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  • Using Your Cover

    Health cover: why it’s important to be covered (and stay covered)

    Your health cover is a valuable asset in your quest for the best possible health.

    Investing in your health is one of the best investments you can make. In the event you get hurt or fall ill and need medical treatment, your private health cover can help you get the treatment you need, when you need, and pay benefits towards the cost of your treatment.

    But private health insurance isn’t just important for returning you to good health; your health cover is also a very valuable asset in your quest to achieving your very best possible health.

    The advantage of private hospital cover

    If you are injured or unwell and need to be admitted to hospital, your private health insurance will pay benefits towards the cost of your medical treatments, potentially saving you thousands of dollars.

    With private hospital insurance, you have the option of choosing the hospital where you would like to be treated as well as the specialists that will attend to you, giving you the peace of mind that you are receiving the best care available to you.

    In the public system, you might have to wait weeks, months or even years on a waiting list before you can receive treatment for your injury or illness. But with private health cover you can be treated as soon as you and your specialist are ready.

    If a hospital visit is on the cards, we can help you find a hospital and specialist that will provide the care you need whilst minimising any out-of-pocket costs, ensuring your journey to better health is as hassle free as possible. Call us on 132 331.

    Staying healthy with Extras cover

    Whilst your private hospital cover helps support you for visits to hospital, your Extras cover can help you stay on top of your health and avoid illness and injury in the first place.

    A wide range of medical services are covered under the banner of Extras services, including; dental, optical, physio, podiatry and many more.

    With Extras cover, you can take a proactive approach to managing your health with regular check-ups and treatments for ailments and Medibank will cover a percentage of the total fee (up to annual limits). Depending on your level of cover, Medibank will even cover up to 100% of the cost for selected services.

    You can also enjoy better value for money if you visit an Extras provider that is in our Members’ Choice network, where we’ve negotiated capped pricing, discounts at retailers, guaranteed percentage return for certain treatments and generally lower out-of-pocket costs.

    You can log in to My Medibank to find out what Extras services you are covered for, or give us call on 132 331 and we can check you have the level of cover you need for your health needs.

    There are many reasons why private health cover is not only a good choice for your health; there are also a number of reasons why having private cover is a practical choice for financial reasons.

    Avoid paying for Lifetime Health Cover loading

    Lifetime Health Cover loading is an initiative of the Federal Government designed to encourage Australians to take out their own hospital cover. For those without cover beyond 1 July following their 31st birthday, they stand to pay an additional 2% loading on premiums each year once they decide to take out private health cover. So it works in your favour to get covered and stay covered early in life.

    Read more about Lifetime Health Cover here.

    Avoid paying the Medicare Levy Surcharge

    If you don’t have an appropriate level of private hospital cover, you must pay a Medicare Levy Surcharge at tax time. This can be up to 1.5% of your income – that’s a lot of dollars! So having private health cover is more than just a wise choice for your health… it’s a wise choice for your pocket.

    Here’s some more info about Medicare Levy Surcharge.

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