Finding the best health insurance policy

Choosing the best health insurance policy for yourself or your family can be a daunting task whether it’s your first time to get private health cover or you are looking at switching policies. There are so many options and stipulations available as every insurance company has its own individualised policies. It is impossible to make an informed decision by just looking at a few flyers or web page ads.

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

It’s important to realise that the perfect private health insurance policy can mean different things to different people. It may depend on several factors such as one’s financial situation, age, lifestyle, as well as what particular stage of life he/she may be at.

Private health insurance companies provide different levels of cover to be able to accommodate a larger demographic of people from all walks of life . Each company usually has a very basic level of hospital cover for people who want affordable policies and don’t necessarily see the need for an all-encompassing range of services. At the other end of the spectrum, every health insurance company also has a premium type of cover that offers a wide range of additional benefits that provides total peace of mind for the policy holder. It is important to decide which the best health insurance policy is for you.

Benefits At Each Policy Level

Even for the most basic and affordable types of health cover, different health insurance companies tend to offer different sets of benefits. For example, one of the best health insurance Hospital Cover options available to the general public in Australia today is GMHBA’s Bronze Hospital Cover. This policy allows holders to be admitted into a public hospital as a private patient. Having this kind of hospital cover offers multiple benefits such as the ability to skip long waiting lines that patients who rely on Medicare have to endure to get treatment, as well as avoiding having to pay the Medicare Levy Surcharge that the government requires for individuals who have no private health cover of their own.

GMHBA also offers flexible options for premiums by selecting diferent. You can choose the a hospital excess option of $500 per calendar year, which is an upfront cost you agree to pay in case you need in-patient care, if you want the lowest possible premiums. Or, you can choose to have no excess in the event of a hospital admission but your premiums will be slightly higher.

A mid-level of hospital cover that GMHBA Health Insurance offers is the Silver Hospital Cover. Your premiums will help cover the cost of treatment in a private hospital in a shared room. This policy also allows the policy holder to opt for a single private room, with a co-payment which is capped at seven days per admission.

At the top cover level, GMHBA offers the Gold Hospital Cover for total peace of mind. This level of cover allows for admission in a single room when available in a private hospital of your choice. It also has no exclusions as far as treatments go, and even includes haemodialysis and gastric banding procedures as part of its benefits. GMHBA’s Gold Hospital Cover also has extra options that let the policy holder lower their premiums such as eliminating the pregnancy cover and a Gap Saver option.

Considering Extras Cover?

For additional peace of mind, the best health insurance policy could have some extras cover included. This will provide coverage for general health services such as dentists, optometrists, chiropractors, physical therapists and other health providers. For GMHBA, extras also come in Bronze, Silver and Gold tiers. You can also get GMHBA’s Extras cover by itself without having to sign up for the company’s Hospital cover if you like its affordable rates and very reasonable medical benefits.

GMHBA also has combined packages for those people who love their exercise, which it calls the Sport & Fitness Packages. These are all-inclusive health insurance policies that offer both hospital and extras cover in one convenient bundle. GMHBA offers four tiers for its Sports & Fitness packages, namely: Fit Entry Package, Fit Standard Package, Fit Top Package and Fit Ultra Package. Any of these combined packages would be an ideal solution for people with active lifestyles and can’t afford any downtime when it comes to their sports or fitness training regimen.

Overall

The best health insurance policy will depend what your circumstances are and what you require for a health insurance policy. This would mean making a thorough assessment of your own lifestyle, and any changes you might be making in the foreseeable future. But in any case, even just picking up a very basic type of public or private hospital cover already offers tremendous peace of mind whenever unforeseen medical emergencies arise, compared to the alternative of having to settle for seeking treatment through the Medicare system. In the long run, private hospital cover pays for itself in a financial and practical sense, and offers more valuable returns in the form of peace of mind, as well as a sound and healthy body.