There are many reasons to consider taking out private health cover in your 20s, and now there’s one more. Medibank has opted to offer discounts for 18-29 year olds on eligible hospital cover+.
But beyond the discount, there are already a number of reasons why it makes sense to take out private health cover in your 20s - some more well known than others. To help you make your own decision, we’ve drawn up a list of things you should know when making your decision.
1. Your health needs
Your health history, lifestyle and peace of mind are all important factors to consider when it comes to health insurance. For instance, if you play sport, you may be looking for cover that includes knee reconstructions -- one of the top claims for young Medibank members in their 20s. Maybe you want cover that pays towards dental surgery, in case you need your wisdom teeth removed and don’t want to wait in the public system. Or maybe you want the peace of mind of knowing you can choose your own doctor and have treatment in a private hospital. Keep in mind that waiting periods apply, including twelve months for pre-existing conditions.
2. Better health and value through your extras
When you think of health insurance, you might think of having cover for the unexpected. However, health cover is also about maintaining your overall health and taking steps to prevent further issues down the line.
If you take up extras cover, it can help you maintain good health through a range of non-hospital treatments, like dental, physio, chiro, optical and remedial massage. What’s more, with the right provider, you can get a lot of value, with Medibank offering 100% back on up to two dental check ups at a Member’s Choice Advantage dentist every calendar year, including x-rays (a 2 month waiting period applies)*.
And if you wear glasses, you can get 100% back on all optical items at recognised providers up to annual limits**.
3. A discount for 18-29 year olds
Medibank is offering a discount for 18-29 year olds who take out eligible hospital cover+. A person’s discount will depend on their age when they first take out hospital cover, and will range from from 10% (if they take out cover before the age of 25) to 2% (if they take out cover at the age of 29).