Private Health Insurance Explained
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With so many changes to the private health insurance industry, it’s hard to keep up with what the right policy is for you and your lifestyle. Thankfully our friends at Bupa have put together the below article to help you to decide what Health insurance means and why it might be right for you.

Private Health Insurance means
  1. More control if you need to go to the hospital for non-emergency treatment. You’ll have more choice when it comes to your hospital, your specialist and when you’d like your treatment to take place. You might also be able to request a private room.
  2. Reduced wait times for non-emergency hospital treatments at a private hospital. If you’re not privately insured, you could be on a public waiting list for months.
  3. The ability to claim money back on Extras cover for some everyday health services that may not be covered through the public system.
  4. You could avoid the Australian Government’s Lifetime Health Cover (LHC) loading if you take out and maintain Hospital cover by July 1 following your 31st If you don’t take out Hospital cover by this time, then you will pay an additional 2% LHC loading on top of your Hospital cover every year you are aged over 30 if you decide to take out Hospital cover later in life – up to a maximum of 70%.

 

Why Bupa

If you take up the Cashrewards special offer and sign up with Bupa, not only will you be able to get cash back, but as a Bupa member you could have access to a range of additional benefits:

Age-based discounting: If you’re aged 18-29, you are entitled to receive an Aged-Based Discount on your domestic Hospital cover. The discount is calculated at 2% for each year you’re aged under 30 from when you first purchase Hospital cover. 18 to 25 year olds can receive a maximum of 10% discount. You will retain that discount rate until you turn 41, as long as you have Hospital cover. From 41 years of age, the discount will reduce by 2% each year until it reaches 0%. 1

Support for your mental health: At Bupa we know that mental health is just as important as physical health. We pay towards the cost of both psychology and counselling, at registered Bupa providers, under our mental health category on most mid to high Extras and packaged covers (yearly limits, waiting periods, fund and policy rules apply).2

Members First Extras network: If you’re a Bupa member with Extras, you have access to a network of thousands of healthcare providers which can help you pay less for the services you use most. When you visit a Members First provider across dental, physio, chiro, podiatry or optical, you could get 60-100% back for the services included in your cover, up to yearly limits. When you choose to visit a Members First provider, in most instances you will receive higher benefits and have the certainty of knowing how much you’ll get back.3

Members First Day Hospital: If you are treated in a Members First Day Hospital, there are no out-of-pocket expenses for medical services (e.g. your surgeon, anaesthetist or other specialist fees). Not available in NT. Any excess or co-payment related to your cover will still apply.

Private room: Whether you choose a basic or top Hospital cover, with Bupa you’ll be covered for a private room in most private hospitals across Australia for the services included on your policy.4

No Hospital Excess for kids: On selected Hospital covers and family packages, you won’t pay the excess for any child dependant (up to the age of 25 years) covered on your membership who is admitted to hospital.

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Bupa Plus rewards and discounts: At Bupa we know that your health needs are much broader than just going to the hospital or making a claim with us. Even when you’re in great health, there are still plenty of ways to get everyday value thanks to Bupa Plus. An exclusive range of rewards and discounts, health tools and more is available to Bupa members to help you live a healthier, happier life.5

Want more reasons to join? Click here to find out what special offers we have for our Cashrewards members.

 

Terms and conditions

1 The age-based discount is calculated at 2% for each year you are aged under 30, when you first purchase a domestic Hospital cover. The maximum discount is 10% for 18 to 25-year-olds. The discount applies based on how many adults are on the cover, and the size of their respective discounts, which are based on their age. Discounts will begin to phase out from 41 years of age. This is a voluntary Australian Government initiative that Bupa has chosen to adopt.

https://www.bupa.com.au/health-insurance/why-choose-bupa/support-for-your-health/mental-health#what-mental-health-services-are-covered-under-extra

3 For most items at Members First Extras providers covering dental, physio, chiro, podiatry consultations and selected optical. Yearly limits, waiting periods, fund and policy rules apply. Excludes orthodontics, orthotics and hospital treatments. Set benefits apply at other recognised providers.

4 Only for the services included in your policy. Private room not covered for minimum benefit services or exclusions. At Bupa agreement hospitals only, room availability and eligibility criteria apply.

5 https://www.bupa.com.au/health-and-wellness/bupa-plus

 

Disclaimer: Some items in this article may not be eligible for Cashback. Deals, products, displayed prices, Cashback rates and available retailers through Cashrewards mentioned above may change at any time without notice. This article has not been specifically sponsored in any way, by any retailer, although Cashrewards has ongoing partnerships with the companies mentioned above in order to provide you Cashback at these companies.

 

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Maria Schindlecker
Written by Maria Schindlecker
Maria Schindlecker is an avid traveller and book-worm who has a Masters in Journalism and Communications and has contributed to online publications such as The Scavenger and The Huffington Post. Maria likes to write about everything from food to travel and anything in between, because according to her... who wants to be boring and stick to one subject, right?