Do you need private health insurance?
The decision to take out private health insurance or indeed to maintain cover on your private health insurance policy is not one that any of us take lightly. After all, there is a public health system in Ireland, which is supposed to cater for our needs.
However, unfortunately in Ireland, the limitations of the public health system feature almost daily in the news. We regularly hear the challenges that people face in the public system in terms of;
- Accessing a bed in hospital urgently
- Getting access to treatment for non-urgent health issues
- Getting access to a particular consultant quickly
- Managing their out-patient (e.g. GP) costs.
In the last number of years, we have seen a fall in number of people with private health insurance from a high of almost 2.3m people at the end of 2008. This is down to a number of factors;
- Rising unemployment
- A fall in incomes
- The rising cost of private health insurance
However as at the end of June 2012, over 2.1m people in Ireland have still recognised the need for private health insurance and still have cover in place. They recognise the value of this cover that provides them with;
- Access to an extensive range of hospitals
- Access to their chosen consultant and cover for their fees
- Cover of day to day medical expenses
- Payment towards maternity expenses
- Costs for counselling , reflexology etc
- Access to a 24 hour advice line
- Cover for other health costs – some dental treatments, eye glasses
So while the costs may be significant, so are the benefits! In fact even when thankfully no member of your family suffers a serious illness, there are many opportunities to claim each year for other more minor health expenses.
At Lyons Financial Services, once you are convinced of the merits of having private health insurance, it is our job the find the best plan for you – the one with the most relevant set of benefits at the lowest cost. If you would like more information, please contact us.