Understanding health insurance
Health insurance can be tricky to understand. We've put together some guides to help get you started.
I’m turning 25
I’m earning over $90,000
How much extra tax could you be paying without health insurance?
Use our Medicare Levy Surcharge Calculator to discover how much extra tax you may be paying by not having the appropriate level of Hospital cover for a full tax year#.
How much will my procedure cost?
Want to know what the most common procedures are for someone like you? Use our Procedure Cost Estimator to find out what they are, and how private health insurance can help you to manage the cost.
Extras cover gives you money back for non-hospital services such as dental, physio, optical and more.
The amount of money you can claim back depends on the level of cover you have.
Generally speaking, the higher the level of cover, the higher your annual limit and higher the percentage you can claim back.
All health funds have waiting periods. In short, a waiting period is a period of time you need to wait after taking out your cover before you can receive benefits for services or items covered.
You’re not able to receive benefits for any items or services you might have obtained while you’re serving a waiting period or before you joined Medibank.
A cover that helps with the cost of a member's hospital stay as a private patient including:
- hospital accommodation on the ward,
- in-patient medical treatment; and
- associated appliances provided during the admission e.g. approved internal prostheses
The Australian government provides the Australian Government Rebate on private health insurance to encourage people to take out private health insurance. Find out more about the Australian Government Rebate.
Things you should know
* - Offer for new members who join eligible combined hospital and extras cover. Must quote promo code WAIVER and set up direct debit when joining, and we’ll waive 2 & 6 month waiting periods on extras. Other waiting periods still apply, and if you’ve used up to your annual limit from a previous fund you may not be able to claim straight away. Excludes Accident Cover, Ambulance Cover, Visitors Health Insurance, Overseas Students Health Cover (OSHC), Working Visa Health Insurance, ahm covers, some Corporate covers and other selected covers. Not available if you’ve had a Medibank policy in the last 2 months. Not available with any other offer.
# - This calculation is a guide only. For a more detailed quote of what you might pay we recommend speaking to a financial advisor who will be able to take into account your income and personal situation.