Health care plan are they worth it?

mufc2009

I have just signed up to HSA Health Care Plan. It cost's me £10.00 a month for myself, partner and 5 year old daughter.

Because I am a Tesco employee I have already saved about £5.00 because its a benefit Tesco offer their staff.

So along with saving about a fiver a month could i cancel them and save the other tenner, or are they worth staying with?

My daughter has to wear glasses so I will more than lightly benefit with that option. The level that i am on i can claim 100% up to £65.

So should i stay with them or not?

Wutang_2

I really don't want to sound too harsh, but surely you can make this decision??

dunstonh

Personally, i think they are a waste of time. Although some people seem to do well out of them.

How is your life assurance? How is your retirement provision? How is your saving? How is your income protection?

All those things are more important but often you find people with shortfalls in those but have silly little insurances on things less important or less likely to claim on.

castle96

£120pa to 'cover' 3 people...

Glasses cover is £165 I think ? not £65
Dentist £120

all the rest of the cover is unlikely to be claimed on, but who knows.

£165 + £120 x 3 vs £120 annual premium.

May be wiorthwhile

Toothsmith

I always look at it that the point of these 'funds' is to make money for themselves.

They are businesses. They have staff, they have offices.

If they paid out more money than they took in, they would not exist. The very fact that they exist MUST mean they take in more money than they pay out.

As dunstonh said, some people may do very well out of them - if they claim for absolutely everything.

daveyjp

We've been in a scheme for years and it has served us well - dental work, optician, hospital stays have all been paid for in full.

A colleague has a dental plan and she had to claim last month following root canal work. The number of exclusions meant she was only insured for 40% of the actual cost - my health plan would have paid in full and it only costs a few quid more a month than her standalone dental plan.

castle96

HSA does NOT "pay in full"

All sections have upper limits . Glasses (my policy) was £165