Health Fund – Extra’s Benefits

Tips to get more value from your extra’s cover

Here we are in 2023, at the beginning of the new calendar year and it marks the point at which most private health insurance policy extras reset. This means that any benefits you have accumulated over the course of the year, such as those for physiotherapy or dental work, will be reset back to zero. Understanding why this happens, and how to make the most of your benefits, can help ensure that you get the most value out of your private health policy.

Following are some tips to help you make the most of your private health insurance policy extras:

• Know your policy: The first step to understanding your private health insurance policy is to know what it covers. Review your policy carefully and make note of any extras that are included, such as physiotherapy, natural therapies, chiropractic care, or dental work. Knowing what your policy covers will help you plan how to best use your benefits before they reset.

• Keep track of your benefits: Keep track of your policy extras throughout the year by checking your policy statements. It's important to know how much you have left in each category, which will help you plan when to schedule appointments or procedures.

• Use your benefits before they reset: Because most extras reset on January 1st, it's important to use as much of your benefits as possible before the end of the year. This means scheduling appointments for physiotherapy, optical or dental work before December 31st or making sure to use any outstanding benefits for things like glasses or contact lenses.

Some policies may have annual or lifetime limits on extras cover, while others may have unlimited or no limits. It's vital for policyholders to be aware of their specific limits on extras cover and to keep track of their claims throughout the year. Also keep in mind the cheapest health insurance isn’t always the best private health insurance especially when it comes to policy extras, these can vary dramatically.

Policyholders should also be aware that there are different types of extras cover, including general extras cover, which covers a wide range of health services such as dental care and physiotherapy, and specific extras cover, which covers more targeted health services such as psychology or acupuncture. The limits on extras cover may vary depending on the type of cover and the provider.

It's worth noting that policyholders can sometimes increase their private health insurance limits on extras cover by paying a higher premium, but this will depend on the policy and the provider. Policyholders should carefully consider their needs and budget when deciding whether to increase their limits on extras cover.

Private health insurance extras can be a valuable option for individuals and families who want to have access to a wider range of health services or who want to reduce their out-of-pocket expenses for medical treatment. However, it's important for policyholders to be aware of the limits on extras cover and to carefully consider their needs and budget when choosing a policy.

Chat to us Today

To compare extras and work out which cover is best for you speak to one of our friendly team members about your health insurance policies today. Telephone 1300 861 413 or email us hello@health.compare