How to get more bang from your health insurance buck.
For every one of us, the day comes when we have to make an important financial decision that will have major bearing on our lives and the lives of our family members. While for some it may come when buying a house, choosing a school for the kids or deciding when to retire; for most of us it comes with the realisation that our health is our most important asset.
Don't discount the importance of your health
It's important to acknowledge there is no fitness regimen or diet to make us bullet proof or immune to life’s little ailments. This is particularly true for those who put their body under the stress that comes with working in the emergency services industry.
And while this acknowledgment will spur some of us to take out a private health insurance policy for the first time, many of us will already hold a policy for the invaluable peace of mind and flexibility in medical care that it provides… after all, you never know what’s around the corner.
That's when private health insurance comes in handy. Not only does it give you peace of mind and helps avoid public hospital waiting times during these sticky situations, a good policy can also deliver you valuable benefits such as the ability to choose your own doctor, more choice in when and where you are treated and the opportunity to recuperate in a private room after a medical procedure, if this is appropriate for your treatment and available.
However, it is important to remember that no two private health insurance policies are the same and each will contain different inclusions, exclusions, extras and excesses…. Sounds confusing? Well, the following represents a good place to start when it comes to securing a policy that is there for you when things go pear-shaped and also when things are looking like they may need a tune-up.
What are 'junk' health policies and who are they actually hurting?
When purchasing a policy don’t just focus on price and opt for the cheapest option. Many of these policies are commonly referred to as ‘junk’ policies because they are virtually useless in terms of health coverage and only really serve to provide tax benefits by helping holders avoid the Medicare Levy Surcharge.
Many of these ‘junk’ policyholders receive nasty surprises when claiming on things like hospital admissions, physio bills and ambulance services. In these situations, people often find themselves either significantly or completely out of pocket and these bills can run into the thousands. In short, trying to save $100 dollars in the short-term can end up costing you $10,000 in the long-run.
Comprehensive cover can make good financial sense
It is also important to ensure that your policy covers you for any situation, both good and bad. Life has a way of surprising you with tweaked joints, mystery ailments and even surprise additions to the family. As such, holding a comprehensive level of cover can make good financial sense… particularly for those who lead active and at times hazardous lifestyles such as firefighters, state emergency services, nurses or paramedics, and also those who volunteer and depend on good health to continue activities they are passionate about, such as surf lifesaving.
It’s also important to consider the excess on your hospital policy which is an out-of-pocket payment that you must outlay exclusive of any hospital policy benefits. An excess is typically payable upon each hospital admission. As expected, cheaper policies have higher excesses and higher value policies have lower excesses and in the case of providers such as Emergency Services Health, there is no excess at all for any adults and dependent children on its policies.
There is nothing more important than your health and wellbeing and that of your family
And this never rings more true than in the case of individuals and families who work in the physically and mentally straining provision of emergency services. These individuals require specialised cover that meet their unique needs. Not-for-profit providers such as Emergency Services Health do just that by providing private health insurance products, support, information and services designed to maintain the health and wellbeing of emergency service workers and volunteers, and their families.
By signing up to a Members Own policy designed specifically for their needs, emergency workers can perform their jobs as best they can with the valuable peace of mind that comes with knowing that they and their families will be looked after when required.
You can’t put a price on your health
Get the cover worthy of the sacrifices you make in protecting the community. Get in touch with us today!