Sometimes more choice does not benefit consumers, and health insurance is a prime example
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Then Vivas came to town but that was acquired by Aviva, which left in 2016 with Irish Life taking over while also acquiring the 51 per cent of another provider, GloHealth it did not already own.Earlier this year Aviva announced it was coming back. Confused? How could you not be and as with many things, consumers have not seen much benefit from all the chopping and changing.
Without knowing too much about the nature of their policy or the state of their health, it is almost certain they are wasting money and could find a similar level of cover – either with their existing provider or with one its rivals for around €1,500 a year, amounting to a gross saving of €4,000 each year which equates to two Bonanza Budgets.
In the meantime, it plans to explore what can be done “on a voluntary basis” to make the market work better for consumers. It found that 56 per cent of those questioned preferred health cover as against 49 per cent for both pensions and four-day weeks. To put that more simply, you do not lose the cover you already have by moving from one company to another. If the plan on the table from Company B offers enhanced cover, you will most likely have to wait for that to kick in, but whatever you had, you keep.
Health-Insurance-Authority Vhi
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