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Everything You Need To Know About Family Health Insurance

Are you thinking about taking out family health insurance? It’s cheaper and easier to bundle members of the same family into one private health insurance policy, but there are some things to consider when choosing insurance that is going to be suitable for the different needs of everyone.

Why Choose Family Health Insurance?

If you’re looking for peace of mind when it comes to the healthcare of your family, then a private health insurance policy is a good idea. Health insurance gives you greater choice and flexibility when it comes to health services, and can potentially save you money over the course of your policy.

One major benefit of private health insurance is that you can take out cover for healthcare that isn’t covered by the public system. We all know that active kids can have accidents, and while most of the time they bounce back easily, sometimes these can result in the need for hospital visits. Additionally, many kids need dental work, glasses, and other extra services that can put you out of pocket if you don’t have an insurance policy to cover them.

While we all wish for perfectly healthy children, the reality is that you don’t know what health concerns might come up. Family health insurance gives you peace of mind that you are prepared for anything life throws at you.

Who Is Included On The Policy?

Family health insurance policies cover your immediate family, including your partner and your children. Kids can be covered by your family policy until they are twenty-one, or until twenty-five if they are a full-time student.

When Should You Take Out Family Health Insurance?

If you haven’t started your family yet, but you are thinking about it, it may be worth starting to look at family health insurance. All health insurers will have a twelve month waiting period on obstetric services, meaning you need to have this level of insurance before conceiving if you want your pregnancy and birth to be covered. Once baby is born, they are not covered by the mother’s policy, so having family insurance ahead of time ensures that they have cover too.

What Type of Family Insurance Policy Is Right For You?

As with all health insurance, there are two types of family insurance policies: hospital cover and extras cover. Hospital cover is for all treatment as a patient in a private hospital. Extras cover is for all additional non-hospital health services, such as dental, optical and physiotherapy. When choosing a policy, you should consider which extras may benefit your family. For example, many kids will need their teeth straightened at some stage, so orthodontic treatment may be a worthwhile extra to prioritise.

Don’t forget your own health needs too, and those of your partner – after all, the policy is for all of you! Consider your age, lifestyle, medical history and any injuries or illnesses you may be predisposed to.

Whichever policy you choose, you are not locked into it for your children’s entire childhoods. As they grow, your needs may change, and you should consistently reconsider your cover and alter your policy as necessary to ensure it is always meeting the requirements of your family.

Sally Writes 12 Apr 2021

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