Health Insurance Renewal

MacDanger

Hi

I've just received my health insurance renewal from VHI and it's gone from 926.02 last year to 1,023.98 this year (since I first took it out in 2018, it's gone up 23%).

Is it worth my while ringing them looking for an explanation and/or shopping around with another provider? Obviously everyone does this with car insurance but you rarely hear it with health insurance.

TIA

coylemj

The simple explanation is that medical inflation is always ahead of general (retail price index) inflation. Being public service employees and having significant industrial relations muscle, nurses and doctors in the HSE typically get pay increases which are ahead of inflation. And private hospitals have to keep in step or they won't be able to recruit staff. New medical technology (scanners etc.) and new drugs also contribute to price inflation in the healthcare sector.

If you're not going to change plan, there's no point in phoning VHI. The first thing I would do is check the VHI website to see if you're on a plan that's providing more than you need e.g. are you on a plan that covers GP and/or dental care when a lower plan without those benefits would save you money? For any plan, consider increasing the excess you'd be prepared to pay per inpatient claim, that will reduce the premium. And check the plans on offer from other providers at https://www.hia.ie/

worlds goodest teecher

Mine has gone up as well. If premium prices are based on claims and last year most services were not operating, how can an increase be justified? Bulls%^t as far as I am concerned.

SouthWesterly

I was with irish life. I checked the hia.ie website. Phoned a few providers to clarify some points and changed my family to vhi. I saved 800e for a comparable policy

worlds goodest teecher

https://www.boards.ie/discussion/comment/117710265#Comment_117710265

I visit private consultants 5 or 6 times a year, scan at least one evening, day procedure 3 or 4 times a year. I have a discretionary medical card. I don't need gp or dentist. Lower excess would be good. Would change but I am afraid of some necessary cover not being included. The hia website doesn't really compare like for like.

dublin49

I heard one of these consumer experts and he reckons you need to change your policy regularly as they increase the existing policies and introduce new comparable ones each year to be competitive to new entrants.the theory being most people dont check the value they are getting ,The most interesting thing he said was you should ring your provider and ask them if there is a comparable plan for a cheaper price.He reckoned they are obliged to tell you,

L1011

https://www.boards.ie/discussion/comment/117769330#Comment_117769330

This happens, but the corporate plans generally don't change in that way. I've been on a barely advertised Laya one (CompanyHealth) for a long time now and while it creeps up in price it's still the most competitively priced for what it offers (which feels like very little for its cost, but that's all plans....). Main thing is it has appalling maternity cover for its grade of plan which seems to offset the cost a bit. I'm male, but you pay for maternity cover whether you can use it or not!

worlds goodest teecher

What is bugging me that claims on private health insurance over the past 18 months must be as low as its ever been yet inflation is driving it up. Then you have the motor insurance companies claiming the reason that they increase prices is because of claims.