What to consider when comparing cheap singles health insurance plans

Is health cover for you?

When you are young and single, you might not have a lot of money left over at the end of the week, or at the very least not money that you want to spend on health cover. We know there can be way more important things to spend your money on and there are probably way more important things to spend time on than looking to compare cheap health insurance plans for singles. You might also think it’s something you won’t have to bother about until you are older. But you never know what can be just around the corner, and having cheap health insurance can help you cope with whatever that may be. Think about these stats for a second.

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* 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

According to the Federal Government, the most common 10-year age group for presentations to emergency departments across Australia is the 15 to 24 age group. The second highest group is those aged between 25 and 34. In 2014-15, more than 2 million people in those two age groups presented to the ED, which was about 28% of all cases.

Only about 20 per cent of people who turned up at ED were aged over 65. The other scary stat is that in 2015, the top 30 high claims for health cover members under the age of 30 exceeded payouts of $10,000. A 26 year old male claimed almost $450,000 after treatment for an aneurysm, and a 20 year old woman claimed more than $100,000 for schizophrenia. A woman aged between 25 and 28 was covered for almost $95,000 for 238 nights in hospital. While we know these sorts of cases don’t happen every day, it shows you how much health care can cost. So, spending time to compare cheap health insurance plans for singles might just be worth your while.

Where can I look and what should I look for?

Health insurance could be about providing cover for the big things like hospital admissions, surgeries, specialist care and recovery, but it could also be about the smaller every-day treatments you don’t go to hospital for, like dental, physio, chiro, remedial massage and optical. Another treatment to look for when you compare cheap health insurance plans for singles is psychology services, which you may claim once you are no longer eligible to claim Medicare for. You have probably grown up with Medicare, bulk billing and one of the best public health systems in the world, so private health cover can be something that has probably never entered your mind.

However, health funds like us work alongside Medicare and the public system to provide affordable and simple options and alternatives, as well as help provide benefits for treatments and services Medicare doesn’t cover.  There are two types of health cover – hospital and extras.  As mentioned above, hospital insurance can cover you for when you are admitted to hospital, whether it is for an emergency or for elective surgery. Hospital cover can help you avoid the public hospital waiting lists and can allow you to have the doctor or specialist of your choice. How much of your expenses are covered depends on your level of cover, the procedure and care given, and the hospital you stay in.

Extras cover is all about non-hospital treatments, like psychology, dental, alternative therapies and optical (and much more). The great thing is, if you are young and single, there are a lot of policies to choose from.

There can be about 200 policies on offer at any one time, from more than 40 companies. While that can be a positive, it can also be tough to know where to start to compare cheap health insurance plans for singles. There are a few things to consider that might help you get started. Look at the health treatments you use now. Do you go to the dentist as often as you should? Do you have glasses? Do you have regular migraines? All these kinds of questions can give you a good place to start. After that, think about your lifestyle.

Are there any health problems in your family? Do you play sport? Are you overweight? These questions can paint a picture of the sorts of treatments and services you might need cover for in the near future. Also, think about what you expect health insurance to be and how much you are willing to pay for it. That can make it easier when looking to compare cheap health insurance plans for singles. Once you have done that, you can look into what the different plans have to offer and how they work.

What is available at Frank?

We have a simple goal, and that is to make it as easy as we can for you to compare cheap health insurance plans for singles. We focus on providing affordable and simple plans that help make things that little bit easier to understand. We have four hospital covers and two extras covers. We also offer two bundled packages, which include both hospital and extras cover.  Our hospital policies – Best, Better, Basic (Some Private), and Basic – give you different options at different price levels. All health covers include waiting periods and hospital cover can include benefit limitation periods, which means for a time after the waiting period is over the cover may be lower for some specialist treatments. As with everything to do with insurance, make sure you find out exactly what is on offer before signing up. Our extras policies – Lots and Some – offer you the option of 50% or 80% back on treatments, up to the annual limit. The annual limit is the maximum amount of benefits you can receive on a specific treatment in a calendar year. Giving you the option of 50% or 80% benefits back allows you to tailor your policy to your needs even more, and can add to the flexibility when you compare cheap health insurance plans for singles.

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.