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Although
some people see private health insurance as something only people
on a substantial wage can afford, the introduction in 1999 of
the 30% rebate saw a 50% increase in private health fund membership.
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The latest ABS survey confirmed that more
than 1 million people on household incomes less than $26,000
per annum have private health insurance. |
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2.4 million on household incomes less than $48,000 are
privately insured. |
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Almost half of the insured population have gross household
incomes less than $70,000. So nearly 4.3 million people
with hospital cover earn less than average weekly earnings. |
While premiums do go up due to inflation
and other factors, the 30% rebate has made cover much more
affordable. In fact when we compare the cost with average
weekly earnings, the rebate means health insurance costs us
no more in real dollars than it did in 1998.
Private health fund premiums may vary in
accordance with the cost of health care and the type of cover
you have.
Choosing a fund
1. Assess your own needs
You might feel spoilt for choice when you first look
for the perfect health insurance and because there are so
many options it’s a good idea to know exactly what you
need before you start. Things to consider include age, relationship
status, lifestyle and budget.
Singles: Many funds offer basic cover for
singles at lower premiums or extras cover tailored to your
specific needs.
Couples: Health funds can offer basic cover
or lower level of extras cover to suit your budget. Families
can tailor their own policies to meet their specific needs
or upgrade to include services such as orthodontics.
Seniors: The older you are the greater your
health needs may be, so it’s smart to choose a package
that covers the widest range of medical services. This is
where comprehensive insurance with extras cover and fewer
exclusions is important.
Questions to ask yourself before choosing
private health insurance:
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Do you have children or are you thinking
of starting a family in the near future? |
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Do you need ambulance cover? |
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Do you want physiotherapy cover for sports injuries
etc? |
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Are you happy to pay an excess in exchange for lower
premiums? |
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Do you want to use alternative therapies? |
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Will you need dental cover? |
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Do you want a package that will help pay for prescription
glasses or contact lenses? |
Questions to ask health
funds when shopping for a policy:
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Which hospitals have agreements with this
fund? |
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Can I choose my own doctor? |
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How long do I have to wait before I’m covered? |
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What will this give me that Medicare won’t? |
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What level of hospital and medical benefits are paid
under this cover? |
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What out-of-pocket expenses will I have to pay for? |
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Is ambulance cover included in the hospital cover? |
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Can I take out, say, dental cover for my children and
not for my partner and myself? |
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Does the fund offer protection against increases in
rates? |
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Do special limits apply to my general treatment cover? |
2. Australian health funds
Want to contact a health fund? All funds on the following
list are members of the Australian Health Insurance Association
and all are registered health benefits organisations under
the National Health Act of Australia.
From Overseas and need Health Cover?
All members of the Australian Health Insurance Association
are registered as health benefits organisations with the Commonwealth
Government and therefore comply with Government standards
and regulations on benefits and solvency.
If you wish to join a health fund, or wish detailed
information about what our members offer, try the links below:
Cover
for People from Overseas - visitors or temporary visa
holders e.g. Temporary Residence Subclass 410(Retirement)
Visa Holders?
Cover
for People from Overseas – students
(*For more detailed information on OVERSEAS
HEALTH COVER in Australia for people from overseas, please
visit the Australian Government's
Department of Health and Ageing website)
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