Health Insurance Providers in Australia

Review your current hospital cover

On the face of it, hospital policies might look pretty similar. After all, the tiered system was designed to make things easier for everyday folks, with each progressive tier covering more clinical categories than the last. But that isn’t an excuse to rust onto a policy. 

For instance, you may find that a different policy offers a more competitive premium.  

Alternatively, your circumstances might have changed. As you age, you may want more hospital cover than you did previously. If you’ve moved to another part of the country, you might want to check that your health insurance provider has agreements with private hospitals near you. 

If you find a new hospital policy you like, remember to take waiting periods into account. Legally, health insurers can’t tack on waiting periods if you’re switching straight to a hospital policy that is the same or a lower level of cover than your old policy (assuming you served your previous waiting periods). If you’re moving on up the coverage ladder, you’ll likely have some waiting periods to deal with again.  

These rules apply whether you’re sticking with the same health insurance provider or changing to another fund. 

Review your current extras policy

Extras cover can vary a lot more between providers than hospital cover does. There are no standardised tiers here! While this can make it a little more confusing to compare options, it also means you can look for a policy that really matches up with what you’re after.  

But remember, it’s not just the services offered that make a great extras policy: it’s how much you can claim, too. As you compare policies, look over the benefit limits and how these apply. For instance, some may be on a per-person basis, while others may apply across the whole family.  

Similarly, check how much you could claim per service and how much you could be out of pocket. You might want to weigh this up against your potential premium and see if it equals value for money in your mind. 

And don’t forget that waiting periods matter for extras, too. Handily, you usually won’t need to re-serve waiting periods for benefits you had on your old policy. To make sure, it’s worth chatting with the health insurance provider.

Let us help

There’s no getting around it; shopping for private health insurance can be tricky business.  

But we can help you through the maze by comparing a selection of policy options from a range of participating health insurance providers. As with many tasks, an extra pair of hands can help you find what you’re after more quickly and with less head scratching. 

Consider a higher excess to save on your premium

Comparing health insurance options can be a great way to get a competitive premium. But you can also tinker with a hospital policy’s premium by adding or changing the excess and/or co-payment fees.  

Essentially, you could get a lower premium by agreeing to share a little more of the cost of your hospital bill by paying an excess or co-payment. Generally, the higher the excess or co-payment you’re willing to pay, the lower your premium.