Advice needed on first time health insurance for 54 year old.

Hi, I am totally clueless about health insurance, I am 54 and want to take it out, never had it before due to cost, should I get a basic plan and also an hcf plan? What will be the most cost effective. I am pretty healthy (so far). I would be grateful for any help.

Hi,

As health insurance is so important as we get older and the public system is swamped it would be best if you were to familiarise yourself with the policies available and how to get value for money. None of us know from day to day when we might need to avail of it and if the long waiting lists are going to affect us.

Cornmarket might be able to give you directions on a plan.

Not quite sure what a 'hcf' plan is?

The sooner the better you take out the insurance because you will have a levy to pay because of your age:(although there does appear to be a max of 10 years levy applying as per below)

4. Lifetime community rating

Lifetime community rating means that the amount you pay for health insurance does not depend on the age you are now but can be higher depending on the age you were when you first took out health insurance. This applies only to people from age 35 and above.

For example, a 50-year-old who has held insurance since they were aged 30 would pay the same as a 30-year-old, but a 50-year-old who purchases insurance for the first time would pay more than a 30-year-old.

Charges if you start health insurance at 35 years or older
Higher charges apply if you are 35 years of age or older when you first take out health insurance. If you are aged 35 or above but you already have health insurance, the cost of your health insurance will not change based on your age.

There is a 2% increase in price (known as a loading) for each year over 34 years of age. For example:

• If you are 35, the cost is 2% higher than for a person aged 34
• If you are 44, the cost is 20% higher (2% x 10 years).

The longest you will have to pay a loading for is 10 years.



You could also have a read of the following:

Citizens' Information page on health insurance

Health Insurance Authority