Compare Health Insurance Plans Australia – Find the Best Policy with Utility Market
Finding a health insurance can be bit challenging. There are lots of policies, several types of cover and a bunch of fine print that can leave your head spinning. That’s where Utility Market comes to your rescue. We help Aussies compare health insurance plans across the country so you can find the best policy as per your needs without the fuss.
Whether you are after extras cover, hospital cover or a combo of both, making the right choice can save you a good deal of dollar every year. In this guide we will guide you through every possible thing you need to know to compare health insurance plans in Australia and make an informed decision that works for your lifestyle.
Why Compare Health Insurance Plans in Australia
Most Aussies think health insurance is just another bill to pay, but choosing the wrong policy could cost you a lot more in the long run. Comparing health insurance plans help you:
- Saving money on premiums: Not all policies are priced the same, even for similar coverage.
- Get the Right Coverage: Some plans have extras you don’t need, while others might miss essentials you want.
- Get rid of Hidden costs: Out of pocket expenses can sneak up on you if you are not careful.
- Maximising Extra Benefits: Things like optical, dental, physio and chiropractic add up if your policy doesn’t cover properly.
Types of Health Insurance Cover in Australia
Australia’s health insurance system might appear bit challenging at first, but it really segments three main types of cover:
Hospital Cover
Hospital cover helps pay for treatment & accommodation in a public or private hospital. Based on the policy tier- basic, bronze, silver or Gold, you are going to get several levels of service & benefits. Gold cover includes private room options, more procedures and shorter waiting times, while Basic cover provides essential treatment only.
Extras Cover
Extras cover is all about the things, hospital cover doesn’t cover. Think dental exams, glasses, physio, and even some alternative treatments. Extras cover can cost you a heap of money if you use these services a lot.
Combined Cover
Such bundle cover includes hospital & extras cover into a single policy, offering you with assurance that you gain coverage for both hospital care and daily health expenses. It is generally less expensive in comparison to purchasing individual policies.
Important Factors to Consider When Comparing Plans
While comparing health insurance cover in Australia, it is not only about cost. Here are some hand-picked points which needs to be taken into consideration:
- Premium Costs: The amount you are going to pay on a monthly basis may differ depending upon the age where you live and the degree of coverage.
- Waiting Periods: Certain services have you wait before you can claim, particularly for pre-existing conditions or extras services.
- Excess Options: Going for a higher excess can reduce premiums, but you’ll pay more if you do require hospital treatment.
- Gap Cover: Policies don’t always cover the full cost of treatment. Gap cover limits the amount of money you have to pay for specific treatment.
Keeping a track at these factors, you are able to make a choice, which is cost-effective in terms of coverage, so you are not shelling out huge bucks you don’t require or losing out on valuable benefits.
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