T-minus 10 days to use your extras benefits

Richard Laycock 21 December 2017 NEWS

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Make sure you're getting the most from your extras before annual limits reset.

With Christmas just around the corner and New Year's not far behind, most of us are frantically trying to close out any outstanding tasks before the holiday season officially kicks off.

But one item that often falls through the cracks is making sure we've gotten the most out of our extras benefits.

On 1 January each year, the annual limits on your extras benefit may reset. This means that you only have 10 days to use these benefits that you've already paid for before they're gone. So, if you're needing a dental check-up, physiotherapy or some new glasses be sure to get an appointment before the year is out.

Not all funds reset their annual benefits on 1 January, some funds reset their benefits at the end of the financial year, so make sure you check to see if your time to claim is almost up.

If you're not sure how much you can claim, get in touch with your health fund and find out. There's nothing worse than paying all that money for something and getting nothing in return.

A survey conducted by finder.com.au in April 2017 found that 15% had not claimed on their extras policy in the last year. That means of the roughly 13.5 million (Private Health Insurance Quarterly Statistics September 2017) people with cover for general treatment (extras), over 2 million didn't use it.

The survey also found that while general dental was the highest claimed benefit, it was only claimed by 62% of those surveyed.

Don't pay for cover you don't need. If you haven't claimed on your policy in a while, it may be time to review your policy. Compare your options today to make sure you're not paying more than you have to for your private health insurance.

Compare your health insurance options today

Picture: Shutterstock

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