Health Insurance Private Health Insurance for retirees? Good idea?
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LondonIrish
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I don’t think anyone can give a definitive answer to this, but I recently discussed the topic with a doctor. Broadly, the options are: relying entirely on the public healthcare system, self-paying for treatment, or taking out full private health insurance. Without knowing your financial situation, it’s hard to say what is genuinely affordable without creating pressure elsewhere.
I asked the doctor whether someone might be better off skipping private insurance and saving the premiums instead. His view was that people often focus only on the predictable health issues associated with ageing – for example, joint replacements, where it’s easier to estimate costs. In those cases, people sometimes reason that several years of insurance premiums might equal the cost of a hip replacement, so self-paying could seem logical. However, he also cautioned that newer and often very expensive treatments, particularly for conditions like cancer, may not be available through public systems due to cost. In those scenarios, private insurance can be extremely valuable. He compared having health insurance to holding a lottery ticket: you wouldn’t give it up unless you truly can’t afford it.
Ultimately, there’s no universally right answer. You might decide that, given your current good health, insurance feels unnecessary — but it’s also possible you could regret that decision later. Some people have excellent experiences with public healthcare, while others are willing to pay significant amounts to avoid relying on it.
For what it’s worth, my elderly parents think a lot about their health and will cut almost any other expense before reducing their substantial healthcare coverage, simply because it gives them peace of mind.
I asked the doctor whether someone might be better off skipping private insurance and saving the premiums instead. His view was that people often focus only on the predictable health issues associated with ageing – for example, joint replacements, where it’s easier to estimate costs. In those cases, people sometimes reason that several years of insurance premiums might equal the cost of a hip replacement, so self-paying could seem logical. However, he also cautioned that newer and often very expensive treatments, particularly for conditions like cancer, may not be available through public systems due to cost. In those scenarios, private insurance can be extremely valuable. He compared having health insurance to holding a lottery ticket: you wouldn’t give it up unless you truly can’t afford it.
Ultimately, there’s no universally right answer. You might decide that, given your current good health, insurance feels unnecessary — but it’s also possible you could regret that decision later. Some people have excellent experiences with public healthcare, while others are willing to pay significant amounts to avoid relying on it.
For what it’s worth, my elderly parents think a lot about their health and will cut almost any other expense before reducing their substantial healthcare coverage, simply because it gives them peace of mind.
There has been some previous discussion on this subject on AAM in the past.
After a visit to public A&E a few years back I was told that if my case was marked at urgent I would be treated in possibly a year or 5 years if non-urgent and that was despite being in pain. Through my health insurance I had surgery within 6 weeks. That confirmed my view that as Dave Allen would have said "may your God go with you".
To me this is the most important time of their lives to have their health insurance.
Of course the particular illness will dictate the wait time and ones like dermatology do seem to have long wait times. Lots of medics heading abroad for better quality of life with housing etc is not helping.
Depending on the outcome Level Health's complaint as discussed here may have an impact on the premiums for older people also.
After a visit to public A&E a few years back I was told that if my case was marked at urgent I would be treated in possibly a year or 5 years if non-urgent and that was despite being in pain. Through my health insurance I had surgery within 6 weeks. That confirmed my view that as Dave Allen would have said "may your God go with you".
To me this is the most important time of their lives to have their health insurance.
Of course the particular illness will dictate the wait time and ones like dermatology do seem to have long wait times. Lots of medics heading abroad for better quality of life with housing etc is not helping.
Depending on the outcome Level Health's complaint as discussed here may have an impact on the premiums for older people also.
LondonIrish
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I also forgot to mention that as my parents get older, they’ve become very attached to their health-care plan and are very reluctant to discuss whether it’s still appropriate for them at their age. The doctor I spoke to suggested that they may be paying for cover that is no longer relevant. For example, my father is in his 90s and still has cover for treatments such as open-heart surgery and chemotherapy—interventions that many doctors would be unlikely to recommend at that stage of life due to the risks and limited benefit.
I suppose it’s worth remembering that rising premiums aren’t inevitable if you’re willing to review your policy every few years. It is not uncommon for people to switch or downgrade their plan as they get older, often moving to a cheaper tier while still retaining the core benefits they are most likely to need though again, this carries risks.
I suppose it’s worth remembering that rising premiums aren’t inevitable if you’re willing to review your policy every few years. It is not uncommon for people to switch or downgrade their plan as they get older, often moving to a cheaper tier while still retaining the core benefits they are most likely to need though again, this carries risks.
Brendan Burgess
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Health insurance is very bad value for younger people who are much less likely to claim.
And consequently great value for older people who are subsidised heavily by younger people
And consequently great value for older people who are subsidised heavily by younger people
Annieindublin
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As costs escalate in the health industry self-insurance is risky and relying on public is also risky.
It’s a gamble I think .
It’s a gamble I think .
I barely saw a doctor before I retired. Ten years on and I have extensive experience of both public and private health, most of it good, and not one sided by any means. Neither system is perfect but I definitely would not want to be without the option of private care.
There ia a confusing number of health plans to choose from so it's important to do your research and find one that you feel suits your current needs. All this while taking an educated guess at your health needs in the near future.
I review both our plans every year and change if I find a better one. The process may take a couple of hours, but then it's quite a large expense and I'm keen to get the best value for our retirement money. Worth every penny though imo.
There ia a confusing number of health plans to choose from so it's important to do your research and find one that you feel suits your current needs. All this while taking an educated guess at your health needs in the near future.
I review both our plans every year and change if I find a better one. The process may take a couple of hours, but then it's quite a large expense and I'm keen to get the best value for our retirement money. Worth every penny though imo.
I was a doctor for 10+ years (and a patient for most of that time) in Ireland, both public and private hospitals. Health insurance would be one of the last things I would give up. If they can afford it they should absolutely keep it. Self-pay is too risky, don't even consider it.
Bad value for the average young person. If you are 35 and health insurance gets you a diagnosis faster, gets you back to good health sooner, gives you a better outcome, maybe even saves your life, then you are getting far better value for money (both in health and financial terms) than someone who is say 70+.
Brendan Burgess
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But you don't need health insurance to go privately. You can pay it yourself.
5 years is a long time but for those without private health insurance, and who are entitled to treatment in a Public Hospital in Ireland, the Cross Border Directive ( for treatment in EU/EEA) is there, or the Northern Ireland Planned Healthcare Scheme ( for treatment in Northern Ireland ) is there.
For many tests and outpatient visits, yes, but the vast majority of people would not be able to afford to self pay any significant treatment or surgery. Being a self-payer or having a high excess also makes people slower to access care, even for serious conditions, so ironically "wealthy" self paying patients can sometimes present later with more complicated disease than less well off people who are covered by insurance.
Annieindublin
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As far as I can see the charges in private hospitals are becoming more and more like USA, the hotel services are getting crazy expensive. Every extra is being tracked and charged. My dad’s recent visit resulted in a massively long detailed invoice. Every consultant in the hospital seems to have popped in to check him out. Specialities we have never heard of and we have no idea why they arrived in his room, we have asked but haven’t seen reports from many of them. It’s just a matter of time before the insurers start fighting this.
And the total bill was 90k. Not something you want to self insured for.
And the total bill was 90k. Not something you want to self insured for.
Health insurance being bad value for younger people is highly debatable is most likely correct though you can take out a much cheaper plan at a young age.
Health insurance for older people who spent most of their life with health insurance propping up the older generation is like swings and roundabouts.
Relying on the Public health system at any age is absolute lunacy.
Health insurance for older people who spent most of their life with health insurance propping up the older generation is like swings and roundabouts.
Relying on the Public health system at any age is absolute lunacy.
I would recommend keeping the health insurance. My mum died last year after a 6-9 month period of becoming increasingly unwell with multiple emergency admissions to public A&E. Each admission treated the event that caused the admission but none addressed her multiple underlying conditions which were causing her decline. A&E and the public hospital system is not easy on an elderly frail lady. We her children had a rota to stay with her 24x7 to ensure she was reassured by our presence and saw that her needs were being met.
Her GP arranged for her to be admitted to the bons for further evaluation after he final A&E visit. It was like night and day. She had a private room and peace and calm, which greatly helped her. And she spent the last 2 weeks of her life in a calm, dignified, caring space where we all got to spend some time with her.
She had health insurance for semi private but not private room cover, however the bons waived that fee, and her full stay was covered by her health insurance. It was a very dignified and peaceful death and form her multiple trips to the public hospital in the previous 9 months I doubt I could say the same if she had died in the public system.
Her GP arranged for her to be admitted to the bons for further evaluation after he final A&E visit. It was like night and day. She had a private room and peace and calm, which greatly helped her. And she spent the last 2 weeks of her life in a calm, dignified, caring space where we all got to spend some time with her.
She had health insurance for semi private but not private room cover, however the bons waived that fee, and her full stay was covered by her health insurance. It was a very dignified and peaceful death and form her multiple trips to the public hospital in the previous 9 months I doubt I could say the same if she had died in the public system.
thecoffeepod
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Yeah can be , but again it's insurance
I've had insurance since 18 and lucky I did because I'd be waiting and couldn't afford to wait or paying thousands by way of loans
At 20 , I needed a minor heart procedure Cardiac ablation but id a bunch of consultants visits and different checks before finally getting a procedure
Then
At 25 I needed a Nissen fundoplication, cost was 12500, again a bunch of gp and consultant visits before hand at cost
And a bunch of other stuff from 26 to 30 (back issues. Shoulder issues and more)
I think getting it from 30s (for example) is wise because some insurance will charge higher if taken out after 35 for the first time but won't charge/apply loading based on age if you have it before 35
Either way, statistically it's like given away money when you're young each year
So I get your point
But yeah, it's insurance and happy to have it when needed ,
But again, in my particular circumstances the procedures went into the thousands of euros so it worked out for me
My health insurance was around 50 a month at the time
Not some, all. It's a mandatory part of the Lifetime Community Rating system.
Lifetime community rating (LCR)
Lifetime community rating is a system whereby the premium that individuals pay for health insurance rises with the age they enter the private health insurance market, but does not vary in relation to their current age.
As you get older there’s a high probability you need it even more.
But as someone else said there’s no definitive answer. If for example they find themselves retiring on only the state pension they just might not be able to afford it, or if someone has a nice stash of savings they could say well I’ll take the risk and pay for anything needed
But as someone else said there’s no definitive answer. If for example they find themselves retiring on only the state pension they just might not be able to afford it, or if someone has a nice stash of savings they could say well I’ll take the risk and pay for anything needed
KBeckFischer
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Disclosure first: I work at Ablement, which helps people in Ireland have planned treatment in a private hospital elsewhere in the European Union and claim the cost back from the HSE.
To add some detail to demoivre's point, as the two schemes can change the sums in this decision.
The Cross Border Directive and the Northern Ireland Planned Healthcare Scheme let anyone entitled to public hospital care in Ireland have planned treatment in a private hospital elsewhere in the European Union, or privately in Northern Ireland, and claim the cost back from the HSE. You don't need a medical card and you don't need to be on a waiting list; you need a referral letter from your GP, dated before your first consultation.
What they don't replace: you pay the hospital up front and wait for the refund (in late October some people had waited five or six months, though the HSE has said it expects to be back to normal by February 2027); the refund is capped at what the treatment costs in the Irish public system; travel, accommodation and a companion's costs are yours; and it is for planned treatment you travel for, so it does nothing for an emergency admission at home.
One rule that matters for retirees: if your pension comes from another European Union country, the United Kingdom or Switzerland, check with the HSE before relying on either scheme.
And if you keep the insurance, don't claim on it for any part of a treatment you plan to claim under the Directive: the claim fails if insurance pays anything.
To add some detail to demoivre's point, as the two schemes can change the sums in this decision.
The Cross Border Directive and the Northern Ireland Planned Healthcare Scheme let anyone entitled to public hospital care in Ireland have planned treatment in a private hospital elsewhere in the European Union, or privately in Northern Ireland, and claim the cost back from the HSE. You don't need a medical card and you don't need to be on a waiting list; you need a referral letter from your GP, dated before your first consultation.
What they don't replace: you pay the hospital up front and wait for the refund (in late October some people had waited five or six months, though the HSE has said it expects to be back to normal by February 2027); the refund is capped at what the treatment costs in the Irish public system; travel, accommodation and a companion's costs are yours; and it is for planned treatment you travel for, so it does nothing for an emergency admission at home.
One rule that matters for retirees: if your pension comes from another European Union country, the United Kingdom or Switzerland, check with the HSE before relying on either scheme.
And if you keep the insurance, don't claim on it for any part of a treatment you plan to claim under the Directive: the claim fails if insurance pays anything.