If you haven’t already, it crucial to check that:
All health insurers, including yours, had to restructure their hospital policies into Basic, Bronze, Silver and Gold tiers. The Australian Government is enforcing these changes to help you:
Checking and comparing your policy is now a lot easier. Our online comparison panel streamlines this process.
All you need are a few basic details, like your age, life stage and the services and treatment you’re after.
Let’s take a closer look at some policy cover options and who these policies may suit.
As its name suggests, this is the most basic level of hospital cover. If you were previously on a low-level accident-only cover, you might’ve been moved to a Basic hospital policy if your insurer thought this category is your closest equivalent.
May suit: Those wanting cover for accidents and ambulances, and little else. It may also suit those taking out hospital cover to avoid the Medicare Levy Surcharge (MLS) or Lifetime Health Cover (LHC) loading.
A Bronze policy includes the minimum Basic policy coverage, as well as a minimum of 18 additional clinical categories, like diabetes management (excluding insulin pumps), medically necessary breast surgery, gynaecology, joint reconstructions and more.
May suit: Those who don’t have a serious history of illness or injuries or aren’t planning on having children soon.
Silver policies provide coverage of all the clinical categories of Basic and Bronze policies combined, which includes cover towards joint reconstructions (but not replacements), gynaecology, diabetes management and more.
Additionally, Silver policies offer cover towards eight additional clinical categories such as dental surgery, heart and vascular system, medically necessary plastic and reconstructive surgeries.
May suit: A standard Silver policy may suit those who aren’t planning on children for a while but want cover for a broader range of hospital treatments.
Silver policies may also suit those with a family history of heart problems or those with active lifestyles/ physical jobs.
Gold hospital policies are essentially the new comprehensive hospital policy covering all 38 clinical categories. As well as providing the minimum mandated cover from Basic, Bronze and Silver policies, Gold also includes cover for an additional nine categories:
May suit: Those planning to start a family. Gold policies may also suit older Aussies, those with chronic pain, or anyone needing a joint replacement.
It’s not too late to switch your policy to one that includes the benefits you need! Compare health insurance to find the level of cover that suits your needs and your budget.
