Not everyone can afford or even wants health insurance. But for those who do - or those who worry affordability will force them to drop theirs - this episode of Better with Money is your ultimate guide to saving at a time of stringent price hikes. Dermot Goode has been working in the area of health insurance for over 35 years and what he doesn't know about the industry isn't worth knowing. He explains how many people are on outdated, overly expensive plans and could save by switching within the same insurer. Families can split cover for different members to reduce their bills. There are key phrases you can use when on the phone to insurers to get the best deals. Dermot explains community rating, waiting periods, age loadings from 35, how pre-existing conditions are assessed from medical evidence, and the two-year “upgrade rule” for extra benefits. He warns against low-value entry-level plans and high-excess products, outlines what mid-level and corporate plans cover, and highlights children’s deals, young adult rates, and add-ons like dental plans and HSF cash plans for outpatient costs.
Presented by Aideen Finnegan.
This episode is brought to you in association with Standard Life.
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