Important Facts You Should Know About Private Health Insurance in Australia

Private health insurance companies in Australia have different policies. And it’s no secret that those policies can be confusing to the average person. Because of this, many misconceptions are making the rounds, making it difficult to settle for an insurance plan. But don’t let this prevent you from setting up a safety net for you and your family by getting a solid insurance plan that can meet your needs and those of your loved ones. It’s always better to be in the know. If you’re one who still doesn’t have health insurance because it is kind of confusing for you, here are some facts you need to know:Health Insurance

Affordable Health Insurance  

One of the most common misconceptions about health insurance is that the expense does not equate to the value. Because of this, those who are on a limited budget tend to just pass on the idea of getting it. True enough, there are expensive insurance plans. However, nowadays, there are more customizable options, making it easier to find a plan that suits your needs and budget. 

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An affordable monthly premium can be set up depending on the package you choose. Moreover, you can opt-out of items in your plan to make it even more viable and affordable for your needs:

You Don’t Have to Worry About Your Hospital Bills

Another thing that keeps many people from getting health insurance is the belief that they won’t be using it anyway. Well, you might feel fine today, but the truth is, no one knows what exactly will happen tomorrow.

If your health starts to decline or if an accident happens, and you don’t have health insurance, your finances might get affected negatively. Health insurance, however, takes away such worries as it can help you with your hospital bills and even medications, depending on the plan you’ve chosen.

Still, it’s best that you stay safe and healthy. Certain insurance plans only cover a part of your bills and the rest, you’ll have to pay on your own. This is why it’s important that you read your contract thoroughly, so you know what is and what isn’t covered.

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Some Plans Cover Gym Memberships

Health insurance plans are all about keeping you healthy. Insurance providers are actually going to benefit if you stay healthy which is why some insurance companies cover gym memberships. It is one of the best benefits of insurance plans that you need to put into good use. 

What’s great is that you’ll be able to enroll in the gym of your choice. However, keep in mind that most insurance providers partner with large-scale, often global, gym franchises, to appeal to as many people as possible.  These gyms are shown below (via CompareTheMarket) include Planet Fitness, Gold’s Gym, and Anytime Fitness.Fitness Clubs List
Before joining a gym the first thing you’d want to do is check if they follow the correct distancing protocols during this pandemic. While gyms are allowed to operate, they still need to follow guidelines that can help people stay Covid-19 free. 

Health Insurance that Comes with Perks

The good thing about having premium health insurance is that it lets you enjoy perks too. You don’t need to get caught in an accident, you don’t need to injure yourself, and you don’t need to catch a deadly disease either to enjoy your health insurance perks.

Read Also: Ways to Save Money on Prescription Drugs for Those Who Lack Coverage

Depending on your plan, your annual physicals, vaccines, and preventive screenings, to name a few, won’t cost you anything. Other services can be enjoyed with huge discounts too.

Insurance contracts can be confusing

Getting health insurance can be confusing, because of the way the contracts are written which can be very confusing for the average person.  Not to mention, you might even think that you just got scammed because you didn’t fully understand its policies as you’re not that familiar with the terminologies used.

There are many insurance terms that you need to know. However, naming them might take forever. But here are some of the most important terminologies you need to know:

    • Hospital Coverage – helps pay for a member’s hospital bills
    • Extras Cover – helps cover certain costs of non-hospital services, such as optical and dental services
    • Excess – the amount you need to pay towards your same-day hospital treatment
    • Gaps – Out-of-pocket expenses you’re liable for and the difference between the fees charged by a provider and your insurer.

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If you want to make sure that you are getting into a good plan, you should not shy away from asking for help. Sometimes, terms and conditions can be confusing. Worry not though as insurance agents will try their best to answer any questions you may have.

References

https://www.health.gov.au/health-topics/private-health-insurance/about-private-health-insurance

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