There are health insurance policies that fit every stage of life. When it comes to health insurance plans, there is no one-size-fits-all product. Your insurance coverage needs will change as you age and go through different stages of life. It’s a good idea to have health insurance no matter what age you are. Whether you are single, a young couple planning a family, or looking ahead to your Golden Years, you never know when health insurance will come in handy.
Health Insurance for Young Adults
Even if you are a healthy young adult now, it’s still important to have a basic level Hospital Cover. In Australia, you can avoid tax implications by purchasing Hospital Cover before you turn 30. You can avoid paying Lifetime Health Cover loading with Hospital Cover. Waiting until after you turn 30 to get health insurance will result in a two percent penalty for each year you were without coverage in addition to your insurance premium.
Getting Hospital Cover before 30 years of age also means avoiding paying the Medicare Levy Surcharge tax. The Extras options that come with Hospital Cover help with dental, optical, and chiropractic services. This kind of basic insurance is ideal for young adults up to middle-age who don’t intend to start a family or have delayed starting a family.
Health insurance for Adults and Young Families
Adults and young families who are either expecting a child or planning a family in the future will benefit from a health insurance plan that has extra benefits. Not all insurance companies cover the costs of IVF and fertility treatment. Even with public health care, having a baby is expensive. Health insurance comes with additional benefits like gap coverage for Medicare, private hospitals and rooms, antenatal and postnatal classes, and the choice of an obstetrician.
Couples who have finished having children and don’t need obstetrics coverage need to think about their children’s health care. Children and teenagers need vaccinations, routine health checks, dental exams, and in some cases access to specialists for problems with hearing or vision.
Children develop language within the first three years based on what they hear. Hearing loss can impact a child’s speech and language development, which is why it’s important to visit a pediatric audiologist. Children of all ages can suffer from hearing loss, from infants at 6 months of age to adolescents. Damage to the hearing nerve of the inner ear causes hearing loss. Left untreated, a child could go eventually go deaf. The sooner a child’s hearing is tested, the sooner they can be fit for hearing aids.
Hearing Health USA is an industry leader in hearing healthcare. The highly skilled hearing specialists deliver cutting edge technology and professional services, from fitting your child for a traditional hearing aid to cochlear implants in the inner ear. An audiologist pediatric will conduct a hearing test to determine the type of hearing loss and use further diagnostic testing depending on the child’s age and developmental level. With locations across the United States, Hearing Health USA is the best when it comes to pediatric audiology and hearing health.
Health insurance for established adults and families.
As you mature from middle-age to retirement-age, it’s important to prioritize staying on track with your health. Some health insurance plans will allow you to keep adolescent children covered with dental insurance, vision services, and physiotherapy coverage. Most insurance companies are strict about coverage for pre-existing medical conditions. It’s a good idea to get a quality Hospital and Extras policy that covers heart problems and age-related issues before they happen. It should be easier to afford health insurance at this life stage, and the extra benefits that come with an insurance policy are well worth it.
COVID-19 has but healthcare at the top of everyone’s’ minds. Having health coverage gives you the peace of mind that you are protected from unexpected medical bills and treatments. Instead of researching the health insurance marketplace for the right health plan compare health insurance with iSelect.com.au.
Medicare benefits are very limited. It only covers 75 percent of medical costs meaning you have to pay the remaining pocket cost. Taking out additional health coverage can help cover the costs that Medicare and Medicaid won’t. Take the guesswork out of exclusions, special enrollment periods, open enrollment, and more by comparing your health insurance with iSelect.
No matter what stage of life you are in, health insurance is a smart investment.