Trick to save on yearly extras plan – NEWS.com.au

Before your extras cover resets, there’s one important check you need to make to help you save on your health insurance.

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If you take regular trips to the chiropractor, dentist or optometrist, the costs can quickly add up every year.

That’s where extras cover comes in handy to help lower your out of pocket costs while being treated for ongoing aches and pains.

However, the last year of lockdowns may have prevented you from attending your regular appointments, resulting in lost benefits after your health fund resets your extras.

If you want to make the most out of your health insurance policy, here’s how you can plan your extras usage effectively in 2022.

First of all, what is extras cover?

Extras cover is a health insurance policy that covers some of the cost of various general treatments that happen outside of a hospital and aren’t covered by Medicare. It is separate to hospital cover, but can be purchased in combination with hospital insurance.

Extras services range from trips to the dentist, physio, psychologist, chiropractor and optometrist.

The products and services covered by extras health insurance will vary depending on the policy and level of cover you choose.

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What is an annual limit? And how can that help you plan extras usage?

Bupa’s Director of Australian Health Insurance Chris Carroll said the limit refers to the maximum dollar amount you can claim on a particular category of health service over the course of a calendar year.

“A customer’s annual limit for their Extras will vary from policy to policy which is why it’s important to select a product that matches your personal health needs as well as your budget,” he said.

Claim limits are common for most types of insurance and are dependent on the individual member’s health insurance policy and coverage with their health fund.

Private health insurers reset their extras limits each year usually on either July 1 or January 1.

iSelect spokesperson Jessie Petterd advised that as these dates approach it’s a good idea to check your claims history to see what you’ve already claimed, and what you still have available.

“With most funds, you can check your claims history easily either through an app or via an online portal,” she said.

“Otherwise, give your fund a call and they’ll be able to provide you with your claims history.”

Could you save on your extras cover?

How to plan extras cover for the year

If you find you still have benefits available, Ms Petterd advises members to make the most of them.

“Find time to squeeze in a dental check up, a physio appointment or massage before your extras reset date approaches,” she said.

“If your benefits reset on January 1st, this could be a good time to pick up new glasses or contacts for the kids or yourself before the new school or work year begins.

“And don’t forget to check any benefits your partner or kids may still have available to ensure everyone covered by the policy is getting the most out of it.”

It’s important to remember that some funds offer lifestyle benefits that can be handy between seasons, such as approved gym memberships and swimming lessons, or benefits on hats or sunscreen during summer.

“If you have unused benefits available for physio or chiro, winter could be a good time to book these in to try to combat any nasty winter colds or flus floating around.”

Mr Carroll encourages members to “utilise their Extras as advised or required by their health care professional.”

“Because your health needs aren’t cyclical, there will be some years where a customer claims their entire Extras allowance and other years where their health situation sees them use significantly less,” he said.

Utilising your extras before the end of the year is not only good for your health, but it can help your wallet as well.

“For customers who have been in lockdown, it’s actually a timely reminder as restrictions ease to book in for those preventative health check-ups like a dental clean or an eye or hearing test,” he said.

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How to save on extras cover

iSelect spokesperson Jessie Petterd said it’s important you review your extras regularly to help save you money on your extras cover.

“If you don’t think you’ll use them, why pay for them?,” she said.

“You could consider flexible extras products that combine your separate extras limits into a single annual limit for you to use across different services, enabling you to get more back on the services you use the most.”

Bupa’s Director of Australian Health Insurance Chris Carroll said customers should take the time to compare providers and also their network coverage, such as Bupa’s Members First Extras Network which can offer them gap-free or known-gap treatments.

“For those with children, our range of family packages, most kids’ dental and physio visits, chiro, podiatry consultations and selected glasses, are gap-free at Members First providers up to yearly limits,” he said.

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