What is the best hospital cover for a family?
Before you start sifting through the many health insurance options out there, it helps to think about your needs based on a few key factors.
- Family type: Are you a single-parent family, soon-to-be empty nesters, or planning for more children? The age of your dependants can also play a role in determining the best cover for your family.
- Healthcare needs: Consider your family's current and future health requirements. Are there any pre-existing conditions or upcoming surgeries? You want to take these into account to ensure you have the right services included in your cover and are aware of any waiting periods that may apply.
- Budget: Decide how much you're willing to spend—whether you're opting for the most basic cover for tax purposes, or you're wanting more comprehensive cover.
Now that you have a better idea of what your needs are, it’s important to understand the four tiers of hospital cover: Basic, Bronze, Silver and Gold. The Australian government introduced these tiers to make it easier to compare options across different health funds, and to choose the right level of cover to fit your budget and needs.
Each level offers progressively more comprehensive cover. A settled family with no immediate health concerns may be satisfied with Bronze level of cover, while a family looking for added support during pregnancy and birth may opt for Gold as a starting point.
Be on the lookout for special benefits just for families, such as No Hospital Excess for kids*, and Private Emergency Department Benefit>, so when the unexpected happens you can just focus on their recovery and not worry about extra costs.
Extras cover for a family: what to look out for
Extras cover helps maintain day-to-day health with services like dental, optical, physiotherapy, and more. For families, it can help with common needs like braces, dental check-ups, speech therapy, and other health services that can add up over time.
Choosing a health fund with a large provider network can also be beneficial, as they often negotiate capped pricing for certain services. For example, here at Medibank, we offer members with eligible extras 100% back on up to two dental check-up and cleans per family member every year at a Members’ Choice Advantage dentist.=
Look out for additional benefits just for families, such as 100% back on included Extras for kids on Silver Plus Families, Growing Family extras cover and My Choice Extras at Members’ Choice providers, up to annual limits.##
What else should you consider when choosing family health insurance?
We hope you’re feeling more confident about picking health insurance for your family. Now that you know how to narrow your options, here are a few additional factors to keep in mind.
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Things you need to know
* Other out–of–pocket expenses may apply.
> We'll pay a benefit up to an annual limit per membership towards any admission fee ("facility fee") charged by the Private Hospital for patients attending a Private Accident and Emergency Department. The fee amount varies by Private Hospital and does not include medical and other charges (such as charges for diagnostic imaging or pathology), so out of pocket expenses may still apply. Only available at Private Hospitals with an Accident and Emergency Department. Members will need to submit a claim to receive the benefit and may have to pay upfront. Two month waiting period applies.
= Two month waiting period applies. Eligible members on Medibank extras (excluding Healthy Living Extras and Gold Ultra Health) can claim a maximum of two 100% back dental check-ups per member, per year at a Members’ Choice Advantage provider (including bitewing x-rays where clinically required). For members on eligible extras, the first two check-ups do not count towards your annual limit. Members with Healthy Living Extras can get 100% back on one dental check-up each year at a Members’ Choice Advantage provider (including up to two bitewing x-rays, where clinically required) or at a Members’ Choice provider (excluding x-rays). Members with Gold Ultra Health can get 100% back on up to three dental check-ups at a Members’ Choice or Members’ Choice Advantage provider. Members’ Choice and Members’ Choice Advantage providers are not available in all areas. Some products may have other dental inclusions, check your cover summary for details.
## Waiting periods apply, including 12 months for some dental services. For child (up to 21 years) and full-time student (up to 25 years) dependants. Members’ Choice providers not available in all areas.
+ The single parent/couple/family income threshold is increased by $1,500 for each MLS dependant child after the first child. 'income’ and 'dependants' have a specific meaning for Medicare Levy Surcharge purpose. Learn more.
While we hope you find this information helpful, please note that it is general in nature. It is not health advice and is not tailored to meet your individual health needs. You should always consult a trusted health professional before making decisions about your health care. While we have prepared the information carefully, we can’t guarantee that it is accurate, complete or up-to-date. And while we may mention goods or services provided by others, we aren’t specifically endorsing them and can’t accept responsibility for them. For these reasons we are unable to accept responsibility for any loss that may be sustained from acting on this information (subject to applicable consumer guarantees).