# Health Insurance - Quinn charge for instalments



## sadie (30 Dec 2008)

Just to be aware, as far as I can gather, neither Hibernian (Vivas) or VHI charge for choosing to pay in instalments for health insurance. QuinnHealth charge *3% interest* if you opt for paying in instalments, so factor this in when making your decision.


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## NovaFlare77 (30 Dec 2008)

This came into play from the start of 2008, at the same time that they removed the group discounts, changed the hospital excesses and had "minimal price increases". 

Their press release of October 2007 - http://www.quinn-healthcare.com/press_and_media/quinn_healthcare_pricing_plans_2008.htm.


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## ClubMan (30 Dec 2008)

sadie said:


> QuinnHealth charge *3% interest* if you opt for paying in instalments


It's not interest - it's a service charge.


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## asdfg (30 Dec 2008)

> _QuinnHealth charge *3% interest* if you opt for paying in instalments_


equivilant to approx 6% apr


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## rmelly (30 Dec 2008)

ClubMan said:


> It's not interest - it's a service charge.


 
maybe you are correct but aren't they now sending a credit agreement form for the policy holder to sign and retain. Sounds like a form of credit with interest to me?


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## ClubMan (31 Dec 2008)

It's described on their website as a service charge - not interest. 

Do other insurers issue credit agreements to those who opt to pay by regular (_DD_) instalments rather than up front in a lump sum? What does the _QL _credit agreement _T&Cs _state?


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## rmelly (31 Dec 2008)

http://www.rte.ie/business/2008/0225/quinn.html

According to this Quinn are the only ones to issuing this, also the 3rd last paragraph suggests to me that Quinn are not being entirely honest on this.

Don't forget that Quinn removed the 10% group discount last year that most (if not all) customers availed of, and boasted that they hadn't increased prices, so I'd take most of what they say with a large pinch of salt.


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## rmelly (31 Dec 2008)

Plus if it really was a 'service charge', should it not be a fixed amount, rather than 3% of the cost? How much extra processing of the multiple direct debits is there depending on whether the cost is €2000 or €500?


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## Brendan Burgess (31 Dec 2008)

I would doubt that Quinn could simply choose to classify something as a Service Charge under the Consumer Credit Act.

Refer it to the Financial Regulator to make sure that they are complying with the disclosure requirements. 

Brendan


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## NovaFlare77 (31 Dec 2008)

On Quinn's renewal documentation it's called a Credit Charge. The line on the membership certificate reads:

"A Credit Charge of 3% applies. This Credit Charge is equivalent to 6.7% APR."


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## europhile (10 Jan 2009)

I've only just found out about the group discount being abolished.  I was told that it was "due to government recommendations".


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## scuby (11 Jan 2009)

europhile said:


> I've only just found out about the group discount being abolished.  I was told that it was "due to government recommendations".



Doubtfull...more like Quinn recommendations.


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## badgambler (1 Feb 2009)

europhile said:


> I've only just found out about the group discount being abolished. I was told that it was "due to government recommendations".


 

Brilliant!


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