The Health Insurance Authority (HIA) is urging consumers in Galway to proactively review their cover before it automatically renews early in the year.
We are now in the peak season for health insurance renewals in Ireland, according to the HIA, with over 50% of the 2.54 million consumers who have health insurance renewing.
Unlike other insurance, health insurance cover automatically renews. This is so that consumers are not left with potentially having to re-serve waiting periods if they forget to renew and have a break in cover of more than 13 weeks.
There are more than 334 plans available on the market, with frequent changes to benefits and pricing making it worthwhile to shop around.
For this reason, the HIA says now is the time for Galway consumers to take action and secure good coverage rather than letting their current insurance roll over.
Brian Lee, CEO of the HIA, advised, “As we are now in the New Year and the peak renewals season, it is the perfect time for people in Galway to reassess their health insurance.”
“The Health Insurance Authority has launched its new and improved Comparison Tool making it easier than ever for consumers to shop around and compare plans, understand benefits, and find the best value and cover for their needs.”
“Renewal letters include important details about any price or benefit changes to a consumer’s current plan. It’s a key source of information and should be reviewed before making a decision, especially if a consumer’s health needs or financial situation have changed.”
“Galway consumers can move to any plan on the market at their renewal date, and switching plans doesn’t mean starting over. If you keep continuous cover, your existing waiting periods are protected.”
“You won’t have to serve them again when moving to a plan with similar benefits, and we encourage everyone with health insurance to review their policy each year to ensure it suits their current lifestyle and health needs.”
As this is peak renewal period, the HIA encourages consumers use their new comparison tool, available for free on the HIA’s website, as an important first step in receiving their renewal notification, allowing time to shop around.
Other tips for people seeking better health insurance include:
- Shop around – older plans may offer less value than newer ones, so comparing plans can lead to savings. Corporate plans (which are available to all, not just employees) may offer similar benefits at a lower price. Consumers should ask their insurer about these options
- Increase hospital excess – if you’re in good health, opting for a higher excess (the amount you pay towards a claim) can reduce your premium. Make sure the excess is affordable for you if you need to claim.
- Reduce cover for benefits you don’t use – for example, if you have a medical card or don’t use certain benefits (like day-to-day outpatient cover), consider a plan with lower cover in those areas. This can lower your premium without compromising essential hospital cover.
- Split Cover for Family Members- Each person on a policy can have different cover to suit their needs. For example, young adults or children may benefit from tailored plans or discount.
- Review Your Needs Annually- Health needs change over time. Regularly assess your cover to ensure it matches your current requirements and stage of life.
Lee concluded, “If your cover has auto-renewed, please remember that you have a 14-day cooling-off period during which you can still change your plan.”
