VHI Do I need health insurance

T

tweety07

Registered User
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I have had health insurance for the last 18 years and I'm beginning to wonder is it something I could do without.

It's currently in/around €550 a year.

Thank God I don't have any health problems but I have had a few procedures in the past which were obviously covered. Friends of mine have had the same procedures as a Public Patient and it worked out at €70 where the breakdown from the Health Insurance Company for the same thing would come through to me as having cost ten times that.

I'm unsure whether or not to keep going with Health Insurance, what are your thoughts?
 
I would say that you didn't need it for the last 18 years, but you probably do need it now!

It's terrible value for young healthy non-smokers. But it becomes worth it as you get older.

If you cancel it, when you need it at some later stage, you will pay a higher premium and you will have waiting times for existing illnesses and new illnesses.

Brendan
 
tweety07,

If you don't have a medical card and you drop health insurance, if you are admitted to a public hospital, it will cost 75 a night capped at a max of
75 x 10nights = 750per year. Just something to be aware of, this applies to day case also, and children.

Paying for health insurance, a small amount per month may be easier than forking out a lump sum in one go(750). You could put the money into a kitty for that purpose, if you do decide to drop health insurance. You will have stored up 18 credits so that if you re-join at a later stage you can avoid any loadings. But you would be treated as a new customer and a 5 year waiting time would apply for pre-existing conditions.

Its a personal decision, hope the above information helps with that decision.
Personally, I wouldn't give up health insurance, I think its the best value for money that I spend every week - 20 euro.

Snowyb
 
It's insurance, you may never have to claim on it. Do you question whether you need house insurance even if you've never claimed on it?

If you get cancer or need a serious operation in the future, would you prefer to take your chances with the public service (you may get a great service, you may be waiting months to be seen). It's up to you whether you think it provides value. I currently pay €3,000 a year for my family, which is a lot of money but it provides me with that security...just in case.


Steven
www.bluewaterfp.ie
 
Thanks very much for ye're replies, makes it very easy to make up my mind that I won't be giving it up. Makes alot of sense what ye have all said. Much appreciated.
 
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