Do you know what your Health Insurance covers you for?

 In Health Insurance

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Health Insurance can be confusing at the best of times and many of us don’t know what we are covered for until we are in a situation where we need it. The HIA (The Health Insurance Authority) website compares all plans from all the Insurance providers, but this amount of information may add to the confusion. The HIA website can be found here

It is a good idea to have your health insurance reviewed by a broker or adviser who can find the plan the best suits your needs rather than go it alone. Not all plans are the same. Some give more hospital cover and less day to day cover, while others give excellent day to cover but may not give a high level of hospital cover. A broker such as ourselves can explain the ins and outs of plans in more detail.

2When looking for a plan the main questions to ask yourself are:

  1. Do I want accommodation in a private hospital or private in a public hospital?
  2. What hospitals do I want access to?
  3. How much of an excess do I want to pay?
  4. Do I need access to Hi-Tech Hospitals?
  5. Do I want to get money back on visits to GP, Physiotherapists etc.?
  6. Do I want dental cover?
  7. What Maternity benefits do I need?
  8. What level of cover do my children need?

One important point to note is that if you are currently under a consultant or your child is under a consultant, it is vital to check with your insurer if your consultant is covered on your plan. Some consultants may only be able to refer patients within the public hospital system.

4Other things to consider are waiting periods and the introduction of Lifetime Community Rating. No rating periods will apply if you are switching provider as long as you are not currently serving a waiting period. This is a key aspect which prevents people from wanting to shop around for the best plan. The Lifetime Community Rating was introduced on the 1st of May 2015 and anyone taking our insurance for the first time from the age of 35 are subject to a loading depending on their age. More can be found here.

Waiting periods also apply (up to 5 years) when taking our insurance for the first time or for increasing your level of cover to a new plan which covers an existing condition not covered by your current plan. It is worth checking with your provider if you are thinking of increasing cover or changing the plan you are on. You can find some helpful explanations of terms used by insurers here.

If you are thinking of taking out health insurance or if your current plan is due for renewal, please contact us on 061 317260 and we can help you find the plan to best suit your requirements.

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