Health insurance comes in a variety of forms. It can range from emergency coverage that only kicks in when you have a serious injury, to all-inclusive benefits that subsidise everything from preventative care to wellness programs. It can cover basic services Medicare can’t and a wide range of complementary healthcare services. It’s a worthwhile investment, if you find the best coverage to suit your lifestyle. So here’s a few tips to get you started.

Consider Your Personal Needs

If you’re in good health and are only afraid of being hit with major bills if severely injured, then you may only need emergency health coverage. Hospital cover is a good choice here. If you’re getting older, you may want to consider personal health coverage. This comes with a lot of benefits and it allows you to see specialist straight away, avoiding the queues in the public healthcare system. If you’re planning on starting a family, personal health coverage with extras, hospital and ambulance cover will allow you to pay for any healthcare you and your family need. To find the best health insurance for your stage in life, visit iSelect.

Understand the Financial Impact

Many people choose health coverage based on the monthly premiums. But there’s a better way to run the numbers; try and determine what you’d pay in total for the expected usage of the policy. This includes what you’d pay in copays for service, the premiums you’d pay for the insurance policy and out of pocket expenses. You may find that health insurance saves you money, as it reduces what you have to pay for glasses, hearing aids, dental care and other services. On top of this, you may be able to avoid the Medicare surcharge if you’re in the high-income bracket.

Determine What You’re Willing to Pay for a Higher Quality of Life

Sometimes you’re willing to pay a little more. It could take the form of paying more for a better room or tour when on vacation. And it can take the form of private health coverage so that you can have a private room when delivering a baby at the best hospital in the area. You may consider the private insurance premiums worth it so you can see the doctor of your choice instead of the one you’re assigned. For older couples, private health cover can improve their quality of life in other ways. For example, you won’t have to wait in the public health system to see a specialist or book a date for surgery.

If you’re considering getting private insurance, sign up for it sooner rather than later. This eliminates the loading fees that start stacking up once you hit 31. The premiums will increase annually about 2 percent per year, though this caps at 70 percent. However, you don’t want to wait until your health deteriorates to get better medical care. The preventative care and proactive health programs in private health coverage will help delay or even prevent the development of many conditions.