Will Slaintecare eliminate the benefit of health insurance?

Baby boomer

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I have been a VHI customer since I started work nearly four decades ago. Premiums were modest and attracted full tax relief. The public health service was poor. Public hospitals were grim places. VHI was a no-brainer.

Roll on 40 years.
The public health service has improved beyond recognition. The HSE will pay for your treatment abroad in a lot of cases. Public hospitals are much nicer. Public policy is to have a single waiting list for public and private.

Meanwhile the cost of health insurance has escalated beyond recognition. Tax relief is reduced to standard rate. I feel like I'm paying more and more for less and less. I'm actually paying on the double; once for my VHI and once more through my taxes for a public system that's almost as good, and better in some cases. If the private system is going to be no better than the public system, what is the point of paying for it?

So, is this a game changer? I am seriously considering dropping my long held VHI and pocketing nearly 2k nett pa. I could "self-insure" for anything that's not available or has an undue delay. After 10 years that's a fund of 20k - should be plenty.

Or am I mad? Any thoughts?
 
Do no such thing, slaintecare is a potential bottomless money pit, public health system exists primarily to serve those employed by it
 
20k would go nowhere for anything big, my Dad's hip replacement cost over 40k about 15 yrs ago and I doubt it's got cheaper! That would be a classic sort of thing you might want done sooner than on a public list.
 
My father had his hip done a few years ago. He was in a four bed ward in a private hospital. He was the only private patient and had to pay an excess. The other three beds were occupied by public patients being treated under the National Treatment Purchase Fund. They paid nothing! Something wrong there somehow.
 
I think perhaps you should look at what other plans are available, you should be able to get good cover with LAYA for a lot less than €2000 a year. A policy with good refunds on things like GP visits, physio, prescription glasses OR a basic hospital cover.
If you drop out now, there could be waiting period & loading implications down the line should you resume private insurance after a long gap.
 
I am also beginning to wonder about being 'private' I'm paying health insurance, I'm paying the GP 60 a visit, the consultant 100 to 200 depending on who.( mind you I find the consultants I deal with are very fair regarding money) I also have to pay 135 a month for tablets. I feel overwhelmed at times. One of the hospitals I attend is public indeed it's the one I attend most as I've a serious , chronic condition. I often read in the paper people complaining about private patients in the public system - I often feel we are made to sound rich. I assure you I'm not and at times struggle with all it costs. I have often thought about getting rid of it - especially lately and landing back into being a public patient. Many people I know are also beginning to wonder about the value of it.
I too was in a private hospital not so long ago and near me was a full ward of public patients on the NTP fund scheme getting treatment. I've no problem with them getting treatment I'd like to add but I though to myself 'am I the fool' killing myself forking out while others don't have to worry. I
 
I am also beginning to wonder about being 'private' I'm paying health insurance, I'm paying the GP 60 a visit, the consultant 100 to 200 depending on who.( mind you I find the consultants I deal with are very fair regarding money) I also have to pay 135 a month for tablets.

It would be worth your while, if you are continuing with private insurance, to switch to a plan which has significant refunds for everyday expenses e.g. 75% for GP, 50% for consultants e.g.

Make sure to claim back your prescription expenses as a 20% tax credit via MED-1.
 
I think perhaps you should look at what other plans are available, you should be able to get good cover with LAYA for a lot less than €2000 a year. A policy with good refunds on things like GP visits, physio, prescription glasses OR a basic hospital cover.
If you drop out now, there could be waiting period & loading implications down the line should you resume private insurance after a long gap.
My current policy has all that. I'm aware of the implications of dropping out. My point is that the benefits of going private ain't what it once was. The gap was huge, it's a lot narrower now, and likely to get narrower still. I suspect most of the claims paid out by insurers are for stuff that would be equally well covered in the private system anyway. The attempts by public hospitals to get patients with insurance to declare this when they're being admitted under the public system through A&E is a prime example. I just feel like it's dreadfully poor value for money and I don't like being ripped off.
 
Do no such thing, slaintecare is a potential bottomless money pit, public health system exists primarily to serve those employed by it
You're right, it is a bottomless pit! Point is, it exists (or shortly will exist) and will further narrow the gap between public and private care. It will also drive up the cost of private health insurance. In that context, does it make sense to self-insure, purely to cover the ever-narrowing gap?
 
My current policy has all that. I'm aware of the implications of dropping out. My point is that the benefits of going private ain't what it once was. The gap was huge, it's a lot narrower now, and likely to get narrower still. I suspect most of the claims paid out by insurers are for stuff that would be equally well covered in the private system anyway. The attempts by public hospitals to get patients with insurance to declare this when they're being admitted under the public system through A&E is a prime example. I just feel like it's dreadfully poor value for money and I don't like being ripped off.

You might be getting ripped off, especially if you've been on the same VHI policy for a long time.
If you're price conscious with your plan, I don't think you are being ripped off by the insurance company - the rip off is in the amount of tax we are paying into the health service, no one should need private insurance!
 
....but I thought to myself 'am I the fool' killing myself forking out while others don't have to worry. I
That's exactly it! The "am I the fool here" question?
I don't even want the government to provide me with a top-notch healthcare ayatem. Ideologically, I'd prefer the government not to take the healthcare portion of my tax money and I'd be happy to take responsibility for my own healthcare. Sadly that option isn't available. So if the Government is determined to set up a top quality system, is the best option to say, fine, I'll run with that?
 
You might be getting ripped off, especially if you've been on the same VHI policy for a long time.
If you're price conscious with your plan, I don't think you are being ripped off by the insurance company - the rip off is in the amount of tax we are paying into the health service, no one should need private insurance!
Agree totally. I price check every year and have changed policy several times. My beef is not with the insurance companies but the system within which they are required to operate. Basically, private health customers are paying on the double.
 
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