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You’d do anything for your family, right? That means finding the right health cover at the right price for your partner and kids is one of the most important decisions you can make. You can compare a range of competitive offers for family health insurance from a panel of Australia’s leading providers with Savvy. Simply fill out a quick quote with us to compare offers in one place based on their cost, inclusions, added benefits and more. Get started with us today.
How does family health insurance work?
Family health insurance is designed to provide effective cover for you, your partner and your children. This cover can apply to services or treatments not covered by Medicare as well as hospital care. Under a family health insurance policy, you can take out hospital cover, extras cover or a combination of the two for the most comprehensive health and financial protection.
Family health insurance cover can apply to families of all sizes, with dependent children covered up to the age of 31 with some insurers.
What are the different types of family health insurance and what do they cover?
Family health insurance policy options include the following:
Family hospital cover
Hospital cover for families can help you access cover for medical services or treatments as a private patient in either a public or private hospital. Family hospital cover can also provide cover for part or all of your in-hospital treatment by your preferred doctor, plus in-hospital accommodation and theatre’ fees should you require surgery.
Hospital cover policies are divided into four tiers: basic, bronze, silver and gold. Each tier has its own benefits, and the cost of your insurance premiums will be largely dictated by the level of cover you choose. The more basic the policy, the cheaper the cost but the fewer inclusions you’re likely to have. Some of the key areas which may covered, depending on the type of policy you buy, include:
- Ambulance cover
- Private patient accommodation in private or public hospitals.
- Intensive care costs
- Operating theatre fees
- In-patient MRIs, x-rays, CT scans and pathology
- In-patient cancer and stroke treatment
- In-patient pharmaceuticals
- Cardiothoracic surgery for heart, lungs or chest
- In-patient rehab services
- Organ transplant
- Surgically implanted prostheses
- Eye surgery
- In-patient psychiatric treatment
- Palliative care
- Other surgeries and in-patient procedures including hip replacements, knee replacements, back surgery, dental surgery, hernia repair, colonoscopies and much more.
Each of these will be covered under a top tier gold hospital policy, but you may not have access to all of them under a less comprehensive plan.
Family extras cover
Family extras insurance can offer cover for the cost of treatments and health services outside a hospital setting, such as dentists and physiotherapists. The inclusions under a family extras policy will differ between insurers, but some of the common extras which are often considered for families include:
- Dental and/or orthodontics
- Optical
- Pharmacy
- Physiotherapy
- Podiatry
- Chiropractic
- Diet/nutrition services
- Speech therapy
- Preventative testing
Combined hospital and extras cover
A combined family hospital and extras cover policy can provide the benefits of both sorts of cover. It may allow you to take advantage of a combination of both sets of inclusions to boost the level of protection available to your family. It’s possible to mix the level of cover you have for both types of coverage, such as choosing a bronze hospital cover policy with a more comprehensive extras cover policy.
What isn’t covered?
The exclusions of your family health insurance will depend on the type and tier of cover you choose. Under a family health insurance policy with only hospital cover, the common exclusions can are:
- Procedures which aren’t considered medically necessary (such as cosmetic surgeries)
- Most CT scans, MRIs, x-rays and blood tests performed on outpatients
- Visits to a GP or public hospital emergency department (which are either partially or fully covered by Medicare)
To gain a thorough understanding of a policy’s exclusions, carefully read your product information documents prior to help determine the cover you can access for yourself and your family.
Waiting periods for each type of hospital cover may vary but are usually:
- 12 months for any pre-existing conditions.
- 12 months for pregnancy or other birth services.
- 2 months for rehab, psychiatric or palliative care (regardless of whether it’s a pre-existing condition).
- 2 months under most other circumstances.
The types of health insurance
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Considering offers from trusted insurance providers can help give you peace of mind that you're comparing high-quality policies.
What affects the cost of my family health insurance premiums?
The level of cover you choose
The primary factor in determining the cost of your family health insurance is the level of cover you choose. If you opt for hospital cover, there may be a significant price difference between basic hospital cover and gold hospital cover. The addition of extras cover to your chosen hospital policy will also increase the cost.
Your choice of health insurer
Policy prices may differ quite substantially between insurers. For this reason, it's important to compare policies carefully before deciding which one offers the best value for your family's needs.
Your state/city of residence
Certain states and cities may have higher costs for certain healthcare treatments or services, so the cost of your family health insurance will reflect these differences. As such, it's important to do your homework to see how where you live may impact your health insurance premium.
Your age/life stage
Your age at the point you purchase your policy may also affect your premiums if you’re entitled to a discount. Some insurers may offer those between the ages of 18 and 29 a discount on their hospital cover premiums worth up to 10% (2% each year the policyholder is aged under 30). As such, you may pay less for your policy if you and your partner are eligible for a discount with an insurer.
The cost of your excess and co-payments
In addition, your family health insurance premiums will be impacted by the excess and co-payments you choose. You can choose to pay a higher price for a policy with lower excess and co-payment amounts, or you may opt for a low-cost premium and commit to a greater spend in each area.
Pros and cons of family health insurance
Top tips for comparing family health insurance
Compare the cost of family health insurance premiums
Consider your family’s age and health situation
Compare the total coverage on offer
Understand your policy's limits
Frequently asked questions about family health insurance
The best family health insurance cover will depend on your family’s health and financial situation. Every family’s needs will be different, so choosing the best cover for your family will require you to weigh up its coverage against its cost and your family’s health care requirements.
This will depend on the policy you buy and the conditions of that policy. Wisdom tooth removal can be included under your hospital cover, extras cover or perhaps a combination of the two, depending on where the procedure is completed and its complexity. Wisdom teeth removal can get complicated, so talk to your insurer to understand what you're covered for and whether a gap payment may be required.
No – parents can’t be included in your family health insurance. Family health insurance only applies to you, your spouse or partner and your eligible dependent children aged under 21 years (though a few funds extend dependent cover to 31 years).
By taking out hospital, extras or a combined cover, you may be eligible for a rebate from the Australian Government depending on your income. If you earn over the rebate threshold, however, you may not be eligible for a rebate. By taking out appropriate hospital cover for your family, you will avoid paying the Medicare Levy Surcharge of between 1% and 1.5%. It's important to understand the tax implications of health insurance before you buy.
If you’re planning on having a baby and want to have private health cover for the pregnancy and birth, you should look at cover which specifically includes pregnancy. It’s important to take out this cover at least 12 months before your expected birth date, as a 12-month waiting period often applies. If you don’t get insurance in time, you may not be covered in the event of a premature birth.
Helpful guides on health insurance
Looking for health insurance to cover your conditions or treatment?
Read one of our helpful guides on a range of different ailments and potential hospital or extras treatments to help you find out if they're covered.
Disclaimer:
Savvy is partnered with Compare Club Australia Pty Ltd (AFS representative number 001279036) of Alternative Media Pty Ltd (AFS License number 486326) to provide readers with a variety of health insurance policies to compare. Savvy earns a commission from Compare Club each time a customer buys a health insurance policy via our website. We don’t arrange for products to be purchased from these brands directly, as all purchases are conducted via Compare Club.
Savvy’s comparison service is provided by Compare Club. Compare Club compares selected products from a panel of trusted insurers and does not compare all products in the market.
Any advice presented above or on other pages is general in nature and doesn’t consider your personal or business objectives, needs or finances. It’s always important to consider whether advice is suitable for you before purchasing an insurance policy.
For any further information on the variety of insurers compared by Compare Club or how their business works, you can read their Financial Services Guide.
