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  1. #1
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    Default Hospital only cover - no extras

    Hey all,

    We currently have both hospital and extras cover. I am pregnant and due with our first bub in Nov - so our family is expanding. We are going through the pregnancy through our hospital cover.

    It is costing us about $330 a month - which is soon going to jump to nearly $500 (!) after the means testing comes in next month.

    We are thinking about reducing to have hospital cover only - this will save us $1,800 per year! We have an optometrist in the family so don't need to worry about that plus when we use dental we end up more out of pocket then what we get back.

    Just wondering if anyone has used a lot of extra cover for a young child? What would a baby use?

    Thoughts?

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    Interesting thread. We have actually dropped our family cover to hospital only. It's currently DH, 16 month old DS and myself with another one on the way. We had chiro for DS when he was very little (about 3 months old) to help with neck development and flat head stuff but we also found paying for full appointments for this was heaps less than the extras we'd be paying on our cover.
    We may look at adding extras back to our cover once our 2 kids are closer to school age, but think it's a waste of money for us at this stage.

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    grumpysmurf  (06-06-2012),Qwerty  (06-06-2012)

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    Quote Originally Posted by Bundleoflove View Post
    Interesting thread. We have actually dropped our family cover to hospital only. It's currently DH, 16 month old DS and myself with another one on the way. We had chiro for DS when he was very little (about 3 months old) to help with neck development and flat head stuff but we also found paying for full appointments for this was heaps less than the extras we'd be paying on our cover.
    We may look at adding extras back to our cover once our 2 kids are closer to school age, but think it's a waste of money for us at this stage.
    Thanks - this is what we are thinking too. I just had a look at our policy and OT, physio etc (what I think a young bub might require) is capped at a combined total of $375 back ($750 max for entire family). So if we are paying $1,800 extra a year that doesn't really make sense.

    Sometimes I hate being the "researcher" in the relationship. So much responsibility!

  5. #4
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    We dropped ours a year or so ago. Even though two of us wear glasses and contacts it just wasn't worth it.

    Which makes sense really, the insurance companies always make sure we pay them more than they pay us! I imagine there would be some people who benefit, but am sure they are in the minority.

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    Quote Originally Posted by lambjam View Post
    We dropped ours a year or so ago. Even though two of us wear glasses and contacts it just wasn't worth it.

    Which makes sense really, the insurance companies always make sure we pay them more than they pay us! I imagine there would be some people who benefit, but am sure they are in the minority.
    I could definitely see it helping some people - maybe those without a constant cash flow to draw on (not saying we are rich but we do have money saved and can draw upon this quickly if something urgent pops up).

    I am leaning towards dropping it, will check in with the boss tonight

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    I would drop it for the kids when they are very young - if you need dental or optical maybe just keep it for yourselves? And then get it again when the kids are older.

    I just don't see how you will need it unless as you say you may need physio or OT but you can always get it again if you need it & there should only be a few months wait?

    We only have hospital cover for the family - no extras although I'm looking into dental only for us (not for DS) as I haven't been to the dentist in, wait for it, 14 years! Yes, I know, I'm revolting.

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    Our hospital and extras is about $250-$260 per month (after 30% rebate).

    I have contemplated dropping extras, but calculated that we probably claim more than we pay, as there are 3 of us and we visit the dentist twice a year each, and don't pay anything out of pocket for check up, scale and clean etc, and get quite a lot back for fillings.

    The types of extras cover I have used for my son to date have been dental and speech therapy.

    Although my new extras policy doesn't cover speech therapy, as I changed to one that covered fewer things, but you get a higher percentage back. For example, for a $65 physio visit, it only costs $15 out of pocket.

    Maybe try getting some quotes from other providers for cheaper cover generally.

    But, yeah, if you're not claiming that much on your extras, I would drop it. I link it's less "necessary" than hospital cover, as most extras are affordable if you have to pay for them anyway, versus private hospital treatment which is outside of the average person's reach at thousands or tens of thousands.

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  12. #8
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    Quote Originally Posted by grumpybump View Post
    I would drop it for the kids when they are very young - if you need dental or optical maybe just keep it for yourselves? And then get it again when the kids are older.
    Is this even possible? With our previous and current health fund we either joined as a single or as a family. Once there was more than one on the policy it doubled, but never increased again. So it wouldn't make a difference to our premiums if our children weren't covered by the policy.

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    I only have the hospital cover now (single). Three months before our babys born apparently i have to change it to a family cover so baby is covered.

    I used to have extras as well but it for me was a waste of money. I think that this health insurance price hiking has gotten completely out of control.

    After bubs born and after 2 years I may drop the coverage all together because the prices are just stupendous.

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    Quote Originally Posted by lambjam View Post
    Is this even possible? With our previous and current health fund we either joined as a single or as a family. Once there was more than one on the policy it doubled, but never increased again. So it wouldn't make a difference to our premiums if our children weren't covered by the policy.
    that was the same with the two policies I've had - the price was the same for two adults or two adults plus a child.


 

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