Like many things in life if you buy in bulk you often receive goods at a discounted price, health insurance is no exception. Couples insurance is a lot less stressful than two separate policies; you may not even be married. Couples insurance is for anyone who wishes to combine their cover with someone else. There is only one premium to pay; this is a great idea for those couples looking to combine their accounts in general. Maintaining and claiming just one account can also relieve stress if something does go wrong, but aside from the strain and bureaucracy of two separate accounts, combining accounts can also save you money.
Here are some things to consider before joining your accounts together:
The Government Initiative for lifetime health cover rewards those who take out couples health cover before the age of 30. Under 30’s get the best premium rates as they are seen as the most healthy members of society. If you can lock down your premiums at this low rate you could hold on to them for life. After the age of 30, if you do decide to wait to think about health cover, there will be an increase of 2% for every year you put off buying, so it really is a good idea to get in touch with private health insurance companies as soon as possible.
The Medicare Levy Surcharge is an issue for some high income earners who don’t have cover at all so make sure you take out a complying policy to avoid this. But again, if you are on a combined policy, you can save on Medicare surcharges. The thresholds for singles are half those of couples. This can be great news for someone within a couple who earns a lot more than their counterpart and who individually might exceed the threshold. The thresholds can be really confusing for some people so for more information on what discounts you could receive by combining policies make sure visit Choosi. You may also save more money by using the useful comparison aspect of the site.