Reviewing your health cover?

Make sure you ask these 3 questions.

compare single parent health cover
Story by Chris Quinn
Reviewing private health insurance can be a daunting business.

There are over 36 different health funds and literally thousands of different health insurance policy combinations you can choose from on the market today. Trying to find the best deal for you can be tough if you don’t know where to start, but a good place is to ask yourself these 3 questions when you’re looking at a new policy.

1. How many times do I actually use my extras?

When choosing an extras policy, you want to have an honest review of the extras you actually use on a yearly basis and make sure you get coverage that suits your frequency of usage. So if you like the idea of getting a remedial massage, but you only go once a year, it’s probably best to either cut it off completely, or not make it a high priority when choosing a policy.

You also want to make sure that if you use a service regularly, say more than 12 times a year, a good rule of thumb is to be more concerned about the yearly limit than the actual rebate you get back each time. Conversely, if you only use a service a handful of times a year, then you want to look for a high rebate when you swipe your card and not be too concerned about the yearly limit.

2. What do I need coverage for?

Health Insurance should not be one of those bills that you set and forget about. You definitely shouldn’t downgrade your hospital cover for the sake of saving a couple extra dollars each month, but you should consider if there are services you may not use in the next 20 to 30 years.

Statistically, the chances of a woman in her twenties needing a full joint replacement are quite slim, but if you have top cover for pregnancy, then chances are you’re paying for services like full joint replacements. If you don’t think you’ll need something within the next 5 years then you should look at potentially taking it off your cover.

Some policies will allow you to take pregnancy off, but keep most or all of the services associated with top hospital. The trick is reviewing your cover often enough so that your coverage is relevant to your current needs.

What is the best private health insurance in Australia?

3. Is my local hospital covered?

So, you’ve found a great policy – well done!

But before you switch to a new health fund, make sure the hospital you’re most likely to go to is actually covered by your new health fund. No health fund has agreements which every single private hospital in the country, so it’s important to check before you switch over.

You’ll be able to do this by asking your health insurance broker on the phone, or checking yourself on the health fund’s website as they usually list all of their participating hospitals there.

If you’d like to review your cover, Health Deal will be able to guide you through the process of comparing and they’ll make sure you know the answers to these three questions by the time you’ve finished comparing.

Plus you could win 6 months free health cover if you switch with Health Deal.