What is the Difference Between Private Health Insurance and Medicare?To summarize The Simpsons “Won’t you think of the kids?”… well Billy Explores has! We know that health insurance is an important topic for all adults in Australia. Heck, the government provides tax breaks through Medicare. But children still need health insurance and care, which is why there are many options for children having stand alone health insurance policies or being covered as dependents under their parent’s health insurance policy. Read more below about how children can have private health insurance, then compare health insurance polices in Australia through Billy Explores!
Are there children-only health insurance policies?
It’s actually very rare in Australia to find a health insurance policy that only covers kids. You might find a health insurance fund that will cover just your kids, but that might not be the best way to spend your money. Most family health insurance policies cover your children and dependents without charging you any extra. If you don’t have a partner, you can also get health insurance for a single parent. The best thing to do is shop around and compare health insurance policies with your children as dependents.
How old do my kids have to be to be covered under my private health insurance policy?
Your children will still be covered by your family’s health insurance until they turn 25. After that, they will need to get their own private health insurance policy. Up until they turn 25 years of age, they are normally listed in one of three groups:
Dependant child – A dependant child is a person under the age of 21 who is not married and depends on the health insurance policy holder for money.
Dependant student – A dependant student is a non-married dependent between the ages of 21 and 25 who is in school full-time and needs money from the health insurance policy holder because they are not married.
Dependant adult – A dependant adult is a dependent between the ages of 21 and 25 who is not married and is not in full-time school (many health insurance providers will cover this category, but will charge an additional loading).
How old do you have to be to get your own health insurance policy?
If someone needs their own private health insurance policy and is under 16 years of age, you can usually get your own policy when you turn 16. But some health insurance companies will provide a health insurance policy to people even younger than that. Take five minutes to compare health insurance providers through Billy Explores and see if you can get a great deal on a child health insurance policy from our panel of providers.
What should you look for in a private health insurance policy for a child?
Some child-friendly features of a good family health insurance policy to look for are:
- Coverage for a dependent adult up to age 25 without paying an extra loading.
- No out-of-pocket costs if your child is taken to the hospital (most policies include this)
- No-gap extras benefits for kids (such as dental check-ups, teeth cleaning, fillings and x-rays)
- Cover the costs of pregnancy and IVF if you want to have a baby.