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Cash Plans play growing role in provision of healthcare in Ireland

Monday 9th January 2012

HSF Health Plan, the health cash plan provider based in Ennis, Co Clare has today confirmed that there will be no increase in its premiums in 2012. The commitment comes amid significant price hikes by the private health insurers and warnings of possible further increases in the coming months.

According to Roy Smith of HSF Health Plan, it’s believed that up to 75,000 people cancelled their private health insurance cover in 2011 due to the cost. This trend is expected to continue in 2012, which he says is worrying. “We want to reassure Irish families considering giving up their private healthcare cover that there is an affordable and trustworthy option on the market that can help them manage the cost of their unavoidable everyday health expenses. Unlike any other insurer, HSF Health Plan delivers the benefit when and where it’s most needed,” he said.

While a health cash plan doesn’t pay private hospital or operation costs, it gives money back for a wide range of everyday healthcare costs including GP, prescription, consultant, dental, optical, physiotherapy and chiropody, along with grants for hospital stays, birth grants and worldwide accident cover. In addition, all HSF Health Plan policy holders have free access to a qualified doctor, 24/7 all year round, through a GP telephone advice line.

Smith continued: “Cash plans are playing an important and growing role in the provision of healthcare in Ireland. We currently cover over 100,000 Irish people and over 900 organisations in Ireland from the voluntary, public and private sectors also offer HSF Health Plans to their staff and that number continues to grow.”

In 2011, HSF Health Plan claims totalled €9.3m in Ireland. The most popular claim category being Dental and Optical, which accounted for almost one third of the total followed by Specialist and Investigations at 16%. Claims for GP & Prescription Charges accounted for 14.5%.

Premiums for an HSF Health Plan start at €9.50 per month that covers the contributor, spouse or partner and dependent children up to the age of 21.

Two plans are available with a range of payment options. HSF’s One Scheme is designed for individuals who wish to claim up to 100 per cent refund on their healthcare expenses. The monthly payments start from €14, rising to €56 for maximum cover. The second, the HSF Family Scheme, is designed for families and monthly payments range from €9.50 to €81 per month. Policy holders can either pay through a direct debit from their bank or through the payroll deduction system.

HSF Health Plan is the trading company of the charity, the Hospital Saturday Fund, which has been operating in Ireland for over 60 years and is regulated by the Health Insurance Authority (HIA) and the Department of Health and Children. The company helps policy holders budget for their everyday healthcare costs by making small regular contributions to the Plan.

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