Downside of moving health insurer?

I've been with Laya (Flex 250 Plus) for years, but for the 3rd year in a row my premium has gone up; it's now some 40% more than it was in 2015. I've now found an alternative with another company (VHI Start Plan 250) that gives me the cover in the private hospital I want for some €300 less - and as I only go the doctor about 5 times a year, the €250 surcharge to get €20 per visit back is a bad use of my money.

My question, however, is: what are the risks in my changing health insurer now?

5rtytry56

I switched from VHI to Laya in 2013. The primary reason was when I rang VHI nurse line I was kept a long long time on a ringing tone after selecting the particular options interspersed with music. It was not a Bank Holiday either. Clearly for a work rated company plan, I could be left hanging on. I've also had cause to rung Laya, but the calls have been answered in good time.

coylemj

Deleted User wrote: »

My question, however, is: what are the risks in my changing health insurer now?

If you upgrade your plan to add cover for certain treatments, there is almost always a waiting period for claims for that treatment to prevent carpetbagging.

So if you change policy and/or insurer and the change involves dropping cover for certain treatments or accepting a higher excess for specific treatments, be aware that you won't necessarily be able to go back to the same level of cover without being subject to a waiting period during which you will only be entitled to the cover provided by your previous scheme.

This is not the same as the waiting period for pre-existing conditions, a restriction that does not apply when you move insurer, provided you maintain continuous coverage.

OK. I just moved to VHI from Laya. I have never been with any other health insurer than Laya. I redid my sums and my premium with Laya increased by 44%, or €332, between 2015 and 2018. It was €757 in 2015 and €1089 in 2018. Although the name remained the same, the cover actually declined in this period with the Mater and Blackrock removed from certain treatments. As I said to the Laya woman, if I don't leave your company now, it will only get worse (I cited this Conor Pope article for that: 'The plain and simple truth is if you have had the same health insurance policy for three years or longer you are wasting money. And it doesn’t really matter which company you are with, that basic rule of thumb still applies.')

I have to say that unlike motor insurance and various household bills, I know of nobody who changes from one health insurance company to another. They might change policies within the company, but rarely leave it. My parents are paying an obscene amount of money to VHI - c. €4500 per annum - and have been with VHI for perhaps 50 years. They are just not going to mess with their private health cover.

As so few people seem to change companies, I was just hoping there is no implicit disadvantage in changing as much of the expenses they cover seems to be discretionary - you'll find out if you're covered when it happens (e.g. "certain cardiac" procedures).

soc

I changed from VHI to Lay a few years back and every year I *painfully* revisit my Insurance Policy.

As PP mentioned, be sure to examine closely!
If you are getting any 'upgrades' to benefits on your new plan versus your old plan you WILL have to fulfil waiting periods (day-to-day benefits are excluded from this, you get full use of these benefits straightaway).

Changing plans is easy, and you can easily change company to company, but it's painful having to go through plans with a fine tooth comb, and compare each and see what each plan has 'better' than other plans, as these will incur waiting periods. FYI the ONLY time this is an exception is if you are paying into a Company Health Insurance policy, then waiting periods are waived.

coylemj

If you are thinking of changing your policy or provider, go to www.hia.ie and you can compare the old and new policies by clicking on 'Health Insurance Comparison'. You should be able to spot failings in the new plan or it may reassure you that you are not dropping any essential benefits.

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I can't imagine why anyone would stay on the same plan for years.
Plans change, new ones come out often providing better value and cover.
Every year I spend days looking at hia.ie
I just wish it was easier to compare plans