Single Mom’s Health Insurance

Any parent would want to have a medical insurance for their child. They will search the best protection for their children. Today there is ever increasing percentage of single parents.

This is the reason why many government programs and private companies are offering health insurances, which are economical. This facility should be availed by single moms.

Advantages for single moms

In early times single parent use to pay same amount for the health premiums, just like any other normal family, however, today things are different. Changes were made to the risk equalisation arrangements, which have led to the development of economical premiums for single moms or single parents.

Now single moms can save extra money on their health insurances. Today private health insurances are offering great benefits for single moms. There are different private health insurances available for single moms. Compare these insurances and then pick the right plan for your family.

The advantages of health insurances:

  • With health insurances you can chose your doctor and hospital.
  • You can even get your own private room for treatment with right health insurance plan.
  • The health insurance will include the doctor’s fee, fee for any specialist reference and other miscellaneous cost at hospital.
  • You have extra freedom to choose the timing of your treatment or surgery.

Do you know about medical levy surcharge?

Medical levy surcharge is the extra 1%, which you will have to spend if you do not have a right plan, which covers your hospital charges, and if you have a particular threshold income.

The specified threshold income for single parent in this surcharge is over $154,000. All those single moms who are earning more than $154,000 must opt for a good health insurance.

Lifetime health cover

This plan is designed by government to motivate people to have a lifetime health cover. If you are paying continuous hospital covers, you can get a health insurance premium for your entire life.

in case if you miss the cut-off date and age you can pay 2% extra to the base premium of health insurance for each year above 30 years of age even without hospital cover. This lifetime health cover is applicable to the hospital cover charges.

Save on your health insurance plan

You understand the value of money when you are a single parent. You must know about some tips on how to save money on private health cover.

There are different health funds available in the market. Always compare the health insurance quotes with these health funds.

Try to pay year’s premium in advance, which locks the previous year’s rate. This way you save if the annual rate rises.

If you are paying by direct debit, health insurance plans give you additional 5% discount

Check for gap payment this is the extra payment which a specialist charges. In case your doctor has agreed to the gap payments, you can easily avoid the extra gap charges.

Always choose the health insurance plan, which includes your needs. Try to include maximum benefits like optical, dental, physic etc. These plans are good, cheaper if accumulated in one plan, and they cover well-being of your family in total.

Leanda Bailey
 

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