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Lapsing health insurance <13 weeks to save money

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  • 18-09-2012 7:51pm
    #1
    noddy69
    Closed Accounts Posts: 107 ✭✭


    Hi,

    Its seems that if a break in cover of less than 13 doesn't mean you have waiting periods when you take up cover again.

    As a way of saving money I am thinking of lapsing my cover for 8 weeks, then taking it up again.

    Aside from the obvious downside of something happening while I have no cover, can anyone see any other possible issue or downside with doing this?


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    #2
    NuMarvel
    Registered Users Posts: 3,279 ✭✭✭NuMarvel


    The only thing I can think of is that all the health insurers have some form of penalty if someone lapses mid-year. So if you're thinking about doing this, it can only realistically be done at renewal time. Otherwise, you're paying some form of penalty.

    There's also the chance that your chosen plan could increase in price in those 8 weeks. So any savings made by lapsing cover could be wiped out/reduced because you have to pay a higher price when you rejoin.

    They're the only two things I can think of, as well as the fact you won't be covered for any treatment received while your cover is lapsed.


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