Health Insurance Warning Pat Kenny Show

ei9go

Listen from 43 minutes.

Pat is talking to the head of the Health Insurance Authority when it all goes pear shaped.

Listen and see what you think.

http://www.newstalk.com/player/shows/The_Pat_Kenny_Show/13240/17160/18th_March_2015_-_The_Pat_Kenny_Show_Part_1

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The HIA issued a statement afterwards clarifying the requirement.

From the Times...

"The HIA then followed up the interview with a statement of clarification in which it said that where an adult rate of premium was paid for an individual that will be taken into account in calculating the amount of age-related loadings that may apply after 30th April."

Maryanne40

Yes, I heard this interview today and found it disturbing. It doesn't affect me personally but I did alert a few people I work with to what had been said (or not said actually!!) Is there any way you could link the HSE statement Project Moose?

slimjimmc

Moved to Banking & Insurance & Pensions

ThisRegard

The guy, or someone who knows what they're talking about, is back on Pats show this morning.

LostArt

http://www.hia.ie/news/press-release-issued-behalf-health-insurance-authority-0

bladespin

Possibly the wrong place but didn't the whole risk equalization thing do away with age loading?

Liam McPoyle

bladespin wrote: »

Possibly the wrong place but didn't the whole risk equalization thing do away with age loading?

Thats motor insurance and is based on gender, age is still a loading factor, particularly with health insurance.

Youngblood.III

I hate this country... In 2009 I had health insurance, and i was paying risk equalisation for older people...had to drop it in 2012 due to not having enough money to pay it, NOW some smart arse thinks its a good idea to charge me a levy on top of the cost because I'm over 35 and cannot afford it anyway .... Who gives these fools a job???

bladespin

Business Cat wrote:

Thats motor insurance and is based on gender, age is still a loading factor, particularly with health insurance.

Pretty sure it was health, the reason Bupa exited the market, Mary Hearny propping up VHI with it's older customer base, hence Quinn and now Laya. Even worse was the fact they left motor etc alone, so it's ok to discriminate on age but it's not.

LostArt

bladespin wrote: »

Possibly the wrong place but didn't the whole risk equalization thing do away with age loading?

Risk equalisation is a process that aims to address differences in insurers’ claim costs that arise due to variations in the health status of their members. Risk equalisation involves payments to or from insurers related to the risk profile of their membership. Basically, as VHI have the majority of the older customers their claims costs are higher and receive more refunds from the risk equalisation fund.

Eugene Norman

Youngblood.III wrote: »

I hate this country... In 2009 I had health insurance, and i was paying risk equalisation for older people...had to drop it in 2012 due to not having enough money to pay it, NOW some smart arse thinks its a good idea to charge me a levy on top of the cost because I'm over 35 and cannot afford it anyway .... Who gives these fools a job???

Wont you be exempted precisely because you had it before.