Health insurance policies range from extras coverage to full coverage policies that cover everything from maternity to braces. Families want health insurance that covers everything their children need. So we’ve put together a list of the best health funds available.
4 Best Family Health Care Funds
Australian Unity
You never know when your kids will get sick or hurt. You can’t afford to have a waiting period or lapse in coverage. This is a point in favor of Australian Unity. They’ll help you leave your old health insurance company, and they’ll waive the waiting period for the new policy in most cases. So you won’t have to wait to start a new policy if it has the same level of coverage. However, a waiting period applies if the policy has higher benefits than the fund you left.
Nib
One point in favor of Nib is that they have tailored policies for every life stage. Whether you’re an empty nester or just had a new baby, they offer health insurance policies that cover extras and essentials. Know that your teens are covered for riding accidents and braces, while moms-to-be can choose the best maternity hospital in the area.
Latrobe
Latrobe is a not-for-profit health fund, so they’re one of the most affordable health insurance options. They’ve been around since 1951, so you can trust that they’ll remain in business. They offer several hospital coverages and extras packages. Choose the cheapest policy that meets your needs. They make it easy to sign up online. You typically won’t have to wait to be eligible for coverage, though there are delays if you upgrade to a higher level of coverage.
TUH
TUH is another non-profit health fund. This one is member-owned. Nearly all the money they take in is paid out in benefits to members. This results in relatively low premiums. They provide online access 24/7 as well as an app. They give members access to quality care and access to tools that can maximize extras coverage. You can also take advantage of gap coverage to reduce out of pocket costs.
A Few Tips on Choosing the Right Health Insurance
Any of the insurers above will give you tiers of service. The basic tier is the lowest level of hospital coverage. It’ll let you avoid paying the Medicare Levy Surcharge and LHC. Bronze level coverage is necessary to get coverage for gynecology. This is the service tier you also need for most ear, nose and throat procedures such as tubes in your child’s ears. The next level up is the silver plan. This plan covers heart procedures, back procedures and dental surgery. This is rarely required for families unless you’re afraid of serious injuries. The ultimate level of coverage is the gold level. This is the tier you need if you’re planning on having a baby since this covers pregnancy and childbirth.
