{"id":293615,"date":"2026-01-20T08:34:06","date_gmt":"2026-01-20T08:34:06","guid":{"rendered":"https:\/\/www.europesays.com\/ie\/293615\/"},"modified":"2026-01-20T08:34:06","modified_gmt":"2026-01-20T08:34:06","slug":"split-your-cover-check-for-young-adult-rates-the-irish-times","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/ie\/293615\/","title":{"rendered":"\u2018Split your cover, check for young adult rates\u2019 \u2013 The Irish Times"},"content":{"rendered":"

\u201cJanuary is the busiest time for health insurance, with 500,000 customers due to renew their cover,\u201d says Dermot Goode, a health insurance expert with healthinsuranceireland.ie<\/a> . \u201cBy the end of March, nearly half the market or 1.25 million members will have renewed their policies.\u201d<\/p>\n

He says \u201call insurers have increased their rates, impacting nearly all plans\u201d, with some increases amounting to 27 per cent.<\/p>\n

He warns that people could find themselves paying far more for less cover if they don\u2019t act quickly.<\/p>\n

The first step is \u201cto engage by phone with your existing insurer.\u201d Goode advises. \u201cChallenge them to check their full suite of plans to find you an alternative option with similar benefits at a lower cost. Don\u2019t be afraid to disclose your exact budget, for you, your family, or even your business.\u201d<\/p>\n

Whatever alternatives they suggest should be explained clearly and compared with existing cover to get a sense of what benefits are being reduced or changed on the new scheme. <\/p>\n

\u201cDon\u2019t be afraid to take on a small excess for each private hospital stay and also, consider splitting your cover,\u201d Goode says. \u201cThis means that each family member can hold different plans to suit their needs whilst all remaining on the one policy.\u201d <\/p>\n

He suggests that if people are unsatisfied with the alternatives offered then they simply repeat this process with the other health insurers. <\/p>\n

\u201cOnce again, tell them the name of your current plan and your target budget for the coming year and ask them to check all of their plans to find you something similar that matches that budget,\u201d he says.<\/p>\n

\u201cEven if your intention is to auto-renew on the same level of cover, we recommend that you still contact your existing insurer to confirm that there have been no changes to your benefits over the past year. Many consumers get caught out as certain benefits have been changed and if they don\u2019t read the small print, they will end up paying higher premium for less cover.\u201d<\/p>\n

People with young children should, Goode says, check for any discounts or specific deals which are usually available at this time of year. \u201cIf you don\u2019t phone and engage with the insurance companies, often you will not learn about these deals and you will end up overpaying unnecessarily,\u201d he warns. <\/p>\n

He stresses that people should not be put off by the number of plans and confusing terminology and if they are struggling they should seek out a trusted friend or family member join them on the call to make sure everything is covered in full. <\/p>\n

Ten steps to save money 1. Take on a small excess per claim in private hospitals <\/p>\n

Typically, this might be \u20ac50-\u20ac150 per claim but it could reduce your costs by 10 per cent or more. In the majority of cases, these excesses are per claim and not per night. <\/p>\n

2. Split your cover<\/p>\n

For example, older family members have different needs compared to young children. Therefore, you should select appropriate cover to suit each person insured on the policy.<\/p>\n

3. Check for young adult rates<\/p>\n

If you are paying the full adult rate for your 18-20-year-old dependents, you need to take action immediately as you\u2019re not getting a \u201cyoung adult\u201d rate. For example, an 18 year old on the Laya Flex 250 Explore scheme will be charged \u20ac2,217, which is the full adult rate. Consider moving them to the Laya Inspire Plus corporate scheme at \u20ac888 for better overall cover and huge savings.<\/p>\n

4. Do you all need a private room? <\/p>\n

If you\u2019re under pressure to reduce costs, consider opting for semi-private cover in private hospitals. Your hospital access will be the same and you will always get the semi-private room. This tactic could also reduce your costs by about 10 per cent, depending on the plan.<\/p>\n

5. Check out the corporate plan options<\/p>\n

These plans are designed specifically for company-paid employer schemes, but they are available to all consumers. They are well-priced with excellent cardiac and outpatient cover included. VHI has nearly 70 \u201cPMI\u201d corporate plans; Laya has a range of \u201cInspire\u201d schemes; Irish Life Health (ILH) has launched a new range of \u201cHealth Action\u201d schemes; and the new insurer, Level Health has launched two \u201cPlan Pro\u201d corporate schemes.<\/p>\n

6. Avoid the most dated schemes<\/p>\n

If you\u2019re on the same plan for five years or more, you could be overpaying by thousands of euro. The following plans include good cover but are very expensive and any members on these schemes should review their cover before their next renewal: <\/p>\n