With the rate of inflation putting pressure on the cost of living, you might be reviewing your costs and wondering how to change them.

From your weekly grocery shop to the amount you drive your car, nothing is off limits, and health insurance might be one of your outgoings under the spotlight.

In this blog post we answer your burning health insurance questions and shed light on what value it adds to your health and lifestyle.

How can I maximise the value of my health insurance?

If you have health insurance, you’ll know that having a policy can be beneficial when you’re waiting for treatment. Private health insurance allows you to elect for private treatment, in some cases helping avoid the waiting lists in a public hospital. In December 2021, there were 897,108 adults and children in Ireland on waiting lists.

Health insurance can be very beneficial by saving on your day-to-day medical costs such as your GP bill, physiotherapy, dentist visits and more. *

On top of these health insurance now gives cover or contributions toward benefits that help keep you healthy, such as gym membership, Pilates or yoga classes, fitness wearables, sports massage or even your sports club like your GAA club. *

Cover varies depending on plan selected. For exact cover on your plan refer to the plan Table of Cover and Membership Handbook. Terms and conditions apply.

How can I get value for my children’s health insurance?

Children can get great benefits from their health insurance, even if they are fit and healthy.

Health insurance plans offer various benefits for children like speech and language therapy. Irish Life Health offer virtual speech and language therapy to all their members on hospital plans via their online account. *

Similarly, to adults some health insurance plans offer contributions towards kid’s memberships in sports clubs such as GAA or athletics. *

Health insurance gives you access to faster diagnosis and treatment of your child’s medical issue.

Most of Ireland’s private hospitals offer a range of general and specialist paediatric services. The Bon Secours group offer a number of paediatric consultants while The Mater Private, Blackrock and the Beacon Hospital provide children’s services including overnight surgical treatment. Larger private hospitals offer accident and emergency services during daytime hours.

Health insurance gives your child access to these facilities when they need it most and gives you peace-of-mind that their needs will be looked after.

Cover varies depending on plan selected. For exact cover on your plan refer to the plan Table of Cover and Membership Handbook. Terms and conditions apply.

I’m fit and healthy, why do I need health insurance?

Health insurance isn’t only for when you get sick. In fact, health insurers are placing emphasis on supporting health and wellbeing through a diverse range of initiatives.

For example, Irish Life Health’s BeneFit2 Plan gives you cash back on healthy benefits like gym memberships, dieticians and fitness wearables.

Irish Life Health members can also access the personalised health and wellbeing app, MyLife. The app’s AI coach is the ideal companion for goal setting and fitness motivation and provides a real-time, scientifically calculated Health Score by tracking sleep, steps, sports, diet, activity, feelings and outlook. Irish Life Health members can also earn and use points to claim a variety of exciting rewards.

The MyLife app is available for free download at the Apple Store or Google Play.

MyLife is provided by Irish Life Financial Services and is not a regulated product.

What if I can’t afford health insurance?

The first thing to understand is that in Ireland, hospital consultations and treatment are not free.

Certain groups such as medical card holders may have their costs covered, but the majority of patients will be liable for fees including out-patient charges, emergency department charges, daily in-patient charges and long-term stay charges.

The charge for inpatient/day services is €80 per day up to a maximum of €800 in a 12-month period.

Your health insurance plan will cover the cost of your public hospital fees so that you don’t end up with a huge bill when you go home.

It is also important to review your policy to truly understand the benefits it offers, because there are a number features of your health insurance that could end up saving you money.

For example, Irish Life Health Digital Doctor service is available free of charge to all Irish Life Health customers, regardless of their plan.

Members can access unlimited consultations with a qualified GP either via the phone or video call and can even have prescriptions sent to their local pharmacy for fulfilment.

If you have a family, Digital Doctor could end up saving you hundreds in GP fees over the course of a year.

Irish Life Health also offers a range of other benefits that can help save you money while supporting your health and wellbeing.

For example, if you have back and neck pain, you can access consultations with a qualified physiotherapist using the Back Up service for a once-off fee of €50.

Irish Life Health’s Healthy Minds service also provides free mental health support to all members with 24/7 access to professionally trained counsellors to provide you with practical advice.

The benefits of even the most basic starter health insurance plan could save you money so it is really worth talking to a health insurance consultant to find a plan that suits you.

If you are concerned about the cost of your health insurance plan, it pays to review your plan before your next renewal date.

According to the findings of a Health Insurance Authority (HIA) survey, more than a third of respondents switched their health insurance provider in the last year.

Plans such as Irish Life Health’s Select Starter plan are available from as little as €10.39 a week, so speak to your health insurance advisor to find out if you can switch your plan to save.

Get expert health insurance advice from Hennelly Finance

Our financial advisors really understand the pressure of inflation and are dedicated to helping you find a health insurance plan that is tailored to your needs and your budget.

We have in-depth knowledge of the health insurance marketing and have access to a range of plans.

As a result, we can find a plan that works for you while helping you to save money and support your health and wellbeing.

To find out more about health insurance, get in touch with the Hennelly Finance team today on 091 670 123.

Healthy Minds is available on all Irish Life Health plans. Service provided by LifeWorks by Morneau Shepell. Available to age 16+ where clinically appropriate. Terms and conditions apply. Digital Doctor service provided by Medical Solutions Limited UK trading as Health Hero. Terms and Conditions apply. Irish Life Health dac is regulated by the Central Bank of Ireland.