Things young people love about health cover

There are so many things going on in your life when you’re young that health cover is hardly top of mind. We’ve uncovered some research that tells a pretty interesting story about young people’s attitudes towards health cover.

Here’s what we learned about what young people love about health cover.

Not-for-profit health funds

Young people are idealistic and all about putting people before profits.

Under 25s are twice as likely to join a not-for-profit health fund like Peoplecare.*

Peoplecare is a Members Health Fund, collectively represented by the magenta line in the line graph above.

The Members Health Fund Alliance is a group of more than 25 health funds that “are not-for-profit or part of a member-owned group, regional or community based, and who all share a common ethic of putting their members’ health and wellbeing before profit.” Some of these health funds are only available to certain workers, like Teachers Health, Police Health and Defence Health. The good news is that Peoplecare is a not-for-profit that is open for anyone to join.

How do I read the graph?

Under 25s are joining hospital cover at Members Health Funds at more than twice the rate of the rest of the industry (3.65% growth in June 2021 versus 1.34%).

There are so many good reasons to join a not-for-profit health fund. Members Health Funds give more back in benefits. It’s a pretty simple decision – would you rather have your money go to shareholders or back to you in benefits?

* Figures from Members Health Fund Alliance

The greater good

It’s important to remember that hospital cover is designed to encourage people on higher incomes to use the private hospital system so that those who rely on the public hospital system can get the treatment they deserve without waiting an age.

Young people recognise this. A large 73% of young singles agree that private hospital cover takes the pressure off public hospitals. ^

Australia’s health system is completely different from other countries. For example, in the US, you need a job to get access to reliable health care. We love the fairness of Australia’s health system, which has a free public system for all, with the option to access privately run health services more quickly if you or your health fund pay for them.

Elective surgery and COVID-19

What occurred during the peaks of COVID-19 is that the public systems delayed some elective surgeries to deal with the surge of emergency admissions, facilitate vaccination hubs and minimise the spread of COVID-19.

The good thing about our hospital cover is that it allows you access to private hospitals that are less likely to delay elective surgeries. Most people use elective surgery because a health condition is impacting their quality of life. No one wants to wait for a long time while they’re being held back from their healthiest life.

Check out our latest recap of public hospital elective surgery waiting times.

^ ‘Health Care and Insurance Australia 2019’, IPSOS

Did someone say extras?

It’s not surprising that young people are attracted to extras like prescription glasses or contacts, dental services, massage and physio. Extras cover is generally much more affordable than hospital cover and it is also quite targeted to common services that are front of mind like Services to look after your eyes, teeth and body while you’re well.

A huge 87% of young singles say that extras cover plays an important role in improving overall health. ^

In many respects, extras cover is a different beast to hospital cover. Extras cover gives you cover for regular things you know you’re going to claim for. Hospital cover is more like regular types of insurance where you’re covering yourself for a big unexpected expense.

As a guide, we normally point young, fit & healthy types to our cheapest extras cover, Simple Extras. It has the essentials for people who want to try Extras for the first time to get the base level optical, dental, physio + much more to make your life easier.

^ ‘Health Care and Insurance Australia 2019’, IPSOS

The best deal

More than 460,000 Aussies under 30 get an age-based discount on their hospital cover.** If you don’t yet have hospital cover, read our info on the age-based discount and give us a call on 1800 808 690.

** Australian Department of Health, ‘Private Health Insurance Reform Data’, Released 9 September 2021