Is VHI worth it??

Giggy

Is VHI actually worth the money. I'm in my late 20's single and with no children so I have probably fairly basic coverage. I have the First Plan Level 1 and really just wondering lately what am I getting out of it and what I'm actually covered for??

I'm not really sure if this plan is worth having or if it's worth €45 a month for what it covers me for. It'll probably be gone up when I renew it in a few months. Would I be better off upgrading to a higher plan e.g. First Plan Plus or is health insurance worth having at all??

penexpers

Health insurance is definitely worth it. I can't give you any advise about plans though.

FruitLover

It seems like a bother when you don't use it, but the whole point of insurance is that it'll be invaluable if you ever do need it. What if you get run over by some muppet who doesn't realize you need to drive more carefully in snow? What if you fall and break something and can't work for a couple of months? Dental work? etc etc.

Although it depends on your income level, IMO €1.50 a day isn't that bad a deal for the peace of mind.

yoshytoshy

i wish i had insurance already ,spent 1K this month on various tests etc.

ch750536

My family & I are in good health, we used to have health insurance but rather than that I have invested the same amount of money.

So we have no cover but in the last 5 years what we have saved has accumulated €12000 for emergencies.

Is a gamble, one day we will go back to insurance.

penexpers

ch750536 wrote: »

So we have no cover but in the last 5 years what we have saved has accumulated €12000 for emergencies.

12000 won't go very far in private hospitals.

Thoie

You really just can't tell, and have to do your own risk analysis. I was covered by family insurance all through childhood, then my father insisted I take my own when I started working. I used grumble about it, but was glad when I ended up in hospital in my late 20s, and they covered a hospital bill of 40k+

On the other hand, here, unlike the States, you will still be looked after in case of an emergency, so if you think you'd be happy with the public system if something happened, then you could always stop.

In terms of what plan to go for, just go through all the private health insurance sites, read what each plan offers, and picks the one that suits you best - it's too personal a choice for the internet I think

ozt9vdujny3srf

On a similar note, I have gotten a few bone injuries over the last few years, aswell as a week stay due to illness. I more then get value for money from health insurance.

worded

Friend father was diag with cancer twenty years ago. They had to sell their house to cover med bills. He died years later and the family was bankrupted. Prior to this they had about 100k+ to retire on.

If you are poor or rich, it doesnt matter. If in the middle ..............

loyatemu

penexpers wrote: »

12000 won't go very far in private hospitals.

there is a public health service in this country - it has a bad rep, but this is not America, you will not be hit with 100k+ bills if you get sick. you'll probably have to wait quite a while for non-urgent treatments though.

if you are young and have no ongoing health problems, then it is debatable whether health insurance is worth the money - you might be better off saving the cash as ch750536 has done.

MagicMarker

If you're on your lonesome and you decide to risk it, grand.

But if you have kids and still decide to risk it, then you're an idiot.

I only recently invested in health insurance, never saw the point in it and up until now didn't want to spend the money on it. But at least I have peace of mind knowing that if anything happens to me I won't have the added worry of paying outrageous medical bills.

jester77

Your health is your wealth and €45 p.m. is a small price to pay to insure it. You never know what is around the corner and not having health insurance could be the difference between something small turning into something serious due to delays in treatment. I wouldn't take that gamble.

the_syco

Harley Billions Golfer the Uncivil wrote: »

On a similar note, I have gotten a few bone injuries over the last few years, aswell as a week stay due to illness. I more then get value for money from health insurance.

Agreed. Paying enough, and when I needed it (broke the arm December there), I got what I paid for. Great

To the €12,000 saved: good on ye. Remember to keep it on hand when you go abroad.

dudara

I've had Vivas (now Hibernian) insurance for the past two years at approx E40 pm. Last August I had two operations for a detached retina at a total cost of approx E8,000. This was all covered by the health insurance. Plus I was able to claim some money back against 3 GP visits, 3 physio visits and 2 opthalmist visits.

The whole point of insurance is the future. It's not whether or not you are getting value for money now, but whether or not it will be worth it in the future.

At the start of last year, I wasn't planning on detatching my retina or screwing my knee up (again) but stuff happens. And health insurance helped ease the financial pain of it all.

Don't also forget to claim back your tax relief on medical expenses.

the groutch

Giggy wrote: »

Is VHI actually worth the money. I'm in my late 20's single and with no children so I have probably fairly basic coverage. I have the First Plan Level 1 and really just wondering lately what am I getting out of it and what I'm actually covered for??

I'm not really sure if this plan is worth having or if it's worth €45 a month for what it covers me for. It'll probably be gone up when I renew it in a few months. Would I be better off upgrading to a higher plan e.g. First Plan Plus or is health insurance worth having at all??

I'm in the same boat as you, but have never had health insurance, and wonder if I should bother

penexpers

loyatemu wrote: »

there is a public health service in this country - it has a bad rep, but this is not America, you will not be hit with 100k+ bills if you get sick. you'll probably have to wait quite a while for non-urgent treatments though.

if you are young and have no ongoing health problems, then it is debatable whether health insurance is worth the money - you might be better off saving the cash as ch750536 has done.

You have to wait a while for urgent treatments too, in some cases.

The average overnight rate in private hospitals (even before treatment costs) is about 1000 euro. The level of service in private hospitals is generally better than public hospitals too.

yoshytoshy

It sounds like when you have insurance you don't have to pay anything , is that the case ?

axel rose

Bupa did these full health checks for their (older?)members. My ma was diagnosed with early breast cancer, 10 days later she was out of hospital in full remission. My Uncle was diagnosed with prostate cancer with similiar results. Do I think my family would have had being diagnosed and treated comparitively in the public service? Hell no! Insurance is something you take out in the hope you never need it!
Fully paid up Hibernian/Visas or whatevertheyarenow member

jimmycrackcorm

I didn't bother in my 20's as it's a very low risk. You could be unlucky but you still have the Public health service to fall back on.

Thoie

yoshytoshy wrote: »

It sounds like when you have insurance you don't have to pay anything , is that the case ?

It really depends on your insurer and the plan you pick - some plans have an excess, which is a minimum amount of money you must pay yourself. In general though the excesses are pretty low compared to the cost of a hospital stay.

With the VHI (and presumably other insurers as well), as long as you go to a hospital in their scheme (which is the majority of hospitals in Ireland) you may not even get a bill from the hospital - the bill is sent directly to the VHI.

For outpatient visits (say 10 minutes with a consultant) you generally pay up front and can claim some of it back later.

mickoneill30

dudara wrote: »

I've had Vivas (now Hibernian) insurance for the past two years at approx E40 pm. Last August I had two operations for a detached retina at a total cost of approx E8,000. This was all covered by the health insurance. Plus I was able to claim some money back against 3 GP visits, 3 physio visits and 2 opthalmist visits.

Would you know how much it would have cost if you had no health insurance? Surely the HSE would cover some of those bills if you'd no insurance? Any idea what percentage?
I'm pretty sure you could claim a fair chunk of the money back from the visits from Revenue.

penexpers

mickoneill30 wrote: »

Would you know how much it would have cost if you had no health insurance? Surely the HSE would cover some of those bills if you'd no insurance? Any idea what percentage?
I'm pretty sure you could claim a fair chunk of the money back from the visits from Revenue.

It's not just a question of cost - it's waiting times too. Yes it would be practically free through the HSE but you'd be waiting a long time.

You can claim private fees back through revenue but since thelast budget it's only at a rate of 20% (used to be what your marginal rate was). I am not sure if you can claim overnight fees either

yoshytoshy

The waiting times are why I ended spending close to a grand on x-rays and scans.
Money isn't worth anything if your not around to spend it. I'm going to take insurance up as soon as I get the current crap out of the way.

ztoical

penexpers wrote: »

It's not just a question of cost - it's waiting times too. Yes it would be practically free through the HSE but you'd be waiting a long time.

You can claim private fees back through revenue but since thelast budget it's only at a rate of 20% (used to be what your marginal rate was). I am not sure if you can claim overnight fees either

+ 1 it's not just the waiting time but also the fact that you could get a date that doesn't suit and end back at the bottom of the pile if you can't take that date. With something thats urgent obviously you go straight in but if its a chronic illness you could find yourself waiting ages. Going private means you can pick a time that suits you. Also alot of health insurance plans will cover some of the cost of things like laser eye treatment or allow you to explore some alternative therapy options.

run_Forrest_run

For all those questioning the worth and cost of private healthcare, first add up how much you spend on going out to the pub or holidays etc and then do a comparison.
Personally I feel health insurance is a must for me, irrespective of the state of our public health service. I would rather pay towards health insurance than spend dead money on things like booze, holidays, cars etc.
It's a matter of priority and duty almost, some people rather indulge in the luxuries of holidays to Santa Ponsa etc but then they whinge and moan when the government won't pay for their healthcare or they have to wait too long before being seen by a specialist etc.

Giggy

OP here, thinking about it all again I think it's worth it alright, because you never know what's around the corner. The reason I posted in the first place is because I have to have some dental work done (wisdom teeth extraction) and the VHI told me that the hospital I was referred to, Whitfield in Waterford, I am only 60% covered for but I'd be 100% covered for in the Regional in Waterford. My dentist said that he doesn't know if the Regional even does dental extractions!! Also the VHI told me that if I upgraded to the next plan I'd be fully covered in the Whitfield but not for this condition until 2 years time.

soccerc

IMHO, and from personal experience, having Health Insurance is a no brainer and even better if you can tie in your travel insurance with it.

Our policy has paid out in excess of €300k over the past five years for two severe medical emergencies

rockmongrel

When I first looked at the title I thought it said "Is VH1 worth it" :rolleyes:

dudara

mickoneill30 wrote: »

Would you know how much it would have cost if you had no health insurance? Surely the HSE would cover some of those bills if you'd no insurance? Any idea what percentage?
I'm pretty sure you could claim a fair chunk of the money back from the visits from Revenue.

My surgery would have been covered by the HSE, but waiting time might have been an issue. Additionally, I was able to enjoy a semi-private room, rather than the 8 bed public ward.

You'd need to check the Revenue website to see what exactly is covered by MED expenses, but I don't think that all of the surgical costs would be covered. My health insurance didn't cover some of the diagnostic tests, but I have already made a claim for those from the Revenue.

hedgeh0g

VHI and Multitrip is excellent value. (travel insurance)

cute_cow

I never had health insurance up until September of last year. And I wouldn't be without it now. Honestly, I know people say that they are paying certain amounts per month and wondering about how much they could have saved if they didn't, but some posters say, in the long run it is worth it if you need to attend hospitals etc.

If you do decide to downgrade to a lower plan, and then after some time decide to upgrade, you will have all your waiting periods to wait out before you can claim again.

Being that you are on First Plan Level 1, you do have full cover for a private room and treatment in all public hospitals and also full cover for day care procedures in all public hospitals. You can also claim claim back €30 for every GP visit, Physiotherapy and dental visits up to a max of 25 per year.

I think for the €45 you pay per month, I would stick with it. But then again, if you feel you don't want hospital cover, go wiith the Healthsteps, which is just day to day cover and no hospital cover, but also a little cheaper and generally speaking you can claim for a little extra!