AskPaul Ep 9 – Health Insurance For Children

Hi, and welcome to episode nine of Ask Paul.

Today, we’re gonna have a chat around health insurance and I suppose today’s video couldn’t probably come at a more important time. We see it often in media outlets talking about how bad the health service is in Ireland at the moment, and an awful lot of that is true.

We’ve an awful lot of people on waiting lists, an awful lot of people in trolleys trying to get into a hospital, and we’ve got the worst access to emergency care in the whole of Europe, and that was a recent survey done that was published by the Irish Times. So again, it’s really important that people have access to health insurance because if you have health insurance, you’ve got a better chance in getting looked after. It’s not an ideal situation. I don’t think it’s correct. I do think the government should be looking after people more, but unfortunately, you have to look after yourself in this situation and make sure you have the right cover in place.

So how do we get cover? Well, we’ve had a few queries over the last couple of days in relation to children’s cover. One particular question kept coming up. “Paul, can we actually insure our kids “without insuring ourselves?”.

Unfortunately, the short answer is no, you can’t insure your kids without insuring an adult. The reason that’s there is that it’s a contract, a legal contract, and a person over 18 years of age must sign for that contract, so in light of the situation, you have your adult insured and then your children insured thereafter. You don’t have to have both adults on it, though. You can have one parent covered before the kids get on cover.

We’ve looked at this to try to bring in a case study for you guys, make it more relevant, we’ve looked at a family plan and done a bit of research on that today. Again, everyone’s case is gonna be different, there’s a number of providers in the marketplace at the moment so we have Irish Life Health that took over Aviva, we have GloHealth, we have Laya Health and we have the Vhi, who is the longest in the business at the moment.

Each one of those companies will have their own individual plans and they kind of shine through best in some instances so it’s important to speak to either a financial advisor or health insurance specialist about what plan best suits your needs for your family so if you want cashback on GP visits, do you want to have, for argument’s sake, Vhi came out with fertility treatment there recently, which has been a big success for them for some people. So again, it’s very important that you chat to somebody, find out what you actually want from your health insurance.

Today’s case study, we’re gonna look at a family, so we’re gonna look at maybe one adult and two or three kids and see which plan is the best. From doing my research, we looked at all the plans that were in the marketplace and we came up with Laya Health, Laya Health is the best one at the moment from an affordability point of view.

So, what does that mean?

You can actually get access to the Laya Health plan for one adult and up to as many children as you have, so once you pay for one child, which is 260 euro a year, then the second, third, fourth, fifth child, subsequent children are free from one year and that’s a really, really good offer.

You have to have an adult insured, as we just discussed, and that cost is approximately 500 euro. So just to recap, the adult is 500 euro, and the child is 260 euro, so just under 800 quid a year and you get cover for one adult and as many children as you want. The 260 euro for one child covers the second, third and fourth child-free, which is a really good way of getting access to health insurance for kids at the moment. It’s only a year, but again, next year there’ll be probably other offers in the marketplace and you can move around.

If you have any further questions, send them to questions@www.askpaul.ie

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