Private health insurance has many important benefits so, yes, it is really worth considering if you are living and working in Ireland.

While Ireland’s public health care system offers exemplary care, it is under pressure. Private health insurance can allow you to access private healthcare which can mean faster treatment, reduced waiting times, private rooms, and more choice of hospitals and specialists.

Here, we weigh up the pros and cons of private health insurance in Ireland so you can make an informed choice about whether private health insurance is the right choice for you.

Table of Content

The pros of having private health insurance

There are numerous advantages to purchasing private health (sometimes referred to as just health insurance) in Ireland.

Here are some of them:

Private health insurance can cover the cost of accessing private healthcare options, such as private consultant visits, tests and scans, and private hospital accommodation if you need to be admitted to hospital.

Being able to access private out of hours and minor injury clinics can also mean that you will be assessed and treated more speedily in a non-urgent medical emergency.

With lengthy waiting lists a feature of the public health system in Ireland, having a private health insurance policy can be a way to access healthcare more speedily.

It can significantly reduce waiting times for elective procedures, specialist consultations, and diagnostic tests (like MRIs or CT scans), which can be very long in the public system.

Private insurance allows you to choose your own medical consultant and decide whether you want to be treated in a public, private, or high-tech hospital.

This means that you have a wider variety of healthcare options as it gives you a wider choice of consultant and/ or hospitals.

Many policies cover private or semi-private rooms in hospitals, offering more comfort and privacy during your stay.

Having the option of private or semi- private accommodation can mean that you face a reduced risk of infection and get better sleep and rest, leading to improved recovery times.

Health insurance is a relatively affordable way to cover unexpected healthcare costs, for inpatient accommodation and treatment, diagnostic procedures and scans, and for elective and preventative procedures.

Private healthcare costs can be prohibitive at a time that is already stressful. Having a private health insurance policy can provide financial security and peace of mind, knowing you are covered in case of an unexpected medical emergency or illness.

Policies often include benefits not typically covered by the public system. This can include:

  • Outpatient expenses like GP visits, physiotherapy, dental, and optical care.
  • Maternity benefits, including private hospital stays and consultant fees.
  • Mental health services and alternative therapies.
  • Health screening.

Many private health insurance plans include benefits, such as mental health apps, women’s health benefits, pregnancy care, and executive health screening which may be of interest to you, depending on your stage of life.

Health insurance may also provide access to health services such as online GP consultations, insurer provided clinics, such as VHI 360, and counselling as standard.

In Ireland, tax relief is automatically applied at source by the insurer, which reduces the gross cost of your premium.

You may also be able to claim an income tax refund each year on healthcare spending that is not covered by your private health insurance which can further reduce your annual spend.

The principle of open enrolment means that Insurers cannot refuse to provide you with a policy, regardless of your age, gender, health status, or medical history.

Insurers are also bound by the principle of lifetime cover, which means that once you are a customer of a health insurance company and you continue to pay premiums, they cannot refuse to continue your cover no matter how many claims you make except in very limited circumstances.

The cons of having private health insurance

The main con is the cost which can be staggeringly high, depending on the health insurance plan and provider that you choose.

It is possible to pay for health insurance annually but most people pay a monthly premium and, in recent years especially, these have risen quite dramatically. 

If you are under the age of 26 you will be eligible for a reduced health insurance premium as a young adult, and children’s plans are usually 50% of an adult’s price. Kids even go free with some plans, although there are conditions attached.

With all that being said, there are also ways to save on an adult’s premium while still enjoying the peace of mind that having health insurance brings.

Cost of health insurance

Health insurance can be very expensive, depending on the level of cover and health insurer that you choose. Monthly premiums can be a significant expense especially if you first take out a policy after the age of 35 and face a lifetime community rating (LCR) loading.

Health insurance plans can be complex, with a wide range of benefits, exclusions, and different levels of cover. It can be challenging to understand all the terms and find the best policy for your needs.

However, there are ways to save on health insurance while still getting great cover and benefitting from the peace of mind that having private health insurance brings.

All of the major health insurers in Ireland offer plans for those on a limited budget. These entry level plans usually offer limited cover for outpatient expenses and semi private hospital accommodation in a public hospital.

Health insurance plans that offer cover for inpatient hospital treatment must also cover:

  • Day care and hospital outpatient treatment
  • Convalescence benefits
  • Maternity care benefits
  • Mental health inpatient benefits and substance abuse treatment benefit.

An excess is the amount that you must pay before your health insurer pays a contribution towards your treatment.

Some health insurance plans offer lower premiums in exchange for you paying a higher upfront cost yourself and this can be a way to save. 

Just be aware that you may be faced with a bill for your excess amount should you be admitted to hospital so ensure that it is an amount that you are able to pay.

There is a wide selection of health insurance plans on the market and some offer generous benefits that may not apply to you.

For example you may not be at the stage of life where high levels of cover for cardiac, orthopaedic, maternity or fertility benefits, or paediatric benefits are of interest to you.

Prioritising between higher levels of cover for inpatient versus day to day cover may also be a way to save on health insurance and bring down those high monthly premiums.

Get a tailored health insurance quote

Weighing up the pros and cons associated with private health insurance shows that it is absolutely worth the cost to have the many benefits of private health insurance in Ireland.

Compare Insurance is Ireland’s first impartial insurance comparison website. We can help you to navigate between the many options available and save you money when it comes to private health insurance.

Get a tailored health insurance quote today and see your options from all of Ireland’s leading health insurance companies to start saving.

Author: Séamus Ó Doirín | Chief Insurance Editor

Séamus Ó Doirín is a Donegal based QFA who has been writing about insurance since 2020. His main focus is getting people the best value for insurance in the Irish market. His writing covers all areas of insurance and is a valuable part of the Compare Insurance team. 

Tailored Health Insurance Quotes

We are Ireland’s first impartial insurance comparison website.

Related Topics

> Private Hospitals
> Health Insurance Overview
> Cost of Health Insurance in Ireland
> Health Insurance Family Plans

Recent Articles

Get the lowest premiums by comparing all the policies in the Irish market

Choose your insurance type, fill out the relevant assessment and speak to a central bank regulated insurance advisor