Is fear the only reason you have health insurance?

Nearly half of us have private cover and a VHI reshuffle this week has put renewed focus on what we are getting for our money. Here are some of the reasons why Ireland is such an anomaly and the only way that things might change

Sally Leadbetter on health insurance renewal dilemma

Danielle Barron

VHI’s announcement this week that it planned to “streamline” its offering by getting rid of some of its many health insurance plans made sense on at least one front: there are over 340 different health insurance plans available to Irish consumers, a bewildering array that requires expert navigation — and serious money. For the 47pc of the population that have private health cover, this is often one of their biggest outgoings, after mortgage, childcare and car loans.

But is health insurance really worth having in this day and age? Ireland’s notorious two-tier health system is anomalous among our European counterparts and many would argue that we already pay for our public health service — beleaguered as it is — via PRSI contributions, so taking out private health cover is essentially paying twice.