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Getting my first VHI policy -can you advise me?

  • 16-02-2012 4:56pm
    #1
    wivy
    Registered Users, Registered Users 2 Posts: 204 ✭✭


    Hi all, sorry now this probably sounds like a stupid question.
    Im in my early 20s and looking at getting my first vhi plan..I dont really have anyone to advise me.. I've been on the phone to them but I'm still a bit unsure about a few things... can anyone explain the 'excess' bit to me?
    I've been quoted 570 euro for public day to day procedures in a public hospital and a few day to day expenses eg. 20 back on three visits with a gp/dentist.. If I dont get the gp day to day expenses its 495. Does this sound about standard? is it worth paying the extra 75 for gp cover?
    would appreciate any thoughts
    thanks a million in advance..


Comments

  • #2
    subscriber
    Registered Users, Registered Users 2 Posts: 895 ✭✭✭subscriber


    i don't know a huge amount about insurance so hopefully you will get a few more replies as well but what I can explain is the excess part. Excess refers to how much you pay before the insurance kicks in and covers the rest so for instance, if you went for a procedure that cost 1000 euro and the excess on the policy was 250 euro, you would have to pay the first 250 euro and the insurance would cover the last 750 euro. Alternatively if you went for a procedure that cost 249.99 euros you would be liable for the full cost as it comes under the excess which you always pay.

    I know what you are thinking.. This is daft!!! But unfortunately this is the case with all insurance policies, house car, and health. Very few policies have an option where you can set the excess at 0 euro's until you have been with them a few years and are a loyal customer.

    Weather or not you go for the additional GP cover entirely depends on how often you visit the GP. For the sake of getting 20 euros back for each visit, If you think you will use the GP or dentist more than four times in the year (which you prob will) it is worth it in my opinion as you effectively get the 75 back!

    Also bare in mind, you will not be able to make any claim on the insurance until you have it a minimum of 12 months. It is only after one year of payments that you can start to make claims. They operate like this so that you have built up a deposit account with them effectively to cover your own claims when you do start to claim.

    Hope this helps.


  • #3
    uck51js9zml2yt
    Closed Accounts Posts: 18,268 ✭✭✭✭uck51js9zml2yt


    Check out hia.ie for comparisons and look at the corporate plans.
    Normally are cheaper.


  • #4
    okiss
    Registered Users, Registered Users 2 Posts: 699 ✭✭✭okiss


    You should look at the other insurers for health insurance as well as vhi. If you get better value on a policy you can't move from vhi until you next renewal date.
    You need to decided how much cover you want for the different hospital types which are public hospitals, private hospital and the high tech hospitals.A public hospital include the mater public hospital and the local general hospital.A private hospital would include St Vincent private hospital. The high tech hospitals would include The Mater Private, the Becon clinic and The Blackrock Clinic.
    I would take out a policy that would give you cover for a semi -private room in private hospital and covers a day case in private hospital with an excess for you to pay. The reason for this is that if you need to have tests or treatment you should be seen quicker if you go to a private hospital. If you go for the lower price cover you may not be able to attend a private hospital or you could have a large bill facing you if you do. I would also look for cover for day to day expenses ie doctor, consultants ect with a €1 euro excess.
    A lot of policies now have a large excess ie €150 which means the health insurer will allow €20 per doctors visit so you will have to visit the doctor 8 times before you can make a claim.
    The hia.ie website has a lot of information and the have a section on choosing health insurance which is worth a read.


  • #5
    broker2008
    Registered Users, Registered Users 2 Posts: 750 ✭✭✭broker2008


    subscriber wrote: »
    But unfortunately this is the case with all insurance policies, house car, and health. Very few policies have an option where you can set the excess at 0 euro's until you have been with them a few years and are a loyal customer.

    Rubbish, there are plenty and it has no bearing on how long you are with them . Health Insurance is entirely different.


  • #6
    broker2008
    Registered Users, Registered Users 2 Posts: 750 ✭✭✭broker2008


    subscriber wrote: »
    Also bare in mind, you will not be able to make any claim on the insurance until you have it a minimum of 12 months. It is only after one year of payments that you can start to make claims. They operate like this so that you have built up a deposit account with them effectively to cover your own claims when you do start to claim.

    Again not true. A first time subscriber is subject to waiting periods; 6 months to 5 years depending on whether it is a new condition or a pre existing condition. It is one year for maternity.


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  • #7
    broker2008
    Registered Users, Registered Users 2 Posts: 750 ✭✭✭broker2008


    wivy wrote: »
    Hi all, sorry now this probably sounds like a stupid question.
    Im in my early 20s and looking at getting my first vhi plan..I dont really have anyone to advise me.. I've been on the phone to them but I'm still a bit unsure about a few things... can anyone explain the 'excess' bit to me?
    I've been quoted 570 euro for public day to day procedures in a public hospital and a few day to day expenses eg. 20 back on three visits with a gp/dentist.. If I dont get the gp day to day expenses its 495. Does this sound about standard? is it worth paying the extra 75 for gp cover?
    would appreciate any thoughts
    thanks a million in advance..

    The plans that VHI have quoted you are one plan starter and one plan starter day 2 day. Couple of questions you have to ask, do you want cover for public, semi private in a public, do you use day 2 day cover etc . As VHI impose a minimum one year contract and don't allow changes , have a look at Aviva or Quinn where you could increase your cover at any time, subject to potential waiting periods. This would mean you could start on a low plan to serve an initial waiting period for 26 weeks and then increase to more suitable cover. You could also ask if they are willing to waive this waiting period. After you have a couple of suggestions compare the cover on hia.ie. Aviva increased the prices on some of their plans last week but they will allow you backdate for a couple of more days. Quinn will be increasing their plans again on march 1st. The flexibility that quinn and aviva offer far outweighs VHI's offers. A broker who specialises in health insurance would be able to save you a lot of time.


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