When it comes to choosing a private health fund that suits your needs and stage of life we are here to help you out with the best possible outcome to assist you to compare private health insurance options.
What to ask when you’re choosing health insurance
- Do you already have a private health insurance policy?
- What level or type of cover is needed?
- Who do you need to cover on the private health policy and are they eligible for Medicare?
- Do you have a budget that you need to work to?
What type of cover do you need?
- Hospital
- General extras cover
- Or both?
What’s your family or personal status?
- Single
- Couple
- Family
- Single parent
What’s your preferred payment method?
- Weekly
- Fortnightly
- Monthly
- Yearly
Are you eligible for the Medicare levy and surcharge?
In Australia, most of us contribute about 2% of what we earn for the Medicare levy when we file our tax returns. If you’re not covered by private health insurance and you make above a certain amount, you might get hit with an additional fee. This extra charge could be as much as 1.5% of what you earned that year. Sometimes, though, if you’re bringing in a good salary, it might actually save you money to get private health insurance instead of shelling out for the surcharge. If you need more details on how the Medicare levy works, you can check out the Australian Taxation Office (ATO) website.
Does the Lifetime Health Cover (LHC) loading apply to you?
The LHC loading is basically a push from the government to remind you to consider buying health insurance before turning 30. If you miss the boat and don’t have private health insurance by then, you’ll face a 2% extra charge on your premium for each year you wait past 30.
The good news? You don’t need to buy top private health insurance cover – just having basic hospital cover is enough to avoid the LHC loading. Make sure you compare private health insurers for the best deal and for the finer details on how LHC works, you can check out PrivateHealth.gov.au
What Private Health won’t Cover
- General practitioner visits
- Some specialist visits
- Visits to a public or private hospital emergency department.
Unless you’re a patient in hospital, it also doesn’t cover:
- X-rays or other scans
- Blood tests or other pathology tests.
What to ask your Doctor when being treated:
- What is the fee for my Procedure/treatment?
- Will your fee be covered by Medicare and my private health insurer, or is there a gap fee?
- If there is a gap fee, how much will that be?
- What are my options if I cannot afford the gap fee?
- Are there any other costs associated with my procedure/ treatment?
- What are the Medicare Benefits Schedule item numbers for my procedure/ treatment?
What to ask the hospital:
- Do you have an agreement with my private health insurer?
- Will I have a gap to pay at admission time?
- What will be my other out of pocket expenses while I’m in hospital?
When navigating private health insurance options, our comprehensive Private Health Insurance Comparison Checklist is your go-to guide. We’ll walk you through key considerations, from determining your coverage needs based on life stage to budget constraints and payment preferences. Covering insights into potential Medicare levies and Lifetime Health Cover loading, this blog will assist you to make informed decisions. Plus, we outline what’s typically excluded from coverage and provide essential questions to ask both your doctor and the hospital. Don’t navigate the complexities alone – compare private health insurers today and connect with our team to find the best fit for you.
Speak to one of our friendly team members about your options Call 1300 861 413 or email hello@health.compare
