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.
$ 21.50*
per week
Select

Bronze Hospital & Silver Extras Set Benefits

Entry level cover. Cover for a range of popular services that suit your lifestyle.
$ 25.55*
per week
Select

Silver Hospital Plus & Bronze Extras Set Benefits

Moderate cover. Includes private hospital with some exclusions. Includes cover for preventative dental.
$ 31.50*
per week
Select

Bronze Hospital & Bronze Extras Set Benefits

Entry level hospital cover. Includes preventative dental and optical.
$ 21.50*
per week
Select

Bronze Hospital & Silver Extras Set Benefits

Entry level cover. Cover for a range of popular services that suit your lifestyle.
$ 25.55*
per week
Select

Silver Hospital Plus & Bronze Extras Set Benefits

Moderate cover. Includes private hospital with some exclusions. Includes cover for preventative dental.
$ 31.50*
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

You can earn up to 50% off Virgin Australia Flights* with our V Plus covers

*Discount applies to eligible flights only.

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 the most basic and affordable types of health cover vary in their coverage, with different health insurancers offering different levels of coverage and benefits. Bronze hospital cover offers coverage in a public hospital, for a large range of services. Bronze Hospital Plus and Silver Hospital Plus cover you in a private hospital, with some exclusions and restrictions to reduce your premium.

GMHBA also offers flexible options for premiums by selecting different excesses. By choosing a higher level of excess, you can reduce your annual premium. An excess is the upfront cost you agree to pay in the case that you are admitted to hospital. You can choose to have no excess in the event of a hospital admission, but your premiums will be slightly higher.

At the top cover level, GMHBA offers the V Plus Ultimate 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, gastric banding procedures and pregnancyas part of its benefits.

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 families and single parents. Any of these combined packages would be an ideal solution for families with children and student dependants.

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.