Health insurance and your relationship status
If you’re young and healthy, you might not be in a rush to get private health insurance. But here’s why you might want to consider it:
Avoid the Lifetime Health Cover (LHC) loading1: If you don’t have hospital cover by 1 July after your 31st birthday, you could pay higher premiums later.
Reduce your tax bill: Earn over $97,000? Private hospital cover can help you avoid the Medicare Levy Surcharge.
Get access to extras: Think dental, physio, optical and other perks that can help you stay healthy.
Beyond the tax side of things, it can be beneficial to have private health insurance at any age. Life is unpredictable. Private health insurance can help cover unexpected hospital visits and treatments.
Explore nib Singles Health Insurance to see what’s included or to get a quote.
When should you consider a couple’s policy?
A couple's health insurance policy can be a good option for you if you’re both aligned on what coverage you need and how much you’re willing to pay for private health cover.
This type of policy covers two adults with the same protection, making it a great choice for people who are viewed as 'long-term' partners by health insurance standards, which usually includes those who are married or in a de facto relationship.
And if you’re not a fan of personal admin, a couple’s policy could save you some hassle – one premium, one policy and one less thing to juggle. For example, you’ll only have one insurance premium to pay and you’ll only need to manage one policy.
What is a de facto relationship?
A de facto relationship is one where a couple lives together in a marriage-like relationship. The definition can vary depending on the state or territory. But generally, it involves factors such as the duration of the relationship, the nature of the relationship, the degree of financial dependence or interdependence and property ownership.
Is it more cost effective to get couples cover?
Switching from singles to couples’ cover could affect the cost of your health insurance. So before you make the change, review your couples cover options to ensure it meets your healthcare needs and fits in with your budget.
Your premium may also be affected by Lifetime Health Cover (LHC) loading1 which is calculated by averaging the total loading of both adults on a couple’s policy, so it can pay to explore all options.
Related: Why it’s important to review your health insurance
How do I add my partner to my policy?
If you and your partner are on separate nib policies, you can merge them into a couple's policy. If your partner is currently with another health fund, we can help you add them to your nib policy. We’ll recognise any waiting periods they've already served with their previous fund for the same level of cover. But if they’re upgrading to cover new services or higher limits, waiting periods may still apply.
Learn how to add your partner to your policy.
What about two singles policies?
While a couple's policy might seem like the obvious choice for some, it's worth comparing the cost and coverage of two singles policies. A couple’s health insurance policy may not be the right choice if you or your partner has different health insurance needs or want to be covered for different services. An alternative may be taking out two policies for singles so you can each tailor your cover to your health needs.
Sometimes, the flexibility and individual cover of separate policies can outweigh the benefits of a joint policy. For instance, if one partner has significant, declared health issues.
Related: How to choose the right health insurance for you.
Health insurance and separation or divorce
Breakups are hard enough without stressing over health insurance. The good news? It’s easy to sort out.
At nib, we’ve tried to make it easy to understand your options and talk to someone about changing your policy when you’re ready.
Can a separated or divorced couple share a policy?
When two partners separate or divorce, they can still stay on the same health insurance policy. Sometimes this may be more cost-effective, especially if they have accumulated LHC loadings.
Choosing the best policy isn't just about price. You might want to take out your own health insurance policy if you want to be covered for different services or have different health needs.
It's important to weigh all factors and choose what works best for your situation. Find out how to compare health insurance to get the most value.
How do I remove my ex-partner from my policy?
Removing someone from your health insurance policy requires authorisation from the policyholder. This is one of the safety-nets we have in place to ensure policy changes are only actioned by mutual agreement during a separation.
If you're removing someone from your policy, we'll ask for their contact details to inform them of their removal and discuss options for continuing their cover.
When your partner is removed from a couple’s or family policy, they need to contact us within 30 days to set up their own policy and we’ll backdate it to the removal date. This ensures they keep their coverage and avoid new waiting periods. They will need to pay for the days they were uncovered to keep their coverage continuous.
Need to make changes to your cover? Feel free to give us a call or chat with our friendly team members online.
What happens to your dependants?
After a couple separates, dependants can typically remain on one of their parent's policies until they reach 31. It's important for separated or divorced parents to communicate and coordinate their health insurance arrangements to ensure their children's needs are met.
Can I get a single-parent policy?
When adjusting your health insurance after a separation or divorce, you may wish to explore a single parent family policy, designed for you and your dependants. Contact us to discuss whether this option suits your needs. We're here to help you navigate this transition and ensure you find the right health cover for your family.
The bottom line
Your relationship status is just one of many factors to consider when choosing health insurance. Whether you're part of a couple or going solo, the key is to find a policy that provides the right balance of coverage and affordability for your situation.
Explore our range of health cover options for singles, couples and families and get an online quote in minutes, or contact us to have a chat.
1Lifetime Health Cover (LHC) is a Government initiative aimed at encouraging people to take out private hospital cover earlier in life, and maintain it. If you don’t take out private hospital cover before 1 July after you turn 31, you’ll pay a 2% loading on top of your normal hospital premium for each year you don’t have hospital cover (up to a maximum of 70%). The loading applies for 10 years of continuous hospital cover. For every year you put off signing up for hospital cover, another 2% will be added. So if you wait until you’re 40, you’ll pay 20% more than someone on the same cover who joined when they were 31.