In Australia, we’re lucky to have access to great public healthcare. Medicare covers most of our health needs - but what about the services that aren’t included?
Dental care including orthodontic treatment, physiotherapy, speech therapy, contacts, glasses, and in some states ambulance care are examples of services that don’t fall under Medicare, and can end up costing you and your family. Family health insurance is a good way to protect you and your family, and potentially save money at the same time.
If you want peace of mind that your family is protected for most medical procedures, then family health insurance can be a worthwhile investment.
The type of cover that’s right for you depends on your family’s life stage. If you’re a planning for kids or thinking of having more, it’s worth considering family health cover that includes pregnancy. If you’re done growing your family and just want cover for you and your kids, it might be worth looking into a top level family health insurance policy to give you peace of mind.
If you’re about to be parents for the first time, it may be worth purchasing a singles health insurance policy with pregnancy cover, then upgrading to family health insurance before your newborn arrives.
Keep in mind that your kids can be covered by most health insurance carriers until they turn 25, dependent on their study, residential and relationship status.
Whichever stage you’re in, if you want the comfort of knowing that you and your family are protected no matter what life throws your way, then family health insurance is worth considering.
Whether you’ve got a newborn in tow, or your kids are all grown up, family health insurance will fall into one of two categories - hospital cover or extras. Most health providers offer a combination of both, so you and your family can be covered in any scenario.
Most hospital cover admits you and your family as private patients at both private and public hospitals. It can cover some or all of your private patient fees including theatre and surgery fees, accommodation, and nursing care.
Depending on the level of cover you invest in, you and your family could be covered for thousands of medical procedures. One of the biggest benefits of hospital cover is being able to choose where you can receive treatment.
Extras cover (or general treatment) includes everything from dental care for you and your family to consultations with optometrists, physiotherapists, podiatrists and chiropractors. If you or your kids need glasses, dental checkups or the like, you’ll have to cover these expensive costs out of pocket. Investing in extras cover will help you manage those unexpected bills and help protect you and your family.
Most private health insurance companies offer a combination of both extras and hospital cover. If you want the safety net of hospital cover with the benefits of extras that you know you and your family will use, it’s a great idea to get a combination policy.
Whether you’re interested in extras cover or hospital cover - or both - there are plenty of great reasons to get family health insurance.
Not only can it give you peace of mind about your family’s health, it can help you save money for things that matter like your children’s education and future. This is because health insurance can function as a safety net for those unexpected costs from dental care, chronic illness, or hospital treatment.
It can also give you and your family more power to choose who treats you and where, as well as providing you with better facilities and accommodation. You can even have treatment at a private hospital, and skip long public hospital waiting times for elective surgeries such as hip replacements, cataract extraction, and ligament repairs.
Being covered for those unexpected situations, having control over where your family is treated and managing unexpected bills are some of the benefits of investing in family health insurance.
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