New government laws could help smart parents save on their health cover

Parents with older children living at home may want to review their health cover. From April, adult children will be able to stay on family policies until they’re 31, and that has big implications for older Aussies.

Whether your twenty something dropped off your insurance a few years ago or they’re approaching your health fund’s age limit, it’s worth taking time to compare across the whole family and see where you can get value for money when the proposed changes kick in.

*Average savings based off 25,311 customers during 2020

Get more cash back when you keep your child on your policy

It’s worth comparing family health insurance policies if you have a child in their early 20s. It’s the easiest way to make sure you’re not overpaying on your premiums while also receiving the best rebates on your extras.

That could mean finding a policy that gives you back 80% or above on things like dental check-ups, glasses and contact lenses and physio appointments. Get this right and your family policy could start paying for itself.

Below you can see the current age limits from a selection of health funds. Once your child reaches this age, they can generally remain on your health insurance until they turn 25 providing they remain full time students.

But this could change when the budget proposal to raise the age limit to 31 is implemented.

Re-adding your child? It pays to compare cover.

It’s worth taking time to compare your cover. Why? Every cent counts for today’s Gen Zs, so even if your child isn’t currently covered, you may be able to help them save.

By making sure they’re on the right cover, you can help them avoid getting hit with large out-of-pocket expenses for any health services they’re likely to use, such as dentist visits.

You can also cut your costs by comparing.

Over the last decade, the team at Health Insurance Comparison has saved Aussie families on average $536* when they switched with us. Finding a better deal for you is quick and easy – just click your state below to get started.

Get Started Now:

Step 1: Select your state below .
Step 2: After answering a few questions, you will have the opportunity to compare quotes in your area and could be eligible for significant savings.

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*Average savings based off 25,311 customers during 2020

Many young Australians opt to go without health insurance, so the government’s decision to up the age limit to 31 could allow some parents to keep their adult kids covered at an affordable price.

This means you can have peace of mind that your child has great coverage while also getting the best deal from our panel of insurers if the changes kick in.

And if you’re ready to save your family money today then click here to compare now.

*Based on 20,123 policies between 2011 – 2021

This article is opinion only and should not be taken as medical or financial advice. Check with a financial professional before making any decisions.

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