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Risk Equilization and working abroad for over 35s

  • 17-02-2016 9:45pm
    #1
    Onaragatip
    Registered Users Posts: 31 ✭


    Hi Everyone,
    My wife and I have been living abroad for the last 8 months with the view to staying away for up to 5 years if all goes well. My wife is 37 and I am 41, no children at present, but that may change in the coming months. We both have had private heath insurance with Aviva for the last 5 years, which is set to expire in the coming weeks. We are slightly unsure how we should proceed as we cannot use standard health insurance going forward as we will be outside the country for greater than 6months during a the polcy period. We were hoping that somone might have some insight on how to proceed as we are stuck in limbo at present.

    We are based in Europe, so have an EU Health Card which can cover us for a lot of eventualities but not electives if required. We were looking at the VHI International Health Insurance option, but for both of us to be covered it would cost approx €3500 for this year, quite pricy and we do not qualify for the risk equilisation levy of 2% per person per year. This would equate to a 20% penalty on our policy if we were to come home after 5 years, even though we had international insurance while away!

    Another option would be to continue with our standard heath insurance while away to keep the levy in place. Obviously we wouldn't use the insurance, but have it to offset the cost of the levy when we come home. This would mean that we would have to rely on the public system back home and also the EU Health Card which we could use abroad.

    Would appreciate any feedback you could add.
    Thanks
    Onaragatip


Comments

  • #2
    Jim2007
    Moderators, Business & Finance Moderators Posts: 10,356 Mod ✭✭✭✭Jim2007


    Onaragatip wrote: »
    We are based in Europe, so have an EU Health Card which can cover us for a lot of eventualities but not electives if required.

    Take care that card covers temporary travel not residance status. You may discover that it will be declined if you are resident in the country where you present it.


  • #3
    Yggr of Asgard
    Registered Users, Registered Users 2 Posts: 5,227 ✭✭✭Yggr of Asgard


    You can not use your EHIC card as Jim2007 said, once you are no longer a resident of Ireland your EHIC card is no longer valid.

    Have you looked at the health insurance in the country you are going to stay?

    Depending on that country you might be able to join the local system.

    There are also international health care providers like Allianz / Bupa international you could look at, don't limit yourself to an Irish company.

    Also depending on when you left the country you might quality for an exception of the loading once you return.

    As per HIA: http://www.hia.ie/consumer-information/lifetime-community-rating-explained
    Anybody who lives outside of the State on 1 May 2015 and moves to live in Ireland will have 9 months to purchase inpatient private health insurance avoiding the loading under Lifetime Community Rating.


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