Private health insurance is something that people should get to ensure that they are covered in all instances. When you are a newlywed, you have more than yourself to consider, so it may be time to combine your insurance policies into one family plan. This insurance plan will cover you and your children if and when you decide to have some.
But the question always comes up about why it is needed. There are many reasons, especially if you have not had private coverage before. Let’s dig into this topic and discuss 5 reasons why newly-wed couples should consider family health insurance.
Choice Of Treatment Locations
It may have been just fine to take advantage of the Medicare coverage that all Australians have, but that may not be the case once you are married. A private health plan will allow you to choose where to get medical help. Without this insurance, you and your spouse will be limited to public institutions.
This may be OK for some things, but when you need specialized care, you may not feel comfortable going through any doctors other than the ones you already have in place. With a good family health plan, you and your spouse can go to any private or public medical facility you want, giving you some options when traveling for your honeymoon.
Expanded Coverage For Specialized Care
Medicare coverage has its limitations and exclusions. When you need to see a dentist or optician, you will have to dig into your pockets and pay for it on your own. A private health care plan can have coverage for those specialized doctors and any others you may need to see. You will just have to check with your new coverage plan that you get through a comparison platform like iSelect.
Once again, though, these types of medical visits will not be limited to just you. Your entire family will benefit from these visits, including your kids. This means your whole family can get some new glasses and maybe a teeth cleaning and checkup without paying anything out of your pocket except for the co-payment you may be required to make.
Government Offered Rebates
When you pay for a family health plan throughout the year, the government will not only remove the fee you may have for not carrying your own health insurance (if you are over the income barriers) but will give you a rebate along with your yearly taxes. This means that you can stop stressing about the taxes you will have to pay as a married couple and be grateful that you will be getting a discount just because you have obtained your own coverage.
Save Some Money On Premiums
Much like every other type of insurance plan you may have, combining more than one policy into one umbrella policy or one single policy will save you some money on your premiums. If that doesn’t make sense, think about it this way; if you each have a single plan, you pay a set amount every year, but if you combine the two, you will only have one yearly premium.
Yes, it will be a higher premium amount than what you used to have, but if you do the math, you will quickly see that it will cost you less to have one plan than separate plans for each of you. Plus, as newlyweds, you should combine everything into one pot anyway, including your health care insurance.
Big Families Pay Less
When you have a family of more than 5, you will find that a family health plan will save you some substantial money. You already know that the more people you put on one plan, the higher the premiums will be, but once you get over 3 children, the rest are not factored into the premium requirements. If you had separate coverage for them all, you would be paying much more than you will with a family plan.
As a newlywed couple, the first thing you will think of is not insurance, but it should be something you sit down and discuss after the wedding and honeymoon are over. If you are a young couple and are on your parent’s private insurance plan, it may be better to stay on it until you and your new partner reach the age of 26, or get to a point where you can easily afford the extra payment amount. Either way, once you are officially married, it is time to step up, combine your health insurance policies, and move on with your life.
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