A survey of the State's two health insurance companies by Consumer Choice has revealed that on cost alone, it is almost impossible to assess which is cheaper.
"The Consumers' Association of Ireland is happy to see at least one competitor in the health insurance market. Even after just a year, the status quo has been broken and competition has fuelled innovation. In future, consumers can look forward to more variety in health insurance."
According to the magazine, VHI offers more hospital plans to subscribers. But the many variants and savings depending on the medical requirements of the subscriber make it difficult to assess which is best value. The magazine said customer service and access to information are also factors which must be considered.
Both company's operate a telephone information service. BUPA is cheaper at the lower end of the market, while VHI charges less for Plan E, its top of the range policy. "A core difference between the two is their attitudes to health. BUPA has a broader perspective, covering preventative healthcare and alternative medicine, which may be more attractive for younger subscribers. It also offers more extensive coverage for radiotherapy than VHI. However, VHI wins hands down for its support and information network that spans the country and it offers a wider choice of consultants and hospitals".
Families with students in full-time education do better with BUPA, as full-time students are charged the same rate as children.
