How long you can stay on your parents' policy depends on the fund. Generally, funds will have separate rules for child dependants, student dependants and adult dependants.
The table below summarises the age limits of each type of dependant for every Australian health fund. The dropdown below the table contains more information on the conditions imposed by each fund.
On 22 June 2021, the Private Health Insurance Legislation Amendment (Age of Dependants) Bill 2021 was passed, which will allow health funds to increase the maximum age of a dependant on a policy to 31. Age limits for dependants with a disability were scrapped completely.
There are a few reasons you might have to leave your parents' health fund and take out cover on your own. For example, if:
If one of the above applies to you, here are some of the cheapest health insurance options from Finder partners. They cover the basics you're most likely to need like emergency ambulance and dental.
In most cases, your health needs won't be the same as your parents', so why would you get the same policy? A 2017 survey conducted by Finder found that 28% of people took out cover with the same fund as their parents, which when you think about it doesn't make sense.
Take the time to sit down and work out what you want out of a policy. Hospital cover might not make sense to you at this stage of your life and that's fine. But, maybe you want cover for going to the dentist or visiting the optometrist. It's all about finding the value.
If you're young and fit, private health insurance can seem like an unnecessary expense, particularly once your parents are no longer footing the bill. Here's why it's a good idea to consider getting your own cover:
Whether you get hospital, extras or a combined policy will depend on your needs and can suit singles, couples and young families. But, it's all about working out which policy is right for you.
Hospital cover is designed to protect you against the cost of a wide range of in-hospital procedures. It includes cover for accommodation in either a public or private hospital, your choice of doctor, theatre costs and other expenses associated with your medical treatment. Hospital cover offers a long list of benefits for young singles, including:
Extras-only insurance provides cover for a wide range of out-of-pocket medical expenses that are not covered by Medicare. Sometimes also referred to as general treatment cover or ancillary cover, extras-only health insurance covers you for out-of-hospital medical services such as optical, dental, physio, chiro, podiatry, natural therapies and much more. There are plenty of reasons why young singles can benefit from having extras cover in place, including:
Combined cover is a health insurance policy that offers both hospital and extras cover in the 1 package. This allows you to enjoy the convenience of taking out the 2 main types of private health insurance – hospital cover for in-hospital treatment and extras cover for general treatments like optical and dental – in 1 policy. The vast majority of Australian private health insurers offer a range of combined cover options, and taking out this type of insurance has many benefits for young singles, including:
This guide looks at how health insurance can help to alleviate some of the costs of raising kids.