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Employer Health Insurance covers less than my current...

  • 07-10-2017 7:24am
    #1
    [Deleted User]
    Posts: 0 ✭


    Hi Insurance people 👋
    Just a question, so I’ve finally got my long term contract with work which entitles me to sign up for the company’s health insurance package.
    Only thing is, I went myself and got cover from Laya (Assure Vitality) thinking (due to the Company having Laya healthcheck Service numbers on the noticeboards at the time, and on the conversation with the Laya rep on the phone) that when the time came to get started on the Company plan, it’d be an easy thing to bring across & I’d start with time served on waiting periods before cover.
    Now, the time is here, I find that the Company plan is actually with VHI, (Silver), and it covers less than the Assure Vitality, but does Dental better.
    So how do I manage this? Am I able to avail of both, or is it a waste of money for me to keep up Laya while I have VHI via the employer? If I go to the employer plan, can I upgrade it to cover similar to what the Assure plan does?
    And, if I do change, will the time served under Laya cover count in waiting periods?


Comments

  • #2
    Spocker
    Moderators Posts: 6,900 ✭✭✭Spocker


    Time served with any provider counts. Does the employer pay the full cost of the VHI? That would mean you'd be hit with the BIK, and you have to weigh up if this charge is more beneficial to you than having to pay for Laya yourself.

    As to which plan is better, only you can decide. You haven't mention any dependants, so are things like maternity or kids cover important to you? Are high-tech hospitals something on your radar?

    Try this site to compare the plans side by side, and get a feel for what is/isn't covered on each

    https://www.hia.ie/ci/comparison/step3?plan_ids=380|88&source=plans

    You can avail of both if you wanted, but you'd be overinsured - pick the one that fits you best and go with that

    [Edit] I couldn't find the VHI (Silver) plan you're referring to, so make sure to update the comparison link above to whichever one it actually is


  • #3
    coylemj
    Registered Users, Registered Users 2 Posts: 25,624 ✭✭✭✭coylemj


    Spocker wrote: »
    Time served with any provider counts. Does the employer pay the full cost of the VHI? That would mean you'd be hit with the BIK, and you have to weigh up if this charge is more beneficial to you than having to pay for Laya yourself.

    In the worst case scenario, the OP will have to pay (via BIK) 40% of the cost of the policy being provided by the employer so it's highly unlikely that it will be to his financial advantage to forego that benefit. The cost of the Laya policy less the BIK he will not pay is still going to be a hefty price to pay for a few extra benefits.

    OP, exactly which of your existing policy benefits will diminish or disappear if you go onto the employer VHI scheme?


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