Cancelling VHI?

readyletsgo · 01-12-2011 7:20pm #1

Just a quick question.

My vhi policy is ending this month and renewing on the 1st of Jan, I just can not afford this policy anymore and feel I dont need it as a single 30 year old man. It is paid through my salary each week.

If I ring them tomorrow to cancel what will I be dealing with? Do I have to send in letter, call my salary section etc or is it simply just cancelling the policy and paying up until the 31st of dec?

Any help is very much appreciated!

JaneyMacker · 01-12-2011 7:35pm

As a careful driver i fell i dont need insurance on my car

While VHI is getting really really expensive, it might be worth checking out what you will be giving up.

And i dont mean just asking about it on the interweb.
You'll have people here trying to justify staying with the VHI as it makes them feel better that they are still paying.
And on the other side you'll have people telling you you are mad, justifying their decisions to axe VHI.

Its well worth putting in the leg work yourself to see what the situation for you is.

readyletsgo · 01-12-2011 7:40pm

Thanks for the reply and I understand were you are coming from, but just can not afford it at the moment and have an opportunity to cancel now, or pay for the next year and be charged if I really have to cancel. Life is getting to expensive in the country...

I was hoping someone on here has cancelled with them in the past few months and would be able to pass on the experience I guess.

another native · 01-12-2011 8:40pm

Write to VHI, Dublin Road, Kilkenny, informing them that you do not wish to renew your subscription for January 1, 2012. State your membership number. Let your salary section know too.

During December, VHI normally writes out to its members whose policies expire at end of the year. Hope this helps!

eyescreamcone · 01-12-2011 8:45pm

I cancelled earlier this year.
A girl rang me enquiring why I wanted to leave. Would I like a cheaper cover.

I said I was now covered on my wife's insurance (free through work)

cookie1977 · 01-12-2011 8:57pm

If you are committed to stopping your VHI cover (remember you'll have to serve waiting times if you return for pre existing conditions if more than 13weeks have lapsed since you were last insured) you should check out the HSF as another option:
http://www.hsf.eu.com/ireland/
Their plans are not like mainstream health insurance which cover you for set procedures and stays in public private hospitals, rather they pay you an amount for a variety of treatments and stays in hospitals including the dentist and your family (if you have one) are covered for free. The options are varied so there's a price for every one. Plans start from 9.50 a month.

http://www.hsf.eu.com/files/HSF-ROI-Direct-Schemes-2010.pdf

It's just another option to consider if you are getting rid of your VHI health insurance

dudara · 02-12-2011 9:46am

Moved to Banking & Insurance & Pensions

dudara

troops · 03-12-2011 12:54pm

thinking of cancelling myself...20/25% hike too much

besides the reimbursements for GP, dentist etc...., is VHI really only useful if u get proper sick and need an op or the like?
even then does it get u any more than public or does it just get you there quicker?
can't see any other benefit really

coylemj · 03-12-2011 4:00pm

Tell your payroll department to stop making the payment, don't even bother telling VHI, they'll eventually notice that the payments have stopped but there's no reason other than courtesy to tell them, it's not like a direct debit where you do need to tell them.

broker2008 · 03-12-2011 4:28pm

readyletsgo wrote: »

Just a quick question.

My vhi policy is ending this month and renewing on the 1st of Jan, I just can not afford this policy anymore and feel I dont need it as a single 30 year old man. It is paid through my salary each week.

If I ring them tomorrow to cancel what will I be dealing with? Do I have to send in letter, call my salary section etc or is it simply just cancelling the policy and paying up until the 31st of dec?

Any help is very much appreciated!

There are other more affordable options.

VHI, Quinn & Aviva all offer plans for under €500 per annum.

Ring all 3 insurers and tell them what you are looking for and then compare all 3 plans on the Health Insurance Authority websites.

If still not happy, you do need to make contact with VHI to ensure that they sign you up for another year.

By leaving VHI, you have flexibility with Quinn & Aviva - VHI is NOT regulated by the Central Bank - so same rules don't apply to Quinn & Aviva.

You have up to 13 weeks to stay off cover before having to serve waiting periods as if you are new to health insurance for the first time irrespective of whether you have anything wrong with you or not.

If your circumstances change within or towards the end of the 13 weeks, you can sign up for health insurance again without having to serve any waiting periods.

broker2008 · 03-12-2011 4:30pm

cookie1977 wrote: »

If you are committed to stopping your VHI cover (remember you'll have to serve waiting times if you return for pre existing conditions if more than 13weeks have lapsed since you were last insured)

If you let your cover lapse for more than 13 weeks - you have to serve ALL waiting periods again not just those for pre existing conditions. Some insurers might waive the initial 26 week period if you ask nicely though

broker2008 · 03-12-2011 4:35pm

cookie1977 wrote: »

you should check out the HSF as another option:
http://www.hsf.eu.com/ireland/
Their plans are not like mainstream health insurance which cover you for set procedures and stays in public private hospitals, rather they pay you an amount for a variety of treatments and stays in hospitals including the dentist and your family (if you have one) are covered for free. The options are varied so there's a price for every one. Plans start from 9.50 a month.

http://www.hsf.eu.com/files/HSF-ROI-Direct-Schemes-2010.pdf

It's just another option to consider if you are getting rid of your VHI health insurance

VHI & Aviva both offer cover for outpatient medical expenses costing from €6 per month for children and €14 per month for adults.

broker2008 · 03-12-2011 4:37pm

coylemj wrote: »

Tell your payroll department to stop making the payment, don't even bother telling VHI, they'll eventually notice that the payments have stopped but there's no reason other than courtesy to tell them, it's not like a direct debit where you do need to tell them.

Personally I wouldn't risk that. If your payroll department don't cancel they will tie you in for another year with cancellation fees kicking in 14 days after the renewal date. Send an email to info@vhi.ie followed up by a letter. Keep a copy.

billyhead · 03-12-2011 5:34pm

I am considering cancelling myself. I have been with the VHI for 10 odd year and have never had a need to make use of it. I do not have any dependents and as far as I am aware perfectly healthy. I can afford the cover but just think I am wasting my money practically covering other peoples health claims. Are there any people posting on this forum considering cancelling even though they can afford it. I might just take the gamble (sure if you ever seriuoly injured you will be rushed in for the same treatment anyway as someone not covered. its just an example.;)

cookie1977 · 03-12-2011 7:39pm

broker2008 wrote: »

If you let your cover lapse for more than 13 weeks - you have to serve ALL waiting periods again not just those for pre existing conditions. Some insurers might waive the initial 26 week period if you ask nicely though

The most concerning thing about waiting periods when you do give up the health insurance though is the pre existing conditions. As some of these waiting periods can be 5 years. But you're correct. Even if you upgrade a plan or switch providers (where the new providers plan offers a little more) there can be waiting periods which sometimes as you say they will waive.

troops · 03-12-2011 7:56pm

billyhead wrote: »

Are there any people posting on this forum considering cancelling even though they can afford it. I might just take the gamble (sure if you ever seriuoly injured you will be rushed in for the same treatment anyway as someone not covered. its just an example.;)

i can afford it but at near 2 grand a year i think i'll give it up

broker2008 · 03-12-2011 8:55pm

cookie1977 wrote: »

The most concerning thing about waiting periods when you do give up the health insurance though is the pre existing conditions. As some of these waiting periods can be 5 years. But you're correct. Even if you upgrade a plan or switch providers (where the new providers plan offers a little more) there can be waiting periods which sometimes as you say they will waive.

Up to 10 years not 5.

cookie1977 · 04-12-2011 2:42pm

Not quite true broker2008. Depends:
http://www.citizensinformation.ie/en/health/health_insurance/private_health_insurance.html

http://www.hia.ie/consumer-info/health-insurance-cash-plans.htm

cookie1977 · 04-12-2011 2:46pm

And:

http://www.hia.ie/consumer-info/faqs.htm

broker2008 · 04-12-2011 6:29pm

cookie1977 wrote: »

The most concerning thing about waiting periods when you do give up the health insurance though is the pre existing conditions. As some of these waiting periods can be 5 years. But you're correct. Even if you upgrade a plan or switch providers (where the new providers plan offers a little more) there can be waiting periods which sometimes as you say they will waive.

It is a bit like a multiple choice answer.

The above statement is not correct as it can be 10 years.

My statement is correct up to 10 years not 5.

The most correct answer would be : up to 10 years depending on age.

I didn't want to be a total smart a but as you have questioned the veracity of my post.....

I know of a case where someone has an outstanding bill of over €20,000 because their new waiting period was 10 years and not 5 having lapsed their cover for more than 13 weeks.

Not serving waiting periods is the biggest single reason for insurers reneging on claims. Giving up health insurance in one's 20's can be a problem in the future as people don't understand what the definition of a pre existing condition is.

Also upgrade waiting periods are also an issue where one has taken a cheap plan or downgraded their cover and have up to 5 years(depending on age) for the upgrade part for any pre existing conditions.

It is important that posters are given full not partial facts.

cookie1977 · 04-12-2011 6:32pm

Couldn't agree more so hence why I like to quote actual reliable sources

broker2008 · 04-12-2011 6:38pm

cookie1977 wrote: »

Couldn't agree more so hence why I like to quote actual reliable sources

Pity you didn't do it in your first post so.:rolleyes:

cookie1977 · 04-12-2011 6:43pm

broker2008 wrote: »

Pity you didn't do it in your first post so.:rolleyes:

Ok I said:

As someof these waiting periods canbe 5 years.

and you said:

Up to 10 years not 5

I suggested 5 which was correct. You said not 5 which is incorrect.

cookie1977 · 04-12-2011 6:47pm

In fact your original post which you deleted was probably a more accurate reply :

Upto 10 years depending on age.

byhookorbycrook · 04-12-2011 6:51pm

Paid it for 20 years, never claimed once. Suddenly, diagnosed with MS, MRIs urgent access to neurologist(public was two year waiting list), the drug I'm on now,covered by VHI,is 2,500 per month. Think carefuly, it's a lot of money, but you never know the day.

cookie1977 · 04-12-2011 6:52pm

Oh and finally, since the OP is a 30yr old man I dont think he'll need to wait 10 years

Maybe you should read the thread more closely

cookie1977 · 04-12-2011 6:55pm

byhookorbycrook wrote: »

Piad it for 20 years, never claimed once. Suddenly, diagnosed with MS, MRIs urgent access to neurologist(public was two year waitnig list), the drug I'm on now,covered by VHI,is 2,500 per month. Think carefuly, it's a lot of money, but you never now the day.

Sorry to hear that. But you're right. It's a tough decision to cancel and it seems obvious when you're young, healthy and feeling invincible. I hope you're ok. My Aunt has MS since 04 but is doing well.

danjo-xx · 04-12-2011 7:24pm

Got my renewal notice and just for myself its €650 Quinn Essential and very tempted to not renew as I could use that money elsewhere.

€205 of that is a government levy:eek:

and what will it be next year and the next!!

The thing is I'm approaching pension age and in the danger zone so its really a no brainer for me I guess.

I'm really paying for it out of some small savings I have but best to keep it going for as long as I can.

thrilledskinny · 04-12-2011 8:30pm

Ditto....got the exact same policy and qoute in the post this week....and i had gone out of my way to choose the cheapest policy last yr......my god will be seriously considering do i need to pay this amount of money.....

ps i'm no where near pension age so how can we have the same quote ??

JaneyMacker · 04-12-2011 8:46pm

thrilledskinny wrote: »

Ditto....got the exact same policy and qoute in the post this week....and i had gone out of my way to choose the cheapest policy last yr......my god will be seriously considering do i need to pay this amount of money.....

ps i'm no where near pension age so how can we have the same quote ??

Community rating.
You might be glad of it some day when you are older and really need medical insurance. Imagine how much over 45s would have to pay if their wasnt community rating.
They way i see i is that i pay more now and it will come back to me when im older, so it will even out.

danjo-xx · 05-12-2011 7:16pm

Its hard to know what to do

04 November 2011
The squeeze on household budgets is forcing thousands of people to ditch their private health insurance policies.

The move comes as the VHI increased its premiums by 23pc this year, Quinn hiked their premiums by 16pc and Hibernian Aviva upped premiums by 29pc.

The VHI expects as many as 200,000 people to cancel their private healthcare plans with the three different providers, the Irish Independent has learned.

Some 2.2 million people currently have private health insurance, or 52pc of the population. Ireland has the highest private health coverage in the world.

http://pibasure.ie/news/122-200-000-to-cancel-health-cover-as-incomes-fall-and-premiums-soar-irish-independent

And in todays budget the hse is going to bump up the cost of pvt beds in public hospitals and this it is said could increase pvt health ins premiums by 50%

readyletsgo · 05-12-2011 8:18pm

I see the point (the only point of it) that if i get sick I am covered, but I am in very good health at the moment so I have cancelled it as of this morning.

Veyr little money to waste.
I will set it back up after 2015's final budget, see where we are then.

Looking into that other health care that was linked before...
Back up an all.
http://www.hsf.eu.com/ireland/

Thanks for that link Cookie1977!

JaneyMacker · 05-12-2011 8:55pm

I have this funny feeling that now health insurance is going to cost you more money if you get sick, than if you dont have it.
Strange days.

JD Dublin · 10-01-2012 2:17pm

readyletsgo wrote: »

Just a quick question.

My vhi policy is ending this month and renewing on the 1st of Jan, I just can not afford this policy anymore and feel I dont need it as a single 30 year old man. It is paid through my salary each week.

If I ring them tomorrow to cancel what will I be dealing with? Do I have to send in letter, call my salary section etc or is it simply just cancelling the policy and paying up until the 31st of dec?

Any help is very much appreciated!

Just about to renew there for 2012, and there is a marked increase in the policy - this of all years.

A friend of mine has got a better quote by asking that VHI increase the excess - essentially she will have to pay the first 500 euros per hospital visit.

When I phoned the VHI they know nothing about increasing the excess. If anyone there knows if the excess can be changed, I'd appreciate it.

Cancelling VHI?

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