Health insurance: 60% of policyholders selects wrong plans and unnecessarily pays more than 500 euros

Health is everyone’s concern, but it is also not good to waste money unnecessarily on health insurance.

A recent research report reveals that the vast majority of people who spend huge sums on health insurance due to excessive anxiety have no clear idea of ​​its terms or the package they receive.

Research shows that 60% of policyholders choose the wrong plan. As a result, they spend more than 500 euro a year unnecessarily, according to research by Total Health Cover.ie, a consultancy based on a policy review of 1,000 people.

Unnecessary health insurance payments can be used to pay other premium such as the vehicle’s home or insurance premium. Research suggests that action should be taken now to avoid these kin of overpaying.

Many people think that if they have insurance, they will bear everything. Many of the terms are disputed when it is finally claimed, and many people spend more on insurance than they need.

Research shows that three out of five insurance policyholders are like this. Therefore, they are not able to review their health care every year and take out insurance only when they need it.

Total Health Cover.ie MD Dermot Goode says that with the increased focus on this area, we are aware of inappropriate coverage in the insurance sector.

He says many seniors, especially those over 60, are still reluctant to change wrong policies because of fears of losing benefits.

Very old plans like VHI Health Plus Choice (now Advanced Care), Laya Essential Plus Access and Irish Life Health Level 2 Hospital still exists.

Not many people know that they can sign up for many corporate projects. Goode says most of these plans offer great value in terms of price and benefits.