Cheap Health Insurance for Families

Consider the benefits of health cover

Every parent wants the best for their children, and that includes the best health care and the best health cover they can afford. However, finding cheap health insurance for families can be a real pain. We should know; we are a health fund. Health cover can be more expensive for families than for single people, which means it can be even more important to match the right one to your family’s needs.

* The price shown is per week and applies to a {LIFESTAGE} living in VIC. It excludes LHC loading and includes a Base Tier Government Rebate

Australians are lucky to have Medicare. As a free service that can help pay for medical consultations, tests and examinations, it is the envy of most of the rest of the world.

It's also a safety net if you need to visit hospital, covering you for a public hospital stay. Medicare however doesn't cover many treatments and services that cheap health insurance for families could provide benefits for.

Public hospital waiting lists can be long, especially for non-emergency cases like tonsillectomies, grommet procedures or joint reconstructions. This means while you might be eligible for free treatment from the public system, you or your family members may need to wait for surgery. Having cheap health insurance for families can help you avoid the public hospital waiting lists by being treated in a private hospital. Having the option of not sharing a room while you or your children recover can also be a reason for families to take out private hospital cover.

Sometimes, Medicare doesn't cover all of a family’s health needs, especially when it comes to treatments outside of hospitals. Going to the dentist, having physio treatment, or buying new glasses or orthotics can be very expensive. Having cheap health insurance for families can provide benefits for those kinds of treatments if you need them, and extras cover can help make balancing your weekly budget easier if you do.

Cheap health cover may not cover everything your family needs, or could leave you significantly out-of-pocket for some procedures. On the other hand, expensive family health insurance policies may be a waste of money, with cover for things your family will never use.

It's important to compare policies so you don't just get the cheapest family health insurance cover but the one that offers you the best value.

Weigh up hospital and extras cover

The first thing you should consider when looking for the best cheap health insurance for families  is what type of benefits you are expecting from private cover. If you're looking to be covered by more than Medicare when you need to visit a hospital, then hospital cover is for you. Frank's cheapest hospital insurance cover – Basic Hospital –  could cover you for treatment a public hospital only.

While there may be cheaper family health insurance policies out there, make sure you look at why they are cheaper. This may include additional exclusions, higher excesses and co-payments.

Even with cheap health insurance for families, if you have hospital cover that covers you in a private hospital, you can choose what doctor treats you, unlike the public system. For a family this can mean keeping with the doctor that treats them over time, or finding a doctor such a paediatrician they are comfortable with.

Many families choose to have the peace of mind that comes with having extras cover as well as hospital cover. A bundled  package offers hospital cover, as well as cover for health services not covered by Medicare or hospital cover such as dental, optical, chiropractic, physiotherapy and acupuncture, among others.

We have two extras plans that offer cheap health insurance for families – Lots and Some. Like hospital cover, the higher the level of extras cover, the more treatments and services it provides benefits for, so make sure you take a close look.

Many policies offering cheap health insurance for families can limit the amount of treatments they offer, and, for example, only provide cover for general dental procedures like oral exams, cleaning and basic treatment. But our two extras plans offer cheap health insurance for families that includes both general and major dental. There is no point getting dental cover for your kids and not yourself, and major dental can provide benefits for the kinds of dental treatments parents are more likely to need.

Alongside our philosophies of affordable and simple cheap health insurance for families sits choice. Cheap doesn’t have to mean limited. We offer the choice of either 50% or 80% back on extras. Choosing the 80% option means the premiums can be higher, but your out-of-pocket costs could be lower. You may find that you reach your annual limits quickly if you are a regular extras user. If so, using the 50% option gives you the option to pay higher out of pocket costs and use your annual limits over the course of a year.

Keeping costs lower

Health insurance premiums tend to increase on a regular basis because of government regulations and higher medical costs. If you're looking to spend much less on your private health cover, it's best to shop around and compare policies prior to April each year. Often not-for-profit funds such as Frank offer superior value as they don't need to pay dividends to shareholders.

Many insurance companies have promotional offers like giving a free month of insurance or waiving certain waiting periods. These can help make your cheap health insurance for families even more affordable.

Get one month free plus skip 2 & 6 month waits on extras when joining on combined cover by June 30*

*For new members joining direct via web or call center on combined hospital and extras cover. 12 month waits, annual and sub limits apply. Extras claims made with a previous fund are included in your annual limit. Must not have been a member within last 12 months. Must pay first month to receive one month free. Not available on Frank OVHC or in conjunction with any other offer. Ends 30 June 2022.