Many singles who enter into a long-term relationship end up bundling up into a combined couples plan. Bundling provides the obvious benefit of simpler billing management. So when should you consider getting a joint couples insurance instead of two separate singles policies?
A couples insurance policy is available to married couples or those in de facto relationships. The combined covers provide the same level and types of benefits to both members. Couples plans do not necessarily offer cheaper premiums than the individual plans but bundling has its benefits.
Combining helps you manage the limits better. You may have treatments or services you will need more often and your partner may have different services and treatments that he/she would likely leverage more often than you would. Selecting a combined policy could help you and your partner access more of the benefits than you would on your own. For common treatments or visits that both you and your partner would need regularly, some health insurance providers will offer expanded limits to ensure both of your needs can be met. In addition, depending on the combined income levels, you may get higher Private Health Insurance rebates when filed together.
If you are planning on having a family, couples insurance (and family insurance) covers often include pregnancy and birth services. There’s a 12-month waiting period so getting on the insurance including such benefits early is advised. Some policies will allow you to add a child at no extra cost while some will require you to transition to a family insurance plan (with waived waiting periods). So having a combined plan makes sense for couples who expect to grow into parents in the near future.
Remaining in two separate singles policies would only make sense if one of you has very unique needs and is likely going to claim most of the benefits or will need to get an extremely high level of coverage. Keep in mind, though, that you will need to meet the combined threshold for Medicare Levy Surcharge if you are in a married or de facto relationship.
Use our comparison engine to compare different types of policies to decide which one suits the needs of you and your partner best!
