Health Insurance – which is the best?

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Many people want to be in a health fund, or are already.  We are often asked which is the best health insurance fund from a dentist’s point of view.  It is a difficult question to give a simple answer to, because everybody’s circumstances are a little different.  However, we can say for sure that rebates have not kept up with inflation.  It is also true to say that the larger funds have lower satisfaction ratings form their members than the smaller funds do. For instance, here are the Roy Morgan Research Health Insurance ratings for the current months ( March, 2018):

  1. St Luke’s Health (92%)
  2. Westfund
  3. Health Partners
  4. CUA Health
  5. Defence Health

Check out the article here:      http://www.roymorganonlinestore.com/BrowseCSA/Australia/Banking-and-Insurance/Private-Health-Insurer.aspx?month=3&year=2018&country=1

There are advantages to being in health funds: if you have a large family the rebates may outweigh your premiums, it can help you budget your dental fees – as you are receiving something back when you make a payment (usually), and it encourages people to have regular check-ups. But, on the other hand, most heath insurance funds put strict limitations on what treatment they will cover and premiums have risen considerably over the past decade while rebates have not kept up with the rising cost of living. so, think carefully before deciding to sign up for extras cover.

All in all, the best things you can do when choosing a health fund are to shop around and ask your friends and family about their experiences with their dental cover.  There are a lot more funds around that you may not have heard about and which are worth looking at.

Happy shopping!!!