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Last Updated on 25 April 2018

Health Insurance for Singles

You’re single, you’re busy and comparing your health insurance is probably not at the top of your priority list. You might not have the time to call different health insurers to compare policies, or the inclination to deal with confusing terminology on health insurance websites for the sake of saving a few dollars on your premiums.

Maybe you’re building up your career, or maybe you’re comfortably established and have a full life with friends, family, social life and work. While it might seem like a hassle, taking the time to find the best health insurance for singles is important if you want to safeguard your health and finances in the future.

Health Insurance Comparison can help you find the best health insurance for singles, whatever your personal circumstances, age and medical history. We understand that you’re busy and you may have better things to do than spending hours on the phone talking about health insurance.

Give us a call and let us do the work for you. All it takes is a quick chat with one of our experienced advisers and we will compare health insurance for singles and find the policy that’s best for you.

I’m healthy – why should I review my private health insurance?

Australians are lucky enough to live in a country with access to free health care at any age but Medicare has limitations. Whilst there are a number of benefits, the scope of cover provided by Medicare is very basic and waiting lists can be long for hospital treatment and specialist care.

Most of us know this and that’s why we have private health insurance but many people neglect to review their policy on a regularly.

Health insurance shouldn’t be a set and forget process. While you may be healthy now, things can change very quickly, failing to update your cover to suit your current situation could leave you vulnerable to rising medical costs and availability of treatment.

If you find yourself facing an unexpected health issue, and you aren’t covered by health insurance, the costs can mount up, even for relatively minor medical treatment.

Ask yourself; Does the policy you took out five years ago match your health situation and needs now? Could you get better value by changing providers?

Many health insurance providers don’t take care of their customers. If it’s been some time since your insurer got in touch you may feel as if they’ve forgotten about you. Switching to an insurer who puts their customers first means that should you experience a medical crisis, there’s someone there to speak to you immediately.

Safeguard your health over the long term

Taking a proactive approach to your health is essential if you want to ward off future problems and keep your medical costs lower over the long term. Did you know that as well as hospital cover, many policies offer extras cover to help you maintain a healthy lifestyle?

Depending on your policy you may be able to claim for:

  • Alternative therapies
  • Physiotherapy
  • Dental treatment, including cosmetic dentistry
  • Psychology
  • Occupational therapy
  • Optical, such as glasses and contact lenses

The right extras cover can save you money and give you access to preventative health care options you may not otherwise have so you can stay healthy and happy for longer.

Safeguard your finances

The right private health insurance can help you safeguard your finances in the future. Getting the best value for your premiums you can free up more cash now and ward off expensive medical bills if something should happen in the future.

While it may seem unlikely, if you do experience a significant medical issue, you may be unable to work for a period of time. Paying for the cost of treatment at a time when your income is also reduced can leave you financially vulnerable.

The right health insurance policy will give you the confidence of knowing that if the unexpected does happen, you won’t be financially crippled with medical costs at a time when you least need it.

How much coverage do I need?

While it can be tempting to buy the cheapest singles health insurance coverage you can find while you are healthy and don’t have any dependents, going without the right cover could leave you vulnerable in numerous ways.

Because so much is unknown in life it can be difficult to know exactly what type of cover will be right for you. If you’re young and healthy and not planning to start a family in the near future you may be able to get away with basic hospital cover and a few extras.

If you’re older or have some ongoing medical issues you might want to look at getting a more comprehensive policy so you can be confident knowing that you’re covered for any medical expenses and have access to any care you might need in the future.

While a more comprehensive policy will cost you a higher premium, if you need medical treatment than out of pocket expenses will be lower.

When you’re evaluating your medical insurance needs it’s important to plan for the future. Whatever policy you end up with there will be a 12-month wait for obstetrics which means that if you’re planning to start a family in the future you will need to sign up early. Waiting periods are usually in place for other treatments including dental, some therapies, optical and pre-existing medical conditions.

Remember, if you’re switching funds, you won’t need to re-serve waiting periods when you transfer to a cover with equivalent benefits… even if you have a pre-existing condition.

I’m in a relationship – is a singles policy right for me?

You can stay on a singles policy if you are in a relationship or married. As a person in a recognised relationship you have the choice of taking out a couple’s policy or keeping your own separate singles policies.

While a couple’s policy is sometimes cheaper than two individual singles policies, you will need to look carefully at your options and shop around before making a decision.

It can be complicated evaluating your health insurance needs and finding the best policy for you. It’s always a good idea to do your research and compare as many policies as possible but this takes time.

Here at Health Insurance Comparison, we can help you find the best private health insurance for singles so you don’t have to spend hours comparing policies. Fill out your details below or give us a call if you’d like to chat with one of our advisers.

Frequently Asked Questions About Health Insurance

There are three types of health insurance in Australia. They are:

  • Hospital Cover
  • Extras Cover (also known as general or ancillary cover)
  • Ambulance Cover

Hospital cover can ensure any unexpected surgeries, treatments or hospital stays you may require will be covered. With appropriate cover you will have the flexibility to choose your own doctor and the option of receiving treatment in a private hospital.  Most hospital covers allow you to stay in a private room. One other perk is skipping the public hospital systems’ waiting list, which can be lengthy for non emergency treatment.

Extras cover pays benefits for a a range of services, often including treatments and procedures related to the fullowing:

  • Dental/oral health
  • Glasses and contact lenses
  • Podiatry
  • Physiotherapy
  • Psychulogy
  • Acupuncture
  • Remedial massage
  • Chiropractic
  • Hearing aids
  • Travel vaccinations

Ambulance cover, as the name suggests, will cover you should you require emergency ambulance transport. In an emergency, there is enough to worry about. Having the expenses covered for provides security and peace of mind. Many hospital covers include emergency ambulance transport If yours doesn’t, you will need to shop for this separately.

Life is unpredictable. You never know when you might need cover. No matter what life stage you’re in, there’s a policy out there for everyone. You can select as much or as little cover as you want, depending on your health needs and requirements. It’s a small price to pay for the peace of mind health cover provides.

There is no one answer here. Costs vary across providers and policy types. Just because a policy is cheap, that does not mean it is ‘value for money’ and vise versa. Make sure you check what’s included and excluded in a policy before signing up, as you want to purchase a policy that best fits your specific needs.

Premium: A premium is the price you pay for your insurance policy (it may be paid annually or on an ongoing basis).

Policy: An insurance plan. In other words, it is the type of insurance you choose to select.

Policy Holder: The owner, or ‘holder’ of a policy.

Claim: In the event that you require treatment for a service covered by your policy, you can lodge a claim for reimbursement of all or part of the cost of that treatment.. These days, most claims are submitted electronically by the health care provider (dentist, physio etc)

Lifetime Health Cover: Lifetime Health Cover was put in place to encourage young Australians to seek out and maintain ownership of private health insurance early in their lives. If you do not take out a policy before you turn 31, extra charges will be applied should you take out a policy at a later time.

This means you will pay a 2% loading on top of your premium for every year that passes after you turn 30. For example, if you take out a policy for the first time at age 32, you will be charged 4% of your premium as an extra, then at age 40, 20% and so on, up to a maximum loading of 70%.

The loading is payable for 10 consecutive years of cover - after which it is removed and you premiums will be reduced.

Pharmaceutical Benefits Scheme (PBS): Medicare offers assistance for Australians with many of their their prescribed medication costs through the PBS. This assistance is in the form of subsidies towards the cost of many medications. You can check if your prescribed medication is on the list of subsidised items here.

Medicare Levy Surcharge: The Medicare Levy Surcharge is an additional charge (tax) applied to single Australian taxpayers who earn over the income threshold of $90,000 per year, or families/couples who earn over $180,000 per year. This surcharge is only applied to those who choose not to have a private health insurance policy.

The surcharge is designed to reduce pressure on the public health system by encouraging those with higher incomes to invest in private health cover.

Private Health Insurance Rebate: The government’s Private Health Insurance rebate lowers premiums for most Australians with private health insurance Older Australians may enjoy an even higher rebate. Our calculator can help you estimate the Government health insurance rebate you may receive.

Disclaimer: The above information is correct and current at the time of publication

Still have questions? Let's talk!

Confused? Not sure if this applies to your situation? Phone us on 1300 643 355 for some free, no obligation advice.

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Emma Deriu

Emma Deriu is a psychology graduate from Sydney, Australia, with personal interests in health, lifestyle and wellbeing. Emma currently writes about all things health insurance, aiming to 'make insurance easy' for consumers who are looking to compare policies.

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