In recent times, health insurance has become a necessity for everyone. Especially after the devastating COVID-19 pandemic, people have started realizing health insurance’s importance.
According to a recent report, more than 25% of Australians had to deal with exorbitant medical bills in 2021-2022. When a person is hospitalized and doesn’t have a health insurance plan ready, they may have to incur heavy expenditures in the form of medical bills and hospitalization charges. That is what is happening these days across the country. Still, many people across Australia haven’t subscribed to a health insurance policy as yet.
Choosing the right health insurance plan is vital for everyone. It can protect you from bearing heavy medical expenditures during a serious illness. If you want to subscribe to a health insurance plan, do it at the earliest without further delay. Because you may never know when you or someone you know will have to go through an episode of a medical emergency.
What Is Health Insurance
Health insurance refers to a special type of arrangement between a person (insured) and the agency through which he or she can seek necessary medical care in the hospital of their choice during a serious illness. It also helps them pay for all other essential healthcare services that the government’s Medicare policy doesn’t cover. You should always buy a health insurance plan from a government-registered and licensed insurer in Australia.
If you have a valid health insurance plan, you can seek essential medical treatment at both private and public hospitals. However, a private health insurance plan also includes the cost you may incur while getting treated by your favorite surgeon or specialist.
Health Insurance Checklist: How To Choose the Best Insurance Provider?
Here are some essential factors to consider before hiring a health insurance provider:
Understand the Tiers of Coverage
Currently, four types of health insurance coverage are available for individuals: Basic, Bronze, Silver, and Gold. Each tier will have a minimum standard of treatment categories that you can expect at a private hospital.
If you wish to pay a minimum premium, go for the basic plan. Then, opt for silver or gold for more health coverage and premium treatment options.
Why Private Health Insurance
You may wonder why you should opt for health insurance when Australia’s public healthcare system is free. But the answer lies in your foresight. At the time of a health-related emergency, you can visit either a private or public hospital when you are up to date with your insurance plan.
The same won’t be true if you don’t have health insurance. Without health insurance, you must either visit an overcrowded public hospital for treatment or a costly private hospital. In the case of accessing private healthcare services, you’ll have to pay huge hospitalization charges.
Medical Treatments on Offer
If you are buying a health insurance plan, don’t forget to check the necessary terms and conditions mentioned in the policy paper. In addition, it’s important to know beforehand which services you can access at the time of a medical emergency.
If you are looking for a reliable private health insurance plan, contact Australian Unity for more details. It offers some of the best health insurance plans for couples, singles, and families. Depending upon the scheme and plan you subscribe to, the premium amount will be determined accordingly.
Services That Are Not Covered
Health insurance doesn’t cover everything. For example, the consultation fee you pay for a doctor’s visit and out-of-hospital blood tests and ultrasounds don’t come under the policy. A private health insurer won’t compensate you for such expenses.
Know The Waiting Period
Health insurance facilities are not provided to the insured immediately. The duration of the waiting period varies from service to service as prescribed by law.
Waiting periods for medical care and services at the hospital shouldn’t be more than one year for pre-existing conditions. Similarly, the waiting period can’t be more than 60 days in psychiatric or palliative care.
Insurance has always been a matter of solicitation. Before selecting a particular health insurance policy, you should read the full terms and conditions carefully. Don’t ignore any point. And whenever you are in doubt or want to know more, get in touch with your health insurance company without any hesitation.
After all, it’s a matter of medical emergency. You shouldn’t take any chances. Unless you are 100% convinced about a particular health insurance plan, how can you go on to buy the same? Let us know what you think.
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