Couples Can Save Thousands on Health Insurance Because of These Tips
New couples often make a lot of plans, but insurance isn’t one of them. Health insurance is an essential thing to consider getting. Getting health insurance may be expensive, but it will definitely be a wise decision in the long run. Health protection is always a great thing to have for peace of mind.
Many couples tend to get a couple’s insurance. This is practical in many cases. However, it may also be wise to get separate health insurance coverage in some instances. What are the best ways of keeping expenses low? Is health insurance necessary in the first place? Here are some great Health insurance tips for couples in Australia.
Health Insurance Coverage
A common misconception that most people have is that health insurance is only for massive expenses. Health insurance indeed covers major expenses like surgeries. What many overlooks is the fact that it can also cover the following:
- Routine medical check-ups
- Laboratory tests
- Dental care
- Chiropractor services
You don’t have to get sick to be able to use your health insurance. Make sure that you’re protected. Health insurance isn’t exactly the cheapest, so make sure that you consider ways of keeping expenses low.
Consider your health status as a couple. Does either of you have any pre-existing medical conditions?
This is an important question to ask if you are considering getting a couple’s insurance. If one of you is prone to sicknesses or already has existing medical conditions, then it may be better to get separate policies. The healthier of the pair can opt to get a lower-cost insurance plan. The one more likely to get sick can get a more expensive insurance plan with better coverage. This strategy can help in keeping total expenses low.
There are exceptions, of course. But most couples would find it more practical to use this strategy.
Know what you currently have. Do any of you have sponsored plans?
Some employers provide better health insurance plans compared to others. Some of these plans can cover both you and your partner for a reasonable price. If you believe that the price is worth getting a couple’s coverage for, then consider getting it.
Know your needs. Will that coverage be worth it?
Consider your medical needs as a couple. Do the math and see if the premiums you will pay are lower than what you would be spending otherwise. For example, if you, as a couple, need to get regular medical check-ups, add the costs. If the total expenditure is lower than the premium, then getting that coverage may not be wise.
Know your annual earnings. Are you eligible for a rebate?
Australian law states that there is a rebate for your health insurance depending on your earnings. The calculations for singles and couples insurance are different. The higher the total income for the family, the lower the rebate that they become eligible for. You may want to consider getting either a combined or a separate health plan because of this. You may learn more about rebates from the Australian Taxation Office’s site.
Carefully consider all these factors and decide from there. Careful planning is key to keeping healthcare insurance expenses low.