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Welcome to The 10 tips Series – where Tina Gray {dot} Me readers and myself will share with you what we know.
Scroll right to the bottom to find out how you can submit your own 10 tips.
Health insurance is no longer seen as a luxury for many Australian individuals and families, as coverage can really give peace of mind when it comes to health issues.
Many consumers though, make the mistake of not considering the options out there.
There are actually a lot of variables to consider when purchasing your cover; here are a few tips to help you through:
one… Consider your health needs. You need to look at your age, lifestyle, pre-existing ailments and family history. If you are young, healthy with no family history of disease, then you are more likely not to need to go in to hospital at any time.
two… Choose your hospital. Choose your hospital in advance; this is really important when deciding on what policy to go for. You may not realise it, but not all hospitals are covered under all policies, so make sure you check the hospital list on any cover before buying.
three… Act quickly. Those individuals under the age of 31 should be on the lookout for the best deals possible. This is the threshold age before premiums start going up, so try to get in there while the going is good. Most companies try to keep customers by not increasing premiums, so to get a good deal; the early bird catches the worm.
four… Pre-pay. If you pay your whole year in advance with your existing company, you might be able to take advantage of a small discount. Many insurance companies increase their premiums by at least 5%, around April time but if you get in there before the increase, you could be in with a saving.
five… Excess and Co-Payment. Both of these options can lower your monthly premiums on health care for families, couples or individuals. Excess is where you agree to pay a predetermined lump sum towards your bill if you do visit hospital. Co-payment is the same idea but you are able to pay off the excess dependant on the amount of time you spend hospitalised. These options can really save you money in the long run but are only advisable options for those
who don’t expect to get ill.
six… Overseas. Are you the type of person who will travel a lot? If so, make sure you take out a policy that allows you to suspend for long periods of time if you are out of the country. This way, you won’t be paying for travel insurance and health insurance at the same time.
seven… Scheduled appointments. Always double-check with your policy to make sure you are covered for an appointment before you go. Far too often patients assume that they are covered but get a rude awakening when they find out they are not.
eight… Filling in Claims forms. Always go for a company that claims to be either paperless or close to it. You always have the right to ask to look at the paper work you will be expected to fill in if something happens, if an insurance provider sends you something that looks too long, complicated or possibly misleading, go for a company with a much more user friendly system.
nine… Always compare. The most common mistake you can make is to reuse the same company over and over. You must do your research if you wish to save money. Private health insurance comparison sites like Choosi are there to give you all the facts on all the companies in plain English.
ten… Rethink your cover. Every year you need to reassess what it is you need form health insurance. Perhaps you feel you have reached a mile stone in age and wish to cover against illnesses related to age, or perhaps you have had a new arrival in the family and wish to extend your cover. Anything at all that has changed deserves consideration when purchasing cover.
Your turn… do you have health insurance? What were the most important factors when choosing your own?
If you are interested in guest posting and/or submitting your own 10 tips, please email tinagray.me@gmail.com.
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