(PRLEAP.COM) Private health insurance policy types and coverage levels can differ greatly between providers and - let’s face it - things can get a little confusing when it comes to checking all the Ts and Cs. Thankfully you don’t have to do this on your own - Choosi provides you with helpful and easy to understand information and our Australian-based call centre gets a kick out of answering your questions.
Here are some basic things to consider when you’re looking into the fine print.
A waiting period is the time between when a person applies for private health insurance and when they can begin claiming certain benefits included in their policy. They are served by new members, but generally don’t apply to people transferring from a different fund with comparable cover or when upgrading to a new cover limit. We can help you find out what waiting periods will apply, including the length and whether they can be waived at the discretion of the fund.
The definition of a ‘member’.
The definition of members, especially children, varies between policies. Choosi can tell you who is considered a member in your policy and if extended coverage costs more. For example, a dependent child covered under a family policy is usually defined as a child who is single, studying full-time and aged 25 or under. Other funds may stipulate the age limit as 21, up to 23 or something else.
Exclusions and limitations.
Some benefits may be restricted from your policy. For example, treatments may be limited to public or private hospitals only. It may be worthwhile excluding some benefits from your policy as, not paying for certain benefits coverage (such as a hip replacement for younger members - check for any limitations) could result in a cheaper premium.
Will you only be entitled to a certain amount of days in hospital or will you be required to pay a higher amount? What about benefit claims - what are the gaps, and are claims limited annually? If so, is it per member or per policy?
Pre-existing medical conditions.
Private health fund providers have the autonomy to set their own waiting periods for certain hospital benefits. For pre-existing medical conditions, funds cannot exceed the maximum 12-month waiting period set by the federal government. It’s good to know what your policy offers.
Some funds include ambulance cover as part of private hospital cover. Confirm if all types of ambulance transport (on-road and air) are covered, and to what extent (such as emergencies only or Australian-wide).
Remember, paying a higher premium doesn’t necessarily mean a private health insurance policy will provide a better level of coverage. Use our free comparison service to choose between a range of trusted insurance brands and be sure to call us if you have any questions.
Choosi makes it easy to compare, choose & buy - online or over the phone.