Health Insurance Options for elderly couple

R

Ryan

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My Grandparents in their late 70s have been in the ESB staff policy (Medical Provident Fund) for many years. Their renewal for 2017 is €4628 for them both which they can no longer afford living on just above the state pension rate.

Firstly we need recommendations of potential suitable policies. Access to private hospitals would be important with little or no inpatient excess and cover for cardiac related surgery.

Secondly, the realities of changing when you are over 70. Does this prove to be a headache or is it relatively simple?
 
snowyb said:
Ryan,

What is their renewal date?

Snowyb
Click to expand...
Im not certain about that but I think it follows the calendar year. Its deducted weekly from their pension on a rolling basis.
Bronte its an ESB staff policy so its not on the open market, I've attached a link below. The states the price as €2262 each but it has increased again since the document was published.

[broken link removed]
 
It could be that the ESB policy includes the cost of some cover your grandparents might not need. If this proved to be the case then they might see the policy come down substantially in price. Just a thought?
 
Ryan,

The plan they are on at the moment would be classed as a 'top of the range' plan which ticks all the boxes, but more importantly its at an extremely good price at that level of cover. An equivalent level plan with the other health insurance providers would start at around 3650pa each approx with VHI Plan D.

So, if they were to switch to a cheaper price, they would maybe have to drop certain items of cover, for example, private room in a private hospital.

In order to make choices, a lot would depend on the hospitals that they would be likely to attend based on their location or their previous medical
history and pre-existing health conditions, if any. For example, their current plan fully covers Mater Private and Blackrock Clinic across the board,
so a lower priced plan may not cover every procedure, but would still cover a fair chunk of cover.

The MPF 'premium plan' would look like a very good alternative option at half the cost. Even if one person switches to that plan it would reduce costs significantly, again if it suits. This is at a very good price for a plan with no excess in private hospitals. The nearest equivalent price would be 1530pa each approx with VHI - One Plan Extra.
The main thing is that they understand the difference in cover which may or may not matter that much to them.

In their case, as this plan is not available to everyone on the open market, as its a limited scheme, I would be inclined to get a fee based consultation with a broker that specialises in health insurance. Mainly, from the point of view of explaining to them, what the differences would be in relation to their medical needs and if it would be cost effective overall to downgrade. The broker would also recommend any alternatives if any, that can compete with the ESB plans. When you're spending 4,000 + per year on something, a couple of hundred euro for advice is tiny in comparison and can last years, by pointing you in the right direction.

I have no connection to any health insurance broker, the two prominent ones are Dermot Goode or Patrick Brennan.
http://www.totalhealthcover.ie/
http://irishhealthinsurance.ie/

Regards, Snowyb
 
My parents health insurance is up for renewal. It's Irish Life 01.

My mam wants high tech hospitals as she has one hip replacement in Northwood. She is 69, couple of consultant appointments as she has eye issues. Goes abroad a lot

My dad is 78. Has many health issues but is now on weekly doctor care in hse.

I was recommending to Mam to take my dad off it. Any ideas on best plan for her?
 
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