What is important about having cheap health insurance for kids?

As you probably already know, parenthood can be a huge responsibility. Raising children in Australia is reward experience but also an expensive one. This is especially true if they become sick or injured and you don’t have private health insurance.

Having a family health cover, even a cheap health insurance policy for your family can significantly reduce these costs. Not only does a cheap health insurance provide protection and peace of mind, but you can actually save money from a reduced tax burden as explained below.

Browse our covers

* The price shown is per week and applies to a {LIFESTAGE} living in VIC with a $500 excess. It excludes LHC loading and includes a Base Tier Government Rebate

What health insurance policies provide cover for kids?

While it is possible to cover a child on a singles policy, the best value all health funds offer relate to family policies. If you’re a single parent, there is even a customised policy that Frank offers for you and your children(s). Most cheap health insurance policies for families are priced similar to couples plans. This means that kids are added at a minimal cost.

With Frank, children are covered up until they turn 25 years of age. After they reach their 25th birthday they need to organise their own cheap health insurance within two months if they are to avoid serving waiting periods when they join.

If you’re planning to have a baby then don’t wait to get covered for pregnancy. You must have served at least 12 months in order to receive obstetrics cover. If you wait until you find out that you’re pregnant and don’t have suitable cover it will be too late.

Understanding Family Hospital Cover

Having a solid safety net in case your health ever fails is always a good idea, and that’s exactly what hospital cover provides. Depending on your level of cover, having private health cover means that you and your family may be able to choose whether to be treated at a public or private hospital, and depending on your policy, you may also have the privilege of being able to choose your own doctor with a private room.

At Frank we offer a range of health insurance plans to suit every budget and requirements. From Basic hospital which is our cheapest health insurance policy to best hospital cover, we have the policy to suit your budget.

Hospital cover covers you for in-hospital treatment by your doctor and any additional in-hospital costs, such as accommodation and theatre fees. In general, all the services listed on the MBS can be covered by private health insurance, depending on the specific policy.

Hospital cover is also the component that can reduce your tax and future policy prices. It may help you avoid the Medicare Surcharge which can be up to an extra 1.5% tax on your earning. In some cases, it’s cheaper to have a cheap health insurance family policy than pay this tax. Also, you can avoid health cover loading which makes health insurance more expensive every year if you don’t have cover after you turn 30.

What is extras cover?

While hospital cover insures you for those infrequent occasions when you might need serious medical attention, extras cover is more for your day-to-day health needs. This is why it continues to prove useful for people of all ages over the course of their lifetime. In this way, you, your partner and your children will be able to take advantage of your extras cover for a multitude of health purposes.

The best way to get the most value out of your extras cover is to pick a policy that suits your family’s lifestyle and your collective health needs. For example, if you suspect that your children might need orthodontic work done in a few years; this is a good extra to invest in alongside general dental as there are waiting periods for these services and the benefits paid for services such as orthodontics increase each year you are insured.

Extras cover is highly versatile; it can be purchased separately or combined with hospital cover. At Frank Health Insurance we offer a variety of cheap health insurance including some extras and lots extras which will cover you and your family.

Should I switch it up?

When your children are young, their bodies are constantly growing and developing. So it makes sense that their health needs would also change accordingly. This is why it’s important to always check that your private health cover is meeting the current healthcare needs of your dependants.

Chances are the first health insurance policy you purchase won’t be suitable for your family forever. Make a point of consistently re-evaluating your private health cover as time goes on, to ensure that you’re getting the most out of your policy at the current time.

When it comes to looking after your children’s health, having a helping hand can really provide you with peace of mind. This is why cheap health insurance for kids can be so beneficial for parents with young children. Having both hospital and extras cover by your side means that you can rest assured knowing that your family’s health will always be in the best of hands. Don’t forget that you may also able to take advantage of benefits such as the government’s private health insurance rebate!

When you’ve got the little ones to look after, it’s always best to have a financial safety net in place for any eventualities. This is why it’s a good idea to consider cheap health insurance for kids as soon as you can.

Join on combined hospital and extras cover by December 31 to get one month free.*

Get a quote *For new members (if you have been a Frank Health Insurance member in the last 12 months, sorry you don’t qualify). Must pay first month to receive second month free. Offer ends 31 December, 2017.