Caring for your kids is important, and taking out a health insurance policy means you have the option of avoiding public hospital waiting lists, dental check-up bills and more. It’s also a golden ticket to looking after your health, because those kids need someone to look after them in the long run!
And yet, single parent families are the least likely Aussie demographic to have private health insurance, according to an IPSOS survey of thousands of people from 2015. The difference between this demographic and the national average is enormous: 39% of single-parent families have health cover, and the national average is 61%!
Take this as an opportunity to stay on top of yours and your kids’ health – and maybe even save some money. Let’s look at both hospital and extras cover for single parents, so you have all the information you need to take care of your family.
From bumps and tumbles to the chronic or less predictable, most of us have a memory of winding up in hospital for some reason. Having hospital cover can assist towards the costs of your stay at a private hospital, as well as any associated procedures undertaken while you’re admitted, depending on the product. You also avoid public hospital waiting lists with this type of cover. If your kids rely on you for care, this means you could be back on your feet sooner rather than later.
And as your kids grow, so will their propensity to start mischief at home – so it’s best to have them covered for private in-patient hospital care in case they get themselves injured. That way, they’ll be seen to in a timely manner at a selection of great Australian private hospitals. However, keep in mind that your health insurance will not cover private emergency room fees, since you’re not technically admitted into hospital. Your health insurance will come into effect once you actually need to be admitted to the hospital, or need further surgery following your emergency room visit.
Single parent cover typically comes at a similar price to family cover. With that in mind, focus on taking out cover with features you care about, for a reasonable price.
There are also rebates to consider. By taking out private hospital cover (or extras), you’ll be eligible to claim the Private Health Insurance Rebate, in which you’ll receive a percentage of your premiums back at the end of financial year – depending on your age and income. Only one parent can claim this particular rebate, so that will now be all yours to enjoy.
As a single parent, you need to be ready for anything your kids throw at you…sometimes literally! As they grow, you may need to pay for glasses, physiotherapy, or even orthodontic work. At least basic dental costs are partially covered by Medicare until they turn 17.
The upfront costs of these things can be substantial, but extras cover (sometimes called general treatment) will help you shoulder these costs. That means more money for you and your kids throughout the year!
If you’re in the process of separating from your partner…
Here are a few things you should keep in mind.
Luckily, you can compare a range of health fund options in one convenient place: this website! We present the information, and you decide what matters most to you and your family. Whether it’s extras, hospital, or combined cover, we can help you compare.
Make sure you’ve got your family covered for life’s unforeseeable hurdles at Compare the Market today. Call us on 13 32 32.