How to find the best health insurance in Australia

Do your homework

Depending on where you live, there can be around 200 health insurance plans for you to choose from. This can make finding the best health insurance plans in Australia difficult, but it can also be a positive, providing you with choice and opportunity. We are blessed in this country with one of the greatest public hospital systems in the world. However, public hospital waiting lists can be long, and it is unlikely you will be able to choose the doctor or surgeon you want if you are admitted. When it comes to treatments outside of a hospital, Medicare generally only covers us for appointments and tests. So, the best health insurance plans in Australia can work alongside Medicare and public hospitals to round off the quality of health care in this country.

This choice allows for flexibility and allows you the option of making the best health decisions for you and your family. It can be hard to pinpoint the best health insurance plans in Australia, because there is no ladder or official ranking. What is the best for one person may not be the best for another. And it doesn’t have to come down to price. The most expensive policies may be totally unsuitable for some people, and the cheapest policies may be the best option. It is also important to realise that cheap doesn’t mean bad, and that it really is a matter for the individual. And the beauty about finding the best health insurance plans in Australia is that they can change with you. What suits you now may not suit you or your family in the long term. In the meantime, the Australian Private Health Insurance Ombudsman releases annual reports on health insurance firms. They are all uploaded online. If you want to find out as much as you can about a health fund, this can be a good place to start.

Bronze Hospital & Bronze Extras Set Benefits

Entry level hospital cover. Includes preventative dental and optical.
$ 20.35
per week
Select

Bronze Hospital & Silver Extras Set Benefits

Entry level cover. Cover for a range of popular services that suit your lifestyle.
$ 24.35
per week
Select

Silver Hospital Plus & Bronze Extras Set Benefits

Moderate cover. Includes private hospital with some exclusions. Includes cover for preventative dental.
$ 29.90
per week
Select

Bronze Hospital & Bronze Extras Set Benefits

Entry level hospital cover. Includes preventative dental and optical.
$ 20.35
per week
Select

Bronze Hospital & Silver Extras Set Benefits

Entry level cover. Cover for a range of popular services that suit your lifestyle.
$ 24.35
per week
Select

Silver Hospital Plus & Bronze Extras Set Benefits

Moderate cover. Includes private hospital with some exclusions. Includes cover for preventative dental.
$ 29.90
per week
Select

* The price shown is per week and applies to a Single living in VIC with a $500 excess. It excludes LHC loading and includes a Base Tier Government Rebate

Join GMHBA on combined cover for your chance to be at the 2017 Toyota AFL Grand Final*

*For new health insurance members on direct debit. Must pay first month to be eligible. Prize does not include flights or transfers. Promotional period 4 August 2017 – 24 September 2017. Valued at $1000. view full terms and conditions.
NSW Permit No. LTPS/17/16360
AFL Authorised GF promotion: GFAFL 17/94

How do I know which plan is best for me?

A good place to start is at your GP’s.  Ask them about health insurance. They may surprise you and give you their own list of what they think are the best health insurance plans in Australia. At the very least they will able to give you some idea about the treatments and services that might benefit you and your family the most. Then, ask yourself a series of questions about what you need, want and expect from the best health insurance plans in Australia. Where in Australia will I most likely need frequent health care? Is there a specific hospital whose services I am most likely to need?

The answer to this question can limit your list of private health insurer choices. If you already have a preferred hospital, check with them for their agreements with health insurance providers. Doing this will allow you to visualize and compare the benefits of one insurance policy to another. Some private health insurers do not operate in all states and territories in Australia. Others like, GMHBA, operate in all. Next is your family. How many children do you have, how old are they, is there a family history of illness or injury, does anyone wear glasses, or do they play contact sports? Remember, the best health insurance plans in Australia can be either hospital or extras policies. Hospital cover can help you out if you are admitted to hospital. Hospital health insurance can help you avoid elective surgery public waiting lists, by giving you the option of being treated in a private hospital.

Other covers, such as our Bronze hospital policy, can provide you with cover in a public hospital only, as a private patient.  As a general rule, the better the level of cover, the more treatments you are covered for, and the higher the benefits you can claim. The same goes for extras cover. Extras in Australia can provide benefits for services you don’t usually go to hospital for, like dental, physiotherapy or chiropractic, even things like alternative therapies. At GMHBA we have three levels of extras cover – Gold, Silver and Bronze. Each of them work by providing either set or percentage benefits for treatments. For example, with our Gold policy, you can choose between having set benefits for treatments, of 75% benefit. If you choose 75%, for example, and a dentist charges you $100, you can claim $75 back, assuming you haven’t reached your annual limit.

Annual limits are a cap on the amount you can claim back on specific treatments in a calendar year. The percentage benefits are likely to differ across polices and across funds, but the principle will be the same. This can allow for an easier comparison when choosing between the best health insurance plans in Australia. Most funds, including GMHBA, also allow you to bundle extras and hospital cover together into one policy, and even mix and match the different levels of both kinds of policies.

What else should I know?

Obviously your budget can play a big part in choosing between the best health insurance plans in Australia. There are a number of offsets that may help make that choice a little easier. The Federal Government offers a series of rebates and tax incentives to help people afford health cover. These can vary depending on your age and your income. If you have extras cover, you can be eligible for the Australian Government Private Health Insurance rebate. This is a tiered system, designed to encourage people to take out health cover. The more money you earn, the less you can claim, but if you earn less than $90,000 as a single or $180,000 as a couple, single parent or family household, you can claim a rebate of anywhere between more than 26% to more than 35%. There are also tax incentives that can make it easier for you to choose between the Best health insurance plans in Australia.