Private insurance may provide you with additional benefits, extended coverage, and access to services not typically covered under Medicare.
Yet with the cost of health care on the rise, many Australians like yourself are looking for ways to ensure they are getting the most out of their coverage, seeking out ways to maximize health fund rebates.
Private Health Insurance Rebate – what is it?
The Australian government has encouraged the use of privatized health insurance by offering a subsidy known as a ‘private health insurance rebate’ in order to offset the costs to end consumers. The amount of rebate owed is need-based, and calculated off of income levels.
How to Maximise Your Health Fund Rebates
1. Take Full Advantage of Benefits
We all get busy with life and work, but don’t miss out on potential rebates on health services that can benefit you and your family. Regular, routine dental care and visits rank among those services that provide incredible value and shouldn’t be missed.
It’s also important to note that some health funds run by calendar year and others by financial year. To be able to maximise the health fund rebates available, patients should therefore consider using their entitlements prior to their health fund ‘reloading’ as any existing health fund entitlements for the period will be lost if unused.
2. Review Your Policy Regularly
The terms of your policy, benefit caps, covered services, and service providers may change over time. Keeping up to date on these terms can help you maximise the use of your plan, increase rebates and even help you compare against other plans that may be better suited for the evolving health needs of you and your family.
3. Review Your Needs Annually or Bi-annually
The plan you chose last year or the year before may no longer be the best suited for your current situation and health. The internet makes it easy to get multiple quotes from online vendors, allowing you to compare and contrast plans with ease. You might just be surprised at how much you can save.
Give us a call today to learn more. We’d love to know more about how we can help.