Health Insurance Laya renewal

Hi All
My Laya policy is due for renewal on the 1st May. Prices are going up on the 1st April. Can I ring up and cancel my policy tomorrow and take out a new policy before they go up or will Laya refuse. Any advice on wording would be appreciated. I also paid for the full year when I paid last year so it maybe a moot point and I’ll just have to see it through. Are Laya anyway flexible. Thanks for the help and advice.
Thanks
Michael

I'm sure Laya won't refuse but they might point out that you have an annual contract which you've paid for, so you'd lose just over one twelfth of your policy cost by renewing your contract early. It would have to be at latest on 31 March to beat the price increase.

Do your sums but, as you suspect, it's probably not a runner. Maybe a different policy might fit the bill for you?

There are some previous AAM threads here about renewing your policy early which might give some advice.

There is another more recent one here.

Just got my renewal notice in from Laya and WOW!!
Last year our policy "control 300 create" was €1444.92 this year €1744.43 that's a smidge under a 21% increase
I knew and know this is an ever increasing cost but was expecting (naively) around a 10% per year
Time to start trawling though all the different polices again, oh what joy!!

With laya myself currently on a mixture of the following plans

Aspire (younger kids adults) and Simply Connect plans (for my parents over 60).

The plans are the same just operations for older people are cover to only 80% on aspire plans.

If you want more day to day cover currently up 500 euro back per member upgrade to plan to plus versions for up to 1000 euro back.

From listening to his interviews over the years, Dermot Goode used to always say budget for a 5-10% increase every year, but even he admitted that advice may no longer be valid.

The problem is price gouging by private hospitals and the health insurance companies are doing nothing about it.

This is an example: I had an appointment in the Beacon a couple of months ago. During this appointment I had a small procedure which took about 5 minutes . When I received the statement the hospital had charged €557 “Hospital fee” total bill €721.

I was not admitted to the hospital I just saw the consultant in his rooms, yet the hospital charged this fee. I contacted the insurance company & there reply was that was the arrangement they had with the hospital.

Also if I had no insurance & paid direct the procedure would have only cost €495.
That my friends is why our insurance is increasing every year.

Cervelo said:

Just got my renewal notice in from Laya and WOW!!
Last year our policy "control 300 create" was €1444.92 this year €1744.43 that's a smidge under a 21% increase
I knew and know this is an ever increasing cost but was expecting (naively) around a 10% per year
Time to start trawling though all the different polices again, oh what joy!!

Click to expand...

So Tomorrow I have to renew our policy's and Mrs C has decided that we will stay with Laya but switch policies
As above we are on Control 300 Create with the premium at €1744.43
This year we will move to Inspire Plus with a premium of €1546.13
Which is €101.21 more then what I paid for last years policy but is €198.30 cheaper then renewing the same policy

From what we can see there is very little between the two policies with regards to the main stuff except for now we have "Maternity Benefits"
But there is a good change or at least I think it is and that's with the "Everyday Medical Expenses"
Now that we're edging ever closer to our sixties we have cause to visit medical practitioners on a more regular basis
So It's nice to see that this has gone from a set amount per visit/cost to 50% of visit or cost but with the caveat of a maximum refund of €1k
This for me will result in a huge increase in what I can claim for my optical and dental needs

The other difference is Specified Orthopaedic & Ophthalmic Procedures:
There is a 20% shortfall with Inspire Plus & these are fully covered with Control 300 Create.
This would be Hip & Knee replacement & eye cataract surgery

I'm on Flex 500 Explore. It's up for renewal in July. The premium is going from €76.35 p/m to €99.35. That's a 30% increase. Staggering.

The only plus is that Private Hospital excess is reducing from €150 to €50. But, they've removed "full cover overseas" to "no cover overseas".

Can I do better? (I find this whole business a minefield. But, who doesn't, I guess.)

Thanks.

D.

Chelseablue said:

The other difference is Specified Orthopaedic & Ophthalmic Procedures:
There is a 20% shortfall with Inspire Plus & these are fully covered with Control 300 Create.
This would be Hip & Knee replacement & eye cataract surgery

Click to expand...

You are of course correct and I should have added in my first line of the second paragraph "and our needs"
Unlike car or house insurance, health insurance is something that you will claim against so you need to pick a policy that best fits your needs
For us thankfully our hips, knees, shoulders and eyes are all working as should and therefor not a major concern for us if there is a policy shortfall of 20% but as we aren't getting any younger this is something we will and do keep under constant review like all aspects of our health