How to Save Money on Your Health Insurance, Without Reducing Your Cover

Do you feel like you need a Masters degree in health insurance to understand all the different plans and benefits on offer?

Many people feel overwhelmed and confused when looking for the right health insurance plan – and it’s not hard to understand why. The market is changing constantly, with new plans being introduced, old ones being retired, and price increasing continuously. With over 320 plans available in Ireland today, finding the best plan to meet your unique needs and preferences is challenging.

So far this year, we’ve already seen each of Ireland’s health insurance providers increase their prices. But there have also been changes to the plans on offer: Laya have introduced shortfalls for certain Orthopaedic and Ophthalmic procedures on some plans; Vhi have retired some very popular plans, while introducing new ones to the market; and Irish Life health also have new plans on offer.

With so many changes in just a few short months, it’s easy to see why people find it so difficult to understand health insurance. We’re supporting people across Ireland to help find the best plan for their unique needs, so get in touch using the form below for expert support and guidance.

To get you started, here are our top tips for ensuring you don’t pay over the odds from your health insurance or miss out on valuable benefits:

 

1. Don’t be afraid to switch providers

Many people feel loyal to their current provider, or are simply more comfortable sticking with the same plan they’ve had for years. But with prices increasing year-on-year, you could be paying for this loyalty with inflated premiums.

We understand that changing providers can be nerve-wracking, and there are many misconceptions that switching could result in lost cover or you’ll have to re-serve waiting periods. This is rarely the case, and shopping around at renewal can offer significant savings – while ensuring your plan is fit for purpose with the right cover and benefits for you.

 

2. Split your cover

Having multiple people on your policy doesn’t mean you all need to be on the same plan. Spouses, children and young adults can all be on different plans under the same policy number, so you can ensure each member is covered on plan that truly meets their needs.

Not only will this secure the right level of cover for you and your loved ones, it can also help keep costs low by ensuring you’re not paying for cover you won’t need.

 

3. Ask about corporate plans

Many people are unaware they can access corporate plans as an individual – it doesn’t need to be through your employer or as part of a group.

Legally, all plans must be made universally available to everyone. Corporate plans are usually released for large corporate plans to offer the best value for money – however, insurance providers are not obliged to tell customers about these plans.

As a result, and because they often have confusing names, these plans can be hard to find and off-putting for individuals. By considering corporate plans as an option at renewal, you can achieve potentially huge savings.

 

Start Saving Today!

We hope these tips help you on your way to reducing the cost of health insurance.

However, we know how confusing and overwhelming it can be to navigate, understand and compare all 320 plans available in the Irish market. There are many variables to consider, and the plan that works for you and your family will depend your specific circumstances.

Feel free to reach out to our friendly health insurance advisers with any questions, and we’ll gladly talk you through the plans on offer and help you find the best one for your unique needs and priorities.

You can reach us at 01 498 0515 and support@hcc.ie, or enter your details below and we'll be in touch!