Employers can also gift Healthcare Coin© Vouchers to their employees. Healthcare Coin Vouchers are not a cash benefit so, subject to Revenue rules, qualify as a non taxable small benefit (up to €1,000 per year) that can be gifted annually to each employee. Contact one of our representatives at contact@letsbuyhealthcare.ie or phone us on 01 5563066 and we can take you through the simple steps.
What are
Healthcare Coin© Vouchers?
A new way of self funding the cost of private healthcare.
Self Funded Private Healthcare
- Your OWN healthcare fund
- You decide HOW MUCH you can afford
- You decide WHEN to top up
- Then USE when you need
- On ANYONE'S private healthcare
- Using one of our QUALITY participating private healthcare providers
How do Healthcare Coin Vouchers work?
Typical Member Profiles
Tom
Tom doesn’t have any private health insurance. He joined Letsbuyhealthcare and builds up the family private healthcare fund by buying, when he can, Healthcare Coin vouchers. So far he has bought 34 (a value of €1,700) and is aiming to have 60 (€3,000) by the end of next year. That’s important to Tom because his wife, although only 24 years old, has been diagnosed with the early development of a problem in her left eye and by the end of next year will probably need an operation.
Richard
Richard didn’t have any private health insurance. He joined Letsbuyhealthcare and by buying Healthcare Coin vouchers, one a week, for two years his fund accumulated to €2,600. He tore the cruciate ligament in his knee playing football and because he works as a van driver he was in big trouble. However he had surgery privately, and quickly. Used up some of his Healthcare Coin vouchers, and was back at work in no time.
Harriet
Harriet has just finished her degree and works for a company that joined Letsbuyhealthcare to buy Healthcare Coin vouchers for their employees. It’s a great perk and they are a great company to work for. As well as her own Healthcare Coin vouchers the company will put 20 Healthcare Coin vouchers into her Letsbuyhealthcare electronic wallet every year. Because Healthcare Coin vouchers are under the small benefits scheme Harriet isn't even taxed on that €1,000 benefit.
Private Health Insurance
Self Fund with Healthcare Coin Vouchers
Private Health Insurance
- You choose cover from a selection of health insurance plans. Each plan has a different price.
- Regular payment is made to maintain cover. Usually monthly or annually.
- The level of medical cost that will be covered, and paid by the insurer, is set in advance of treatment.
- Insurance cover is for persons named on the policy.
- Complex, high cost, medical treatments can be covered.
- Tax relief on private medical insurance premiums.
- Premiums are 'pooled' in an overall insurance fund to meet claims costs.
- Previous conditions or illnesses, your age and whether you were previously insured can affect your cover.
- A claim is made to the insurer at the time of treatment to check your eligibility for payment.
- The Healthcare Provider you use must be qualified and registered with the insurer.
Self Fund with Healthcare Coins
- Each Healthcare Coin Voucher costs €50 and is for private healthcare that costs €50.
- You can buy any number of Healthcare Coin Vouchers at any time.
- You meet the cost of your healthcare at the time of treatment.
- Your own Healthcare Coin Vouchers can be used for anyone's private healthcare.
- You rely on the Public Healthcare System for complex conditions and treatments.
- Tax relief on private health expenditure.
- Your Healthcare Coin Vouchers are for your own use.
- No personal conditions or exclusions apply when buying or using Healthcare Coin Vouchers.
- No claims. Customer instructs Letsbuyhealthcare what is to be done with their Healthcare Coin Vouchers at the time of treatment.
- The Healthcare Provider you use must be qualified and registered with Letsbuyhealthcare.
Healthcare Coin Vouchers©
Healthcare Coin Vouchers
and Employers
Frequently Ask Questions
What are Healthcare Coin Vouchers?
Each Healthcare Coin Voucher is worth €50 for use on private healthcare (only). If you prefer your Healthcare Coin Vouchers can be sent to you in paper form on a Healthcare Coin Voucher book. An e-record of your Healthcare Coin Vouchers will always be held in your Membership Account on the Letsbuyhealthcare website. Healthcare Coin Vouchers are collected and used when you or your family have a need for private healthcare. Your employer can also buy Healthcare Coin Vouchers for you. Vouchers for you
How much are they and how many can I purchase?
Each Healthcare Coin Voucher costs €50, and you can buy as many as you like. There is no limit. Note: If you purchase €10,000 or more Healthcare Coin Vouchers in a single transaction you will be required to submit proof of identity and proof of address in accordance with Anti-Money Laundering regulations.
Do Healthcare Coin Vouchers have an expiry date?
No. There is no expiry date. They will NEVER have an expiry date.
What can they be used for?
To pay for healthcare. Healthcare is defined by Letsbuyhealthcare as the prevention, diagnosis, alleviation or treatment of an ailment, an injury, an infirmity, a defect or a disability. So, for example, if a medical treatment normally costs €500 and you have accumulated 10 Healthcare Coin Vouchers (or a total value of €500) then you can use your Healthcare Coin Voucher balance to meet the full cost of that treatment. Your healthcare provider does NOT have to be on Letsbuyhealthcare’s website and Healthcare Coin Vouchers can also be used for public health charges.
Can I withdraw or 'cash in' my Healthcare Coin Vouchers if I decide I don't need them?
No. When you buy Healthcare Coin Vouchers you are committing to using your Healthcare Coin Voucher fund for private healthcare. It cannot under any circumstances be cashed in for any purposes other than for private healthcare.
Why would I need to buy Healthcare Coin Vouchers – I could create my own fund?
You can of course, but with Healthcare Coin Vouchers you directly connect to a custom developed online medical provider network and make a 100% commitment to accumulating your own dedicated healthcare fund for you and your family. Your employer can also help - ask them about the small benefit exemption, tax relief and Healthcare Coin Vouchers. It’s about preparing for your family’s future healthcare costs - NOTHING ELSE
Can I use my Healthcare Coin Vouchers for another person’s private healthcare?
Yes. You can opt to use some, or all, of your Healthcare Coin Vouchers to pay for anyone’s healthcare – anyone in your extended family, a neighbour or even a stranger. That is provided the person who receives the benefit either becomes, or is already, a Member of Letsbuyhealthcare.
Do I have to register everyone in my family when I buy Healthcare Coin Vouchers?
No. We only need to register someone as the owner of the Healthcare Coin Vouchers. The owner decides how much, on whom and when Healthcare Coin Vouchers are used.
Can anyone else access or decide on the use of my accumulated Healthcare Coin Vouchers balance?
Absolutely not. Your Healthcare Coin Vouchers are your property, securely held, for you alone to decide how they are used for future healthcare purposes. You are accumulating and using your own personal healthcare fund – as you see fit for your own circumstances.
If I already know I will need treatment, or have had treatment in the past, does that matter?
No, it doesn’t matter what you or your families age, sex, health history or current health condition is. There are absolutely no pre-conditions. You can buy and collect Healthcare Coin Vouchers to prepare for any treatment, care or operation in the future or to meet a current healthcare need.
Does the type of healthcare treatment matter?
No. Any healthcare delivered in an inpatient, outpatient, day-care or community setting – the only requirements are that the expenditure falls within Letsbuyhealthcare's definition of healthcare.
Can a company buy Healthcare Coin Vouchers?
Yes. In exactly the same way as a family, an employer can buy Healthcare Coin Vouchers on behalf of the company for its employees. If you an employer we’d suggest you make contact with us and we can take you through the steps.
Do Letsbuyhealthcare charge a fee for Healthcare Coin Vouchers?
No. There is no fee or commission charged by Letsbuyhealthcare for Healthcare Coin Vouchers. The face value of all purchased Healthcare Coin Vouchers will be exactly the same value available to you to buy private healthcare.
How does Letsbuyhealthcare make money on Healthcare Coin Vouchers?
Indirectly. Healthcare Coin Vouchers facilitates the use of Letsbuyhealthcare’s self-pay service with private hospitals and other private providers. While Letsbuyhealthcare do not charge the consumer for either Healthcare Coin Vouchers or ‘Pay as you go’ Bookings we do have commission arrangements in place with private healthcare suppliers and providers. Letsbuyhealthcare’s income is exclusively from those commission arrangements with private healthcare providers – not from consumers or patients.
Can I use my Healthcare Coin Vouchers for non-healthcare purposes?
No. When you purchase Healthcare Coin Vouchers you fully commit to using them only for Healthcare. Unfortunately, they can’t ever be used to fix the boiler or to fund that holiday. You can use your Healthcare Coin Vouchers for any healthcare expenditure provided it is within the Letsbuyhealthcare definition of healthcare.
Can I claim tax relief on Healthcare Coin Vouchers?
At the time of using the Healthcare Coin Vouchers for healthcare expenditure you may qualify for tax relief on medical expenses. Provided of course your expenditure meets the Revenue Commissioner’s standard rules and conditions for tax relief on health expenditure.
Are Healthcare Coin Vouchers a type of private health insurance?
No. Healthcare Coin Vouchers are NOT private health insurance. Health insurance has an annual premium and provides cover in accordance with the product selected from a chosen insurer. Healthcare Coin Vouchers can be purchased at any time for any value amount and provide a personal private healthcare fund that can be used up to the limit of the total value of Healthcare Coin Vouchers purchased.
I don’t have private health insurance can I still buy Healthcare Coin Vouchers?
Yes. Your accumulated Healthcare Coin Vouchers will give you your own fund to use, as you like, towards future private healthcare needs.
I have private health insurance can I buy Healthcare Coin Vouchers?
Yes. You can supplement your private health insurance by also having your own Healthcare Coin Voucher personal private healthcare fund. Some people may wish to do so in order to allow for future private healthcare costs that are not covered by their private health insurance.
Can I buy Healthcare Coin Vouchers instead of private health insurance?
Yes. If you were considering buying health insurance you could opt, instead, to build up your own personal private healthcare fund using Healthcare Coin Vouchers to meet the future cost of your private healthcare..
Can I top up my accumulated Healthcare Coin Vouchers if I ever needed treatment?
Yes. If, for example, a private healthcare treatment costs €1,000 and you had an accumulated Healthcare Coin Voucher fund of €800 you can pay the €200 difference by way of an additional payment at that time (or, of course, by buying additional Healthcare Coin Vouchers).
Do private health providers have to be Letsbuyhealthcare participating providers?
No. Healthcare Coin Vouchers can be used with any medical provider public or private. Provided always that the medical supplier/ doctor/clinic/hospital is accredited by a recognised medical accreditation body.
If I need a healthcare treatment do I have to make a claim or how does that work?
There is no ‘claim’ process and no forms. Nothing like that. After all it’s your own fund. Letsbuyhealthcare will pay the healthcare provider, on your behalf, out of your accumulated Healthcare Coin Voucher fund. You simply select a medical provider and book the treatment you need on the Letsbuyhealthcare website. Or if the provider or treatment is not on our website just tell us. Once we’ve validated that it’s actually you, we will make payment directly to the hospital, doctor or provider of your choice using your Healthcare Coin Voucher fund balance.
Can I set up a regular purchase of Healthcare Coin Vouchers e.g. weekly, monthly or annually?
Yes. You can buy Healthcare Coin Vouchers on a once off basis and/or set up a regular purchase as you wish. There are no set annual renewal dates. You decide what suits your pocket and when.
How do I know the total value of all my Healthcare Coin Vouchers purchased or used?
You can log in at any time to your account on our website to check on your available Healthcare Coin Voucher fund balance using your Letsbuyhealthcare Customer number and password. If you prefer, we can also send you a Healthcare Coin Customer Voucher Book so that you can have your own paper record.
Can I buy someone a gift of Healthcare Coin Vouchers?
Yes. This is provided the person who receives the gift either becomes, or is already, a Member of Letsbuyhealthcare.
What happens to my Healthcare Coin Vouchers in the event of my death?
The value of any unused Healthcare Vouchers are never lost. They continue to rollover at the value that you paid during your lifetime and any unused healthcare vouchers on death can pass to your estate in the same way as your other assets. Your next of kin must become, or already be, a Member and our standard requirement that Vouchers be only used for healthcare will remain in place for them.
Can I pay my GP with Healthcare Coin Vouchers?
Yes. Provided always of course that the doctor is accredited by a recognised medical accreditation body.
Do I have to own Healthcare Coin Vouchers to use one of Letsbuyhealthcare’s providers?
No. Healthcare Coin Vouchers are a way for Members to prepare for the cost of private health. If you’d prefer you can select your preferred provider, and treatment, on the Letsbuyhealthcare website and either • book and pay your provider online by credit/debit card; or • simply book and then pay your provider later.
Are Healthcare Coin Vouchers a form of Crypto-currency?
No. Healthcare Coins Vouchers are not a form of crypto- currency. They are not traded on any financial or other market and don't have a value more (or less) than simply what has been paid for them. They are not transferable.
Do I have to be a Letsbuyhealthcare Member to buy Healthcare Coin Vouchers?
Yes. You must first have registered as a Letsbuyhealthcare Member before you can buy Healthcare Coin Vouchers. Members can do so on the Letsbuyhealthcare website or at Post Offices. Members will need their Letsbuyhealthcare card at Post Offices. If your employer is buying Healthcare Coin Vouchers for you then you should provide them with your Letsbuyhealthcare Membership Number.
Are my Healthcare Coin Vouchers purchases safe and secure?
Yes, in the same way as gift or shop vouchers, the value of your Healthcare Coin Vouchers will remain static. For the avoidance of doubt, Healthcare Coin Vouchers are NOT an investment scheme or an investment fund. Information from independent, third party, professional auditors of Letsbuyhealthcare accounts and records will be published and made available to Members to clearly demonstrate the full integrity and governance of the scheme.
