Kiddipedia
“Each family needs some guidance on what level of health cover is best for their child’s needs, especially if it’s their first time looking for cover.”
My name is Esra. I’m a Senior Health Insurance Adviser at Compare Club and each day my team fields hundreds of calls from families across Australia about their cover.
And you’re not alone if you’re confused about the world of health insurance. I hear it from other parents every day.
Sometimes they’re buying cover for the first time and confused about what they need. Some are worried they’re paying too much. And some mums and dads aren’t sure if the policy they’re on will actually cover what they need from the essentials such as dentist visits.
But the number one question I get asked is “What’s the “best” policy for my young family?”,
I wish I could give one easy answer, but just as every parent knows each child has their own wants and needs, the same is true for health cover: Each family is different and needs something different from their health insurance policy.
But it doesn’t have to be hard. Here’s a few questions I’ll always ask parents who are looking to make sure their family is covered at a cost that won’t break the bank.
- What do you need for today and the future? Consider what’s essential for your family today, but also in future years. Items such as major dental and orthodontics often come with 12 month waiting periods, so look to add these to your policy a year in advance if you think your child may need braces or you’re worried about covering the cost of a crown.
- Can you get any special offers? Health funds always want new customers and often offer waived waiting periods on extras throughout the year. You can really save time and money by jumping on these offers so you can start using your cover immediately.
- How can you make your extras work harder? Some family policies have higher benefits and annual limits for dental, new glasses and trips to the physio. They may cost a little more but you get more back into your bank account, which can really help with cash flow.
- Does your cover go above and beyond?
- Is the cheapest policy really the best policy? Although you might want to stick to a budget , that doesn’t mean you should opt for the cheapest policy. For example, for just a few dollars more a week you could get a Bronze Hospital policy that covers many common procedures as opposed to a Basic Hospital policy that covers ambulance rides and helps you avoid tax, but does precious little else. Similarly, it can be worth upping your extras if it means higher annual limits and rebates.
These are just a few tips to get started. It’s a big topic, and my colleagues have written a more in-depth guide to family health insurance. But this doesn’t mean it should be complicated. What’s more, you shouldn’t settle for sub-standard cover.
Private health insurance doesn’t have exit fees and you may be able to switch to a cheaper similar policy without needing to serve new waiting periods.
The bottom line: shop around for your health cover, regularly and often. What you need will often change as your kids get older, so staying on top of your health insurance means you can be confident you’re getting value for money.
Melbourne-based health Insurance expert at Compare Club, Esra and her team spend their time looking for extra ways to help families save on the cost of their health insurance. As a mum herself, Esra understands the need to protect her family’s health, and those of thousands of other Australian households, without stretching your budget too far.
Website: compareclub.com.au/health-insurance/families/
