2010 you will lock in on the 2009 rate instead of the new 2010 rate, (a 15-20% hike is very likely)----anybody done this? or will you be be penalised? don't want to ask the insurers since I don't expect a strait answer


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## Jimbobp (3 Dec 2009)

Your correct, theres no porblem doing that, other than the slight hassle factor. Also I believe that Hibernian Health (who have already had an increase this year) will give a €50 smyths voucher if you change before Christmas, so shop around.


www.powerinsurances.ie


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## STEINER (3 Dec 2009)

got my Quinn renewal, increased from 715 to 854 from 1st Jan 2010 essential plus no excess, just for myself.  a 20% increase.

They explain the increase as being due to the Gov health insurance levy.

Every year it is increased, its just a mad increase when inflation is so low.

I have never ever had a claim. I will have to shop around, I cannot justify forking out this type of money, if this carries on it will be a grand next year.  It is crazy.


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## DirectDevil (3 Dec 2009)

I have HEALTH MANAGER with Quinn. 

Last year's premium was €984. For 2010 they want €1,250. This is a 27% increase which they blame on the government !! 

Called in to a Hibernian office yesterday afternoon for a quote. They send you a point by point comparision of your Quinn cover and what they suggest as their nearest matching product.

Got the written quote in the post this morning ! 

Because I don't belong to a group scheme it will work out at around €1,000 which looks pretty competitive so far. Trying VHI next....

P.S. Hibernian indicated that my equivalent product with them would be LEVEL 2 EVERYDAY.


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## Clohass (3 Dec 2009)

Has anyone managed to do this? cancel and renew before the end of the year. I rang Quinn to enquire and the CS rep I spoke to said it wasn't allowed. I subsequently e-mailed them and havent received a reply.


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## colm5 (4 Dec 2009)

I have VHI which went up 27% this year. They blame the health levy (which apparently was added to all private insurance to be given to VHI due to their older population). VHI also lost 45million on 'investments' this year, which I assumes means blew it on the stock market. There total loss was 64million approx.
the second issue they blame is 'medical inflation' which is horsesh*t. This company has no problem giving away other peoples money, and not battling the cost of claims and costs.


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## Johnweber (4 Dec 2009)

medical inflation is a huge issue in this country. A private room in a public hospital costs a massive €910 per night. Wouldn't be too long before one got value for their health premium.

What plan are you on with VHI and we could come up with a competitive alternative?

Perhaps you have too high a level of cover ?

There are plans available which give the best of both worlds for under €800 per adult


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## pudds (4 Dec 2009)

My Quinn essential has jumped from €420 to 4 520 a  25% increase blamed on the government health levy, can anyone confirm what is the actual rate levied by the government?  incase were being ripped off.


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## Johnweber (4 Dec 2009)

The levy is €128 for an adult and €42.40 for a student or child. Could be worse as VHI are trying to get it increased again............


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## pudds (4 Dec 2009)

Johnweber said:


> The levy is €128 for an adult and €42.40 for a student or child. Could be worse as VHI are trying to get it increased again............




Last year premium, €420 + €128 levy = €548 but premium this year is €520
sums don't add up!


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## huskerdu (5 Dec 2009)

I am not justifying all the increase, or apologise for the insurance companies but medical inflation is very high at the moment. 

As has already been stated, the cost that the public health system in Ireland charges for a private bed has jumped a lot. 
8 years ago, a private bed was charged at 300, now it is 910. This is still less than the actual cost of the bed, and less than a bed in a private hospital.


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## Johnweber (5 Dec 2009)

pudds said:


> Last year premium, €420 + €128 levy = €548 but premium this year is €520
> sums don't add up!


 
Sorry I wasn't clear in my answer. That is the amount that each of the 3 medical insurers have to pay although on some of their plans, the increase may be less as they might absorb some of the levy on the more profitable plans.


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## pudds (6 Dec 2009)

Johnweber said:


> Sorry I wasn't clear in my answer. That is the amount that each of the 3 medical insurers have to pay although on some of their plans, the increase may be less as they might absorb some of the levy on the more profitable plans.



thanks for the info


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## dessiepoo (6 Dec 2009)

See this link for explanation of premium hikes:
www.finfacts.ie/irishfinancenews/article_1015397.shtml


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