- Split cover is a great way of reducing your costs.
For example you could leave the adults on a mid-range plan and put younger children on a lower level plan. - Do the math before buying ‘Day to Day’ cover
Before adding this benefit to your cover, compare your average annual expenditure on routine medical expenses to the cost of including this additional cover in your plan. The average refund you receive with this cover is 50%, therefore it may not be a cost-effective add-on. - Pay the full amount for the year to avoid surcharges.
Laya Healthcare charges an additional 3% for instalment payments. For example, on the Essential Plus scheme, you could save €103 per annum for an average family policy by paying your full premium up front. - Take an ‘excess option’ for a lower premium
Most providers have plans with excess options for private hospitals (per hospital stay). This can lower your premium by approximately 22%, depending on the plan in question. - Avail of student rates
Students can save up to 66% on the current adult cost. Remember, you must request this discount from the insurer, you don’t get it automatically. - Review your cover each year
Always remember to review before you renew when it comes to your health insurance. By allowing it to renew automatically, you are accepting any reduced benefits and new terms and conditions which your provider has decided to add to your plan. Health insurance providers may not necessarily spell out the full effects of these changes. With over 200 plans on the market and special offers regularly available there is great choice available for health insurance. In such a complex environment, it is important that you undertake a review and seek impartial advice.
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