Mc Gowan Insurance, Tullamore

29/04/2015

Tick Tock... tommorow is the last day to beat the Lifetime Community Rating Levy. Call us today on 057 9351661 to avoid having to pay the Levy!

30/03/2015

With just 4 weeks to go before Lifetime Community Rating comes into force, yesterdays Sunday Independent asks 'Should I Bite the bullet and buy health cover?. Take a look...

Anyone over the age of 34 who does not have private health cover has just over four weeks to buy it to avoid paying as much as €4,000 a year extra for their insurance.

24/03/2015

Interesting article in todays Irish Times - Is it worth getting private health insurance to beat age deadline?...If you're not sure how the new loadings will affect you then then this is well worth a read.

Those over 35 with no insurance on April 30th will face higher prices

18/03/2015

According to todays Indo..4 out of 5 adults are still unaware about the changes to health insurance that start on May 1st. Don't be left in the dark about it all - call us today on 057 9351661

Most people are unaware of new late-entry levies on health insurance polices, known as lifetime community rating.

13/03/2015

Today we will look at a few questions on lifetime community rating thatI have been asked during the week.

Q. If someone had private health insurance previously, but had a break in cover, do they still have to pay loadings?
A. Yes - but the amount of loadings will be reduced by the number of previous years health insurance cover they had.

Q Will I have to pay a loading for the rest of my life if I continue to maintain my health insurance cover?
A. Yes. The loading that applies when a person buys health insurance after 1st May 2015 will apply in subsequent years.

Q. Can an insurer make an exception for me from the LCR loading?
A. No, under LCR legislation, loadings cannot be waived by the insurer.

Q. What happens if i switch from one insurer to another?
A. Switching does not affect the applicable loadings. Loadings, if any, will continue to apply and insurers are required to supply each other with proof of an individual's prior cover.

Have a lovely weekend... and as for todays picture. You're all very welcome.

12/03/2015

So are there any exemptions from lifetime community rating loading?

Yes.

* There will be no loadings applied to those who have health insurance before 30th April 2015.
* If you have held health insurance in the past, this period of time will qualify as a credit.
* If you have received certain types of social welfare payments or have been financially dependent on someone who has received such payments, you may be entitled to receive credits.
* If you have lived abroad before 1st May 2015 and return to Ireland after this date, you have 9 months to take out health insurance without loadings.

11/03/2015

Lifetime Community Rating

Today we will look how the government will apply the loadings.
From the 1st May 2015, if a customer is purchasing a private health insurance policy for the first time at age 35 years or older they will pay a 2% loading on top of their premium for every year you are aged over 34 - up to a maximum of 70%.

Example:
Brian takes out private health insurance for the first time at age 40 on or after May 1st 2015. Brian will pay 12% more than someone who took out their cover before 1st May 2015.

i.e 2 x 6 years = 12% loading.

09/03/2015

Today we will look at who will pay lifetime community rating loadings.

Loadings will apply on health insurance policies that start on or after 1st May 2015. From this date, anyone who takes out private health insurance at age 35 or over, who has never had health insurance in Ireland before or has had a break in cover of more than 13 weeks, will pay a loading. The level of loading will depend on the age at which the person takes out the insurance.

06/03/2015

Happy Friday...we'll keep it simple today and just answer why the government is introducing Lifetime Community Rating (LCR).

The main reason that LCR is being introduced is to try and encourage people to purchase health insurance at a younger age. Encouraging more people to join the market at a younger age helps spread the costs of older or less healthy people across the market, helping to support an affordable premium for all.

Have a good weekend!

05/03/2015

What is Lifetime Community Rating?

On May 1st 2015 Lifetime Community Rating (LCR) will be introduced. But what exactly is LCR I hear you ask... well over the next few weeks I hope to walk you through LCR and how it will affect you and your family.
So what is LCR?

In Ireland, everybody is charged the same premium for a particular health plan, irrespective of age, gender and current or likely state of health. This is called community rating.

Under LCR, community rating is modified to reflect age at which a person takes out private health insurance. Late entry loadings are applied to the premiums of those who join the health insurance market at age 35 or over.

If an individual does not have health insurance before 1st May 2015 and is aged 35 or over, due to LCR their premium may cost more.

If an individual takes out private health insurance earlier in life, and retains it, they will pay lower premiums compare to someone who joins when they are older.

Tommorow we will look at why the government is introducing LCR.

If you have any questions or want to know more than please contact Hannah on 057 9351661

24/02/2015

The health insurance market is set for its biggest shake-up as insurers attempt to sign up thousands of people before new rules price them out of the market for ever. If you currently don't have health insurance and are confused as to whether this will effect you then call us today on 057 9351661. We are here to help

The health insurance market is set for its biggest shake-up as insurers attempt to sign up thousands of people before new rules price them out of the market for ever.

06/02/2015

Interesting article on the need for kids health insurance in todays Independent. Kids are still half price on Aviva Family Focus at €160 until March 1st. Call us today on 057 9351661

AS thousands of families receive their renewal notices, at what is the busiest time of the year for health insurance, many will be questioning the need for health cover.