Will Couples Health Insurance Save You Money?

We’re all looking for ways to save money, and if you’re a spouse and have private health insurance, combining policies may be something that’s crossed your mind.

Alix and Adam from Brisbane, both 34, have been together for 10 years with different policies.

“We looked at getting a blanket policy about five years ago, but it would have been the same price as individual policies, so we didn’t think it was worth making the switch,” says Alix.

They are considering exploring their options again – not only for possible financial gain – but also because they believe combining may be easier to manage.

We spoke to health insurance experts and relationship gurus about what to consider before making a financial commitment to couples health insurance.

Is your connection ready?

Before considering a joint policy, Relationships Australia NSW chief executive Elizabeth Shaw recommends discussing your individual motivations for doing so.

She says issues you can cover might include:

  • To what extent do you want to intertwine with each other and why?
  • Is your picture of a successful relationship covered by the belief of merging everything?
  • Is it too early in the relationship to consider this step?

Ms Shaw says just because something is financially practical doesn’t mean it’s right for you.

This is especially true if there is a financial imbalance in the relationship.

She recommends seeking separate advice from either a financial expert or even a trusted friend or family member to discuss money matters.

“As unromantic as it sounds, every decision has to be tested against: what if this relationship ends? One of us dies? Make sure I consider all the possibilities,” says Ms Shaw.

Are there any savings?

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