Australia has a highly developed medical system with both the public, Medicare and private
sectors. Though Medicare offers the sum total health care to Australian citizens and residents,
private health insurance underlines specialized services, low waiting lists, as well as choice
freedom simultaneously. Numerous Australians prefer to receive treatment quicker and have
more choices of healthcare providers, thus, they use private medical insurance. In this paper, this
author presents the summary of 10 leading health insurers in Australia: premiums as well as
coverage, and the role of private health insurance in the context of Australia’s health system.
1. Medibank Private
Website: www.medibank.com.au
Premiums:
The basic package comes to around AUD $115 per month for a single or AUD $230 for families
depending on anyone’s location and the type of coverage.
Coverage:
Medibank covers offer the choice between a hospital cover and an extras cover in which optional
items such as dental treatments, physiotherapies and optical treatments are including. Their
hospital cover includes many choices such as private hospital care, the choice of the specialist or
any preferred surgery. Nowadays, Medibank also has a “Live Better” reward program complete
with a discount for health.
Importance:
Medibank Personal is among the largest health insurance organizations in Australia. It is a vital
one that assists patient to get lucky to receive elective surgery, mental health, and quality dental
treatment without ending up on long waiting list in the public system.
2. Bupa Australia
Website: www.bupa.com.au
Premiums:
Depending on coverage which ranges from AUD $110 each month for singles and AUD $220
for families.
Coverage:
Bupa health insurance provides all-essential benefits of hospital care that includes surgeries,
consulting with specialist’s doctors, hospitalization, and emergency ambulance services. The
extra options are dental, off- eye, physiotherapy, and chiropractic. It also offers customer’s
access to thousands of private hospitals all across the Australia.
Importance:
Bupa is a world’s largest health insurance company and has its significant presence in Australia.
By the extensive network of affiliated providers and the broad membership, Bupa allows
Australians to avoid waiting lists of the public system and receive essentially necessary
treatments quicker.
3. HCF (Hospital Contributions Fund)
Website: www.hcf.com.au
Premiums:
These start at around AUD $110 per month for single and AUD $210 for families dependent on
coverage.
Coverage:
HCF has two packages namely the hospital cover and the extras cover, the hospital cover gives
you access to private hospital treatment, elective surgeries and rehabilitation services. Their
extras cover provides dental, physiotherapy and other natural therapies, for example acupuncture.
HCF actually has some of the ‘no gap’ policies and a large number of treatments do not attract
any out of pocket expenses.
Importance:
HCF is the largest not-for-profit health fund in Australia. This keeps members in a positive view
simply because they are offered cheap insurance that liberates their access to quality health care
services.
4. Nib Health Insurance
Website: www.nib.com.au
Premiums:
These premiums begin from as low as AUD $100 for singles and AUD $200 for the families.
Coverage:
Nib offers hospital insurance, in which it covers treatment in private hospitals, choice surgeries,
and recovery. Extras cover encompasses dental, optical and physiotherapy, and nib has other
products for international students and visitors to the country.
Importance:
Teens and twenties are more inclined towards nib and it has preference among people who want
low cost health insurance. Friendly price policies are popular among them as they are combined
with a wide range of services —both inpatient and outpatient.
5. Australian Unity
Website: www.australianunity.com.au
Premiums:
From that: AUD $120 per month for single and AUD $240 for family.
Coverage:
Hospital and extras covers are included in the services provided by Australian Unity. Hospital
cover encompasses inpatient private hospitals, surgeries, and operations, and consultations with
specialists. The additional end products are dental and optical, physiotherapy, and wellness
programs.
Importance:
Australian Unity though focuses on the communal health expense and offers the members both
health care as well as well-being services. This is especially so for Australians who would like to
have a better New Year health balance.
6. Teachers Health Fund
Website: www.teachershealth.com.au
Premiums:
The basic tariff is approximately $ 100 per month for a single fairly prosperous practicing or
administrative employee and 210 $ for a family.
Coverage:
Teachers Health Flight allows coverage of private hospitals, surgeries and treatment for certain
mental illnesses. Their extras cover consist of dental, optical and physiotherapy services.
Importance:
Teachers Health is an industry-based health fund which focuses primarily on educators, and their
dependents. They specialize in offering health insurance solutions that cater for teachers in their
work place and their dependents.
7. CBHS Health Fund
Website: www.cbhs.com.au
Premiums:
They range from AUD $105 monthly for single users, and $215 for families.
Coverage:
The care offered by CBHS includes hospital cover, which are surgeries and hospitalization, and
other post-surgical care services. Their cover includes the following: Dental, optical, and
physiotherapy. CBHS is famous for its packages of cancer care, which embraces treatment as
well as the rehabilitation process.
Importance:
CBHS mainly caters for working people and retirees of the Commonwealth Bank of Australia,
members of this fund however enjoy top notch plans especially where cancer treatments or
elective surgeries are involved.
8. Frank Health Insurance
Website: www.frankhealthinsurance.com.au
Premiums:
Subscription begins from around AUD $95 for individual and AUD $190 for families.
Coverage:
Frank Health Insurance gives hospital and extras insurance at low cost. Hospital cover refers to
private hospitals, optional surgeries, and mental health illnesses. There is also an additional plan
that is provided to extras such as dental, physiotherapy as well as optical services.
Importance:
Frank Health Insurance is favorable to the young people and families in search of affordable
private health insurance but having necessary services such as optional operations and mental
disorder treatment.
9. GMHBA (Geelong Medical and Hospital Benefits Association)
Website: www.gmhba.com.au
Premiums:
It starts from single AUD $110 per month and AUD $220 for families.
Coverage:
GMHBA provides many options of the hospital and extras cover. Hospital cover also covers
private hospital treatment, elective surgery and even childbirth. Coverage of out-patient services
label includes dental treatment, physiotherapy as well as optical services. Particularly, the
hospitalization of this kind is accompanied by a set of health management programs for chronic
diseases for individual clients.
Importance:
GMHBA has developed fame in the management of health insurance personalized more so on
chronic illnesses. It is a powerful option for customers who are in search of specific health
insurance policies in regional territories of Australia.
10. Health Partners
Website: www.healthpartners.com.au
Premiums:
Premiums range’s from AUD $100 for singles and AUD $210 for families.
Coverage:
Health Partners has a wide range of hospital insurance packages, this Packages include surgeries,
hospital overnight or day stay admissions and consultations by a specialist. Their extras cover
includes dental, optical and physiotherapy services. That is why Health Partners is famous for
cooperation with dental and optical clinics, and, therefore, providing quite deep discounts.
Importance:
Health Partners is a health fund owned by members, highly concerned with offering affordable
quality health care services. Healthcare provider partnerships help to guarantee that members get
the best value for money on their plans most especially on dental and optical plans.
Role of Private Health Insurance in Australia
Although the free medical insurance or Medicare system in Australia is almost all-inclusive
private health insurance has its role to play within the gaps of the public health sector. Some key
reasons why private health insurance is important in the Australian context include:
Shorter Waiting Times:
The services offered through Medicare may, at times, have exceptionally long waiting lists for
such procedures as minor surgeries or visiting a specialist. Public patients have to wait for long
hours to get a treatment and in some cases they may not get it at all, while policy holders of
private health insurance policies can get the treatment immediately.
Access to Private Hospitals:
Private health insurance means one gets to attend private hospitals, which most of the time are
more comfortable, personalized and more equipped technologically.
Choice of Doctor:
Hence it becomes apparent that patients with private health insurance enjoy the freedom of
choosing the doctors that they and specialists something that is not possible under Medicare.
Extras Coverage:
Medicare ensures that people have access to some basic medical services and products but does
not pay for services that care by engaging private health insurers on an optional basis such as
dental, optical, physiotherapy, and wellness programs.
Mental Health Support:
As awareness of mental health problems and illnesses grow in Australia, most private health
insurance providers list extensive mental health services that comprise counseling and
psychiatric services; and often, patients can access such services within several weeks as
opposed to the public health care sector.
Maternity and Family Care:
Most of the private health insurers offer maternity benefits and this affords parents more contexts
over the way they want to deliver their children. Women can select the obstetrician of their
preference, and also the hospital in which they prefer to be attended.
Tax Incentives:
The Australian government currently promotes private insurance through a system of rebates that
is provided to policyholders. Moreover, individuals not covered by private health insurance, and
earning more than a specified amount will be slugged the Medicare Levy Surcharge for going
without private insurance, thus making it exactly more attractive for higher earners.
Conclusion
Private health insurance is a wonderful opportunity for individuals who want to take more charge
of insurance in belonging to the country’s healthcare system in Australia. Major Private health
insurance providers include Medibank, Bupa, HCF, nib, Australian Unity, Teachers Health,
CBHS, Frank Health Insurance, GMHBA, and Health Partners that have available plans for
every pocket and health condition possible. From choice of private hospitals, dental and optical,
waiting time to specialists and surgeries private health insurance delivers immense benefits to the
Australians who seek an enhanced healthcare.
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