Friday 20 October 2017

While these plans are very attractive in terms of cost savings, consumers need to understand that the lower the cost, the higher the level of risk being assumed by the member, Mr Goode said.

A family of two adults and two children (aged 8 and 12), they should consider the following:

While these plans are very attractive in terms of cost savings, consumers need to understand that the lower the cost, the higher the level of risk being assumed by the member, Mr Goode said.

The plans listed above all carry significant excesses for each admission to private hospitals and not all hospitals are covered on every plan.

For example, the Glo Net Most 300 carries a €300 excess for all overnight admissions to private hospitals (€50 for day-case) and a limited number of public and private hospitals are excluded from this plan.

The Aviva plan carries a €150 excess and likewise, this plan covers most but not all hospitals.

Co-payments apply to certain procedures in private hospitals such as listed orthopaedic procedures.

These can be as high as €2,000, or 40pc of the hospital cost, as per the VHI plan.

There are plans with higher excesses which will deliver further cost savings, but these are not recommended as you are pricing yourself out of private hospitals which could cost you more in the long run, Mr Goode said.

"Remember, a private hospital is the only place you're guaranteed to get your accommodation preference such as a private or semi-private room," he said.

For cash-strapped families who are trying to maximise their cost savings, these are well worth considering.

Irish Independent

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