Common Private Health Insurance Discounts
Insurance discounts are an ally to those that may be searching for health insurance, as well as those that are currently in a policy. Perhaps you aren’t taking full advantage of your policy and other related options. Follow along for a quick rundown of some possible health insurance discounts that may be available to you.
Private Health Insurance and the Medicare Levy Surcharge?
When it comes to your health insurance, something you should be aware of is the Medicare Levy Surcharge. This is essentially an extra fee levied upon higher-income individuals who choose to use the public Medicare system rather than take out private health insurance. This surcharge was implemented to reduce the number of people relying on the public health care system, and it covers not only yourself but your spouse and dependents as well.
Should You Get Private Health Insurance?
The decision of whether or not to purchase private health insurance is an important one in Australia as in many other countries. While private health insurance is not a necessity, there may be several benefits to private health cover, both on a practical and financial level.
Paying for Private Health Insurance
Unless money is no object to you, then cost will be a consideration when you compare health insurance options. There’s a lot to learn and consider, but with some time and effort, you can get the coverage you want and feel confident you’re paying no more than necessary.
Private Health Insurance Rebate Basics
Luckily, there are many ways to lower private health insurance costs, and one of the simplest is the Private Health Insurance Rebate.
Are You Making the Most of Government Private Health Insurance Initiatives?
Regardless of whether you are purchasing a comprehensive policy in addition to your Medicare coverage, or just want hospital cover or ancillary cover, the bottom line is that purchasing private health insurance is going to cost you money. However, there are government programs that may help you reduce the overall cost of your private health insurance.
The Pharmaceutical Benefits Scheme: Reducing Medication Costs
The PBS is a program in which the government subsidises the cost of medicine for most medical conditions. By doing so, the PBS provides reliable and affordable access to necessary medicines.
Health Insurance and Lifetime Health Cover
The government’s Lifetime Health Cover initiative rewards you for taking out hospital insurance earlier in life, and adds a financial loading charge should you procrastinate.
Community Rating – What It Means and What To Do If You’re Refused Insurance
Community rating means that all Australians have affordable access to private health insurance. Everyone pays the same baseline premium for their health insurance and health funds are not allowed to discriminate.
Before You Switch Health Insurance Companies…
Switching health insurance has its own particular issues. There might be differences in the coverage offered by the old and new health insurance policies, and you may be faced with waiting periods, so proceed with caution.
Private Health Insurance Comparison for Beginners
There are of course a couple of basic terms and concepts that you may need to understand while making your health insurance comparison.
Will Private Health Insurance Cover Everything?
As you may know, any type of policy will always have its exclusions and restrictions. Nevertheless the types of coverage available in private health insurance are wide enough to include what you would reasonably expect.
Compare Health Insurance for the Whole Family
When you’re looking to compare private health insurance for the whole family, it may often be the case that a Family policy may provide the best value for money. Within this, there will be things to think about when you’re looking to compare private health cover that will benefit everyone.
Hospital Cover: Health Insurance for Inpatients vs Outpatients
If you’re not familiar with hospital cover, you might assume that it doesn’t matter whether you’re in hospital as an in-patient or as an out-patient.
What Medications Does Health Insurance Cover?
Australians can get cheaper medications through Medicare, courtesy of the Pharmaceutical Benefits Scheme (PBS). The PBS covers a lot of medicines, but not all.
Sports Injuries and your Health Insurance
Millions of people take part in sports related activities on a daily basis. Unfortunately, some of these people get hurt from time to time. No matter what type of sport you are playing, there is always a chance of injury. However, this alone is no reason to stay away. After all, sports can be a lot of fun.
If you have strong private health insurance coverage, you may not have as much to worry about in the event of an injury, as some costs may be paid by your health fund. That being said, there are still a few details here and there that you should keep in mind. You may think that all sports related injuries are covered by Medicare or by your private health fund, but this is not always the case.
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Know what is covered
As with any type of insurance, you need to know what is and is not covered by your policy. If you don’t know the answer to this question, contact your insurer for a detailed explanation. Although many types of injury and treatment will be covered, it is better to be safe than sorry. When it comes to your health insurance policy, knowledge is power.
Don’t Lie or Leave Anything Out
If you were injured playing sports, you need to be open and honest about it with any doctor or medical facility that you visit. If you stretch the truth, your diagnosis and treatment may be less effective based on incorrect or incomplete information about how your injury occurred. Tell your doctor what happened and deal with the insurance ramifications at a later date. Remember, the most important thing is that you get the help necessary to ensure your long term health.
Pre-existing Sports Injuries
When you apply for health insurance, you need to make your insurer aware of any preexisting conditions. And yes, this includes those that could be related to sporting injuries. Again, this is an area in which you have to be 100 percent honest. If you have a preexisting condition it is important that this is noted in your policy. Neglecting to do so could lead to your health insurance claim being denied should you need treatment for the same (or related) conditions in the future.
Medicare provides some essential treatments for accidental injury. However, there may be other insurance features and points of coverage available through private health funds. If you play sports, there is a good chance that you may need to receive medical attention for a sports related injury at some point in time. If you have health insurance that covers the types of sports injuries you’re most likely to experience, this offers some peace of mind, not to mention the fact that it will be more affordable then paying the costs yourself at short notice.
There is no denying your responsibility to yourself – how much do you know about your health insurance cover for sporting injuries?. Of course, this is something you may want to check on with your insurer to learn more about the finer details. Playing sports is fun and exciting, but getting injured can put a damper on your good time. As long as you have adequate health insurance cover for sports injury care, you may find this financial help with the costs of treatment very useful.