Kids Left Home? You May Be Overpaying For Health Cover

Friday, October 13, 2017 Last Updated on 4 December 2017

Parents can save money by downgrading health coverage when the kids leave home

When adult children move out, it’s time to save money on your health insurance coverage. This important step is one that many parents forget to consider, and it can lead to paying too much for services you no longer need. As you approach retirement, saving money can become more critical than ever, so why spend more on health insurance than you should?

Watching your children grow up and become independent is a major milestone in any parent’s life, and it’s also an opportunity to take a closer look at your own needs. A big change can have a ripple effect on your health and finances as well as your emotions. It can be difficult to transition into having an empty nest, but that doesn’t mean you should miss out on the savings you deserve.

Now that your kids no longer need to be covered by your insurance, you can restructure to a couples or singles policy. These types of policies are usually cheaper than family policies, and can be customised to your priorities.

Here’s How You Do It:

Step 1: Select your current life stage below.
Step 2: Once you select your preferred coverage options, you will have the opportunity to compare quotes from multiple health funds.

Many parents miss this step and continue to pay for a family policy when their kids leave home, and it can be costly. Downgrade to a policy that suits your new lifestyle and you could save big.

You shouldn’t need to worry about repeating any waiting periods, either. When you switch to a new policy that offers a similar or lower level of cover, portability laws ensure that you don’t have to re-serve waiting periods.

If your kids are moving out, you may be at an age when Extras cover and medical care is more important than it was before. Private health insurance can offer you coverage where Medicare can’t, so finding a good policy can be beneficial for your health in the short and long term.

Finding the best price on your health insurance doesn’t have to be complicated, nor should you be forced to endure new waiting periods for coverage. Start by comparing policies at HealthInsuranceComparision.com.au, where you can receive an instant quote in under two minutes. Save time and money by comparing policies from multiple insurers, coverage options, and price all at once.

Health insurance experts are also available over the phone to discuss how you can save on health cover. If you have questions, an expert can clarify what Extras are included and what you are covered for under a new type of policy. Comparing policies helps you find one that can give you great coverage at an affordable price as you start a new phase of life.

Don’t fall into the trap of overpaying for coverage when your kids leave home. Compare health insurance policies today and start saving! Many parents miss this step and continue to pay for a family policy when their kids leave home, and it can be costly. Downgrade to a policy that suits your new lifestyle and you could save big.

You shouldn’t need to worry about repeating any waiting periods, either. When you switch to a new policy that offers a similar or lower level of cover, portability laws ensure that you don’t have to re-serve waiting periods.

If your kids are moving out, you may be at an age when Extras cover and medical care is more important than it was before. Private health insurance can offer you coverage where Medicare can’t, so finding a good policy can be beneficial for your health in the short and long term.

Finding the best price on your health insurance doesn’t have to be complicated, nor should you be forced to endure new waiting periods for coverage. Start by comparing policies at HealthInsuranceComparision.com.au, where you can receive an instant quote in under two minutes. Save time and money by comparing policies from multiple insurers, coverage options, and price all at once.

Health insurance experts are also available over the phone to discuss how you can save on health cover. If you have questions, an expert can clarify what Extras are included and what you are covered for under a new type of policy. Comparing policies helps you find one that can give you great coverage at an affordable price as you start a new phase of life.

Don’t fall into the trap of overpaying for coverage when your kids leave home. Compare health insurance policies today and start saving!

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