Here is a summary of the things you should consider
We've detailed everything you need to know about your results
Give our experts a call, or compare 400+ heath insurance policies on our website
Here’s what emergency transportation costs in each state
|State/Territory||Callout fee||Per kilometre charges||Current as of:|
|ACT||$936.00 (treatment & transport)||$12 per km travelled outside of ACT||1 July 2017|
|NSW||$372.00||$3.35||1 July 2017|
|NT||$745.00||$4.80||1 September 2015|
|SA||$955.00||$5.50||1 July 2017|
|VIC||$1,204.00 (Metropolitan Emergency Road) $1,776 (Regional and Rural Emergency Road)||N/A||1 July 2017|
|WA||$949.00 (life threatening/urgent conditions)||N/A||Unknown|
N.B. Information current as of April 2018
Guess what? You may be eligible for a Federal Government rebate on the price of your health insurance. If so, you can choose between a discounted premium, or claiming the rebate back through your tax return. The rebate amounts are as follows:
|< age 65||25.41%||16.94%||8.47%.||0%|
Hospital cover pays a benefit towards the cost of your treatment as a private patient in either a private or public hospital. Hospital cover pays benefits towards hospital accommodation, theatre and surgery fees, patient meals, prostheses, medical supplies, and nursing care for services and treatments provided in hospital that are included on your policy.
Also known as ancillary cover, an extras policy helps cover the cost of out-of-hospital services (and products) like dental care, physiotherapy, prescription glasses, occupational therapy and many other services that Medicare doesn’t cover.
Ambulance cover is also included in most hospital or extras policies, but some insurers will offer it as a stand-alone (emergency or comprehensive) policy. Depending on your circumstances and where you live, you may be eligible for complimentary ambulance coverage through your state. For more information check out our ambulance cover page.
It’s difficult to know when you’ll need health insurance, because often you never know when you’ll have to go to hospital. When you’re young and healthy, it may not seem like a necessity, but nobody is immune to accidents or certain ailments. As such, purchasing health insurance sooner, rather than later, is important and could save you money in the long term.
It can actually pay to take out hospital cover early in life as some health funds offer discounts on hospital cover of up to 10% to Aussies aged between 18 and 29. This discount lasts until you hit your 40s – if you hold and maintain your hospital policy or ensure you only switch to a policy that includes a retained age-based discount. This ensures that the discount you were eligible for with your previous policy continues.
Taking out hospital cover before 1 July following your 31st birthday could also save you from paying the Lifetime Health Cover (LHC) loading. LHC is a two per cent loading that is added to your hospital cover premiums for each year you’re over 31 and don’t have appropriate hospital cover.
So, if you were to take out hospital cover at 40 and hadn’t held this cover at any point since 1 July following your 31st birthday, you’d need to pay an additional 20% on your hospital premiums.
The cost of private health insurance varies between health funds and levels of coverage, along with where you live in Australia. The government offers income-tested rebates on private health insurance to help Aussies pay for their private health cover. For example, the standard rebate for singles (under 65) earning under $90,000 a year and families on a combined income of $180,000 is 24.608%.4 Your total rebate entitlements will depend on your taxable income, age, and relationship/parental status.
If you’re tossing up whether health insurance is worth the cost, you should first ask yourself if you can really afford not to have it. Remember that the possible out-of-pocket expenses linked to private treatment without private health insurance coverage could end up costing you more than the premiums you pay.
Children, like adults, can access free healthcare and hospital treatment through the public system. However, Medicare won’t pay for all the medical expenses your ankle biters will incur in childhood, like if they need braces or physio for broken bones.
So, adding your little ones onto your private health insurance policy might help you save on out-of-pocket expenses and give you greater say over their healthcare too. You can also choose their doctor or specialist (if they’re available) and avoid public hospital waiting lists.
The good news is that most health funds will cover your children at little or no extra cost when you upgrade your couples cover to a family policy. In fact, most health funds will cover them under your family plan until they turn 21, or 25 if they’re studying.