Family health

How to save money on your family’s health insurance

According to Cornmarket, the one area where families could save money is on their health insurance, without necessarily having to compromise on their coverage. Cornmarket, Ireland’s largest health insurance broker, has saved customers an average of €404* on their health insurance.

Here are some great tips to help you save money on your family’s health insurance:

Divide your coverage

It often does not make financial sense for all family members to be covered by the same health insurance plan. Did you know that each member can be insured on different plans while remaining on the same policy? This allows you to choose separate plans based on each family member’s individual needs and life stage, which could help keep your costs down.

Children’s offers

It is important to remember that young children will not be treated in some high tech hospitals. Therefore, a plan that provides coverage for these hospitals may not be suitable for a child. However, by placing children on a different plan that suits their needs, you may be able to reduce your costs. Also, it’s worth shopping around as some insurers offer children’s deals on different plans throughout the year.

Take an excess

The deductible is the first part of the claim that you pay yourself, the insurer pays the rest. Most deductibles range from €50 to €300. Plans that offer a higher deductible give you the opportunity to save money on your premium.

Young adult rates

Young adult fares have replaced student discounts and the good news is that the individual no longer needs to be in full-time or part-time education to take advantage of this offer. You can benefit from a young adult fare if you are between 18 and 25 years old or if you have a dependent who falls within this age range. However, it is important to note that not all health insurance plans offer these discounted rates for young adults. Therefore, you should ask your insurer/broker for the best plan for young adults that suits their needs.

Compare insurance costs with common medical expenses

Being able to claim GP, physio, dentist and specialist consultant fees might sound like a good idea for your health insurance, but is it really costing you? Work on the math first. Calculate what you can claim against the extra cost of your premium for this type of coverage.

Review your coverage annually

If you’ve had the same health insurance plan for years, it’s worth looking into. Auto-renewing your current plan may require you to pay more than you should. As new plans are released by insurers every year, Cornmarket’s health insurance comparison service can help you find a new policy that gives your family great cover for less!

Dermot Wells, Head of General Insurance at Cornmarket, comments: “It is important to review your cover every year to ensure that you are not paying too much for your cover and that your plan continues to meet your needs. Insurers can make changes to your existing plan and unless you review your coverage or read your documents thoroughly, you could be caught off guard. Additionally, new plans are developed each year, some specifically for business, but you are entitled to access, many of which may offer greater value and benefits. By reviewing your coverage, you’ll have peace of mind knowing you’re on the right plan to meet your needs and budget.

Cornmarket has a unique online health insurance comparator which makes finding the right health insurance policy as easy as possible. It searches all the health insurance plans in the market and identifies the savings you can achieve.

To find out more about Cornmarket’s health insurance comparison service and to get a quote, visit their health insurance page or call (01) 416 0286.


*Average savings based on 2,061 customers who reviewed and changed their coverage through Cornmarket between October 2020 and October 2021. Source, Cornmarket November 2021.

Cornmarket Group Financial Services Ltd. is regulated by the Central Bank of Ireland. Member of Irish Life Group Ltd., part of the Great-West Lifeco group of companies. Phone calls may be recorded for quality control and training purposes.