Where do I find the greatest value cheap health insurance for singles?

Policies for singles do not need to be expensive and you can choose the level of cover you require. Some plans cover only treatment in hospital while others cover hospital an extras cover. With most private health insurance policies individuals pay their premium monthly which makes it more affordable for singles.

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* The price shown is per week and applies to a {LIFESTAGE} living in VIC with a $500 excess. It excludes LHC loading and includes a Base Tier Government Rebate

Becoming ill is stressful enough without having to worry about lengthy queues for treatment. Private health insurance can give the peace of mind to individuals that they won’t have to wait for the procedures or care they might need as the cost of private treatment will be covered.

Make sure when researching your policy you identify any medical needs that can be anticipated in the future and make sure they are included in your plan. Things like maternity coverage for example is an obvious must-have if you are looking a starting a family in the future as there is a 12 month waiting period and not all policies offer it. If you have a family history of heart disease, you may want to make sure your coverage includes the cost of cardiac screening tests and cholesterol-lowering drugs.

It is important to ask the right questions when looking at different policies and make sure that the policy suites your individual circumstances and budget. Some of the questions you can ask to make sure you are getting the greatest value from your policy are:

  • What are the waiting periods?
  • What is the excess?
  • What hospitals are covered by your fund and are there any treatment restrictions at your preferred hospital?
  • What are the out of pocket expenses?
  • What treatments are included in your extras?
  • Are you covered in your preferred hospital by your preferred practitioner?
  • What is the cost of the health insurance?

It is also important to know as a single that the Government wants all Australians to take out private health insurance. To do this they created a scheme called Lifetime Health Cover which results in a 2% penalty loading on top of your health insurance premium if you don’t take out health insurance on the 1 July following your 31st birthday. The 2% penalty will apply to people over 30 years of age until they hold health insurance for 10 years; it will then cease. This scheme is to encourage people to get covered for life, even it means you just choose a cheap health insurance singles policy while you are young.

The Medicare Levy Surcharge is a surcharge on top of the Medicare Levy you pay if you don’t have private hospital cover. Usually it costs less to take out basic hospital cover than pay the Medicare Levy Surcharge. If you earn over $90,000 and you do not have Private Health Insurance you will be liable to pay an addition 1-1.5% of your taxable income to the Medicare Levy Surcharge. A singles cheap health insurance policy from frank will often be less than that this tax so it makes sense to get covered.

So to find the greatest value cheap health insurance for singles look no further than Frank Health Insurance. Frank gets that you don’t want to pay more than what you have to. And being on a budget won’t stop you from being covered at Frank. With Health Insurance at Frank you will have the peace of mind without breaking the bank. And if you are after some extras like dental an optical Frank can help you out there too.

Join on combined cover before the end of February and skip 2 and 6 month waits on extras*

Get a quote * Available to new members only from 16 January until 28 February 2017. 12 month waits, annual limits and sub limits apply.