YOUR QUESTIONS ANSWERED
‘I’m visiting the US, so do I need travel insurance? I have good health cover’
Q I already have good health insurance that has cover abroad of up to €100,000 per trip. We’re planning a US trip. So do we need to take out separate travel insurance?
Maria, Dublin 14
A The €100,000 benefit included on your health insurance policy is only designed for emergency medical cover while abroad. While this may be adequate for trips to Europe, it’s not sufficient for the US.
This emergency medical cover also doesn’t cover trip cancellation, flight delays or lost luggage.
Our recommendation is that you buy comprehensive travel insurance, either on a once-off basis or through a multi-trip policy that will cover your family for the next year. Most comprehensive travel insurance policies will include medical cover of up to €10m and include a range of extra benefits.
We advise anyone planning to travel abroad to engage with both their health insurer and their travel insurer beforehand to ensure they’re familiar with all aspects of the policy.
Disclose everything to them, including your destination, the duration of the trip, and what activities you’re planning. Have them explain exactly what’s covered and not covered, particularly regarding existing medical conditions or activities that could be deemed hazardous and therefore excluded from cover. Finally, have them explain exactly how you can register any claims to ensure no issues arise if you lodge a claim.
‘Is it worth accepting health insurance from my employer if I have to pay benefit-in-kind?’
Q I’m 29 and have just started a new job. Alongside a gross salary of €40,000 a year, my new employer pays for health insurance worth €1,200 a year. However, I may have to pay benefit-in-kind on this perk. I’m trying to figure out if the insurance is a perk worth accepting, as my rent is €1,500 a month and things are tight.
Sadhbh, Dublin 8
A Consider joining the company group scheme. In most cases, corporate schemes get the full 10pc discount on premiums, and get additional concessions such as waiting period waivers, which may allow your cover to begin immediately.
If you join outside of the company group scheme, any existing medical conditions will not be covered for five years. Also, when you factor in the tax-relief
at-source, which is up to €200, and offset this against any benefit-in-kind (BIK) charges, new members are usually 65pc better off joining health insurance through a company-funded plan. The allowance provided by your employer will cover the cost of a good mid-level hospital plan.
The alternative is to rely on the public system. While there are no charges for in-patient or day-case treatment, there’s a €100 charge for A&E treatment, unless you have a referral letter from a GP or an injury unit, have a medical card, or are receiving treatment for certain conditions. You may also face lengthy wait times for treatment. Private cover normally lets you get these more quickly at a private hospital. You can also select a preferred hospital, consultant, accommodation type, and time your treatment around family or work commitments.
‘I’m due to have a knee replacement but VHI is retiring my current plan’
Q I’m 78 and have been a VHI member for over 30 years now. They say my existing plan is being ‘retired’ and they’re offering me the Advanced Care Extra Day-to-Day scheme instead.
I’m due to have a knee replacement later this year and am concerned I might not be covered under the new plan.
Should I accept the new policy or should I consider switching insurer?
Tony, Limerick City
A Based on the details that you have provided, I think it’s likely that you are currently insured under the Health Plus Extra scheme (old plan B Options), which is being retired by the VHI from your next renewal date.
The good news is that the alternative plan on offer compares very well in terms of hospital coverage and overall benefits.
While it is slightly more expensive, at €3,543 compared to €3,400 for your existing plan, this Advanced Care Extra Day-to-Day scheme still provides full cover for major orthopaedic and ophthalmic procedures when carried out in standard private hospitals, which is important to you.
You will also still be covered for a private room (if available) in all standard private hospitals.
If you were open to switching health insurer, you could consider the likes of the Momentum scheme from Laya Healthcare. This plan costs €2,370 and fully covers these procedures in standard private hospitals.
If you were happy with semi-private accommodation in private hospitals (as many as five beds in a ward), you could consider the less-expensive Simply Connect Plus scheme from Laya, which costs €1,952 for an adult.
You can send your questions to g.monaghan@independent.ie