Compare Basic Hospital Cover

Okay, so you’re probably still weighing up whether Basic cover is right for you. That’s smart thinking! But it also means you should understand exactly what kind of cover you’re not going to get. Here are the treatments that could be excluded or only covered at a restricted level (private patient in a Public Hospital) if you take out a basic Hospital policy:

• Brain and nervous system
• Eye
• Ear, nose, and throat
• Tonsils, adenoids, and grommets
• Bone, joint, and muscle
• Joint reconstructions
• Kidney and bladder
• Male reproductive system
• Digestive system
• Hernia and appendix
• Gastrointestinal endoscopy
• Gynaecology
• Miscarriage and termination of pregnancy
• Chemotherapy, radiotherapy, and immunotherapy for cancer
• Pain management
• Skin
• Breast surgery (medically necessary)
• Diabetes management (excluding insulin pumps)
• Heart and vascular system
• Lung and chest
• Blood
• Back, neck, and spine
• Plastic and reconstructive surgery (medically necessary)
• Dental surgery
• Podiatric surgery (provided by an accredited podiatric surgeon)
• Implantation of hearing devices
• Cataracts
• Joint replacements
• Dialysis for chronic kidney failure
• Pregnancy, and birth
• Assisted reproductive services
• Weight loss surgery
• Insulin pumps
• Pain management with device
• Sleep studies

We’ve already touched on the other three ‘product tiers’ of Hospital cover, but we haven’t really explored how they work. Yes, they all cover a broader range of hospital treatments—or ‘clinical categories’—but it’s time to look at what they actually give you:

• Bronze: Must cover a minimum of 21 clinical categories, including the digestive system, joint reconstructions and medically necessary breast surgery.
• Silver: Must cover a minimum of 29 clinical categories, including blood-related conditions, hearing implants and treatments for the back, neck and spine.
• Gold: Must cover all 38 clinical categories, including joint replacements, cataracts and insulin pumps.

All things being equal, higher levels of cover will usually cost more than the lower levels. This is why it might be a good idea to compare different policies and weigh up the coverage provided against the price. Savvy consumers take note! 

Again, this will depend on the specific policy you end up choosing, so the cost can vary. But here’s an exciting tidbit: private health insurance also works on a ‘community rated’ basis. That means everyone, regardless of age or health history, pays the same price for the same policy. Fair and square, folks!

That’s not all, though. The cost of your policy also depends on something called an excess. Essentially, it’s an-out-of-pocket expense. When you make a claim, you’ll need to pay the excess before your insurance swoops in to save the day. The good news is that the higher your excess, the lower your monthly or annual premiums will usually be. It’s all a matter of striking the right balance between your needs and your budget.

Yes, but like most things in life, it depends on your circumstances.

As of 1 July 2024, if you’re a single earner soaring above $97,000 as an individual, or a power couple raking in more than $194,000 as a couple or family, you might be required to pay a tax called the Medicare Levy Surcharge (MLS).

(FYI, this is the first time that the MLS income rates have been amended since 2014, so it’s likely that these rates will remain stable for the next few years or so.)

However, you can avoid this sneaky surcharge if you hold the right level of hospital cover.

Basic Cover can provide a cost-effective way to avoid this surcharge, too. Just make sure it covers you, your spouse and any of your dependent children. Plus, it will need to meet the following requirements:

• The excess for singles cannot be less than $750
• The excess for couples or families cannot be less than $1,500

Finding the right health insurance can take a bit of time and effort. Like homework, it’s not exactly a lot of fun. But that’s why we’re here to make it a little more bearable. 

See, by comparing policies, you can quickly weigh up all the different benefits, price tags and coverage levels on offer. This is an easy way to find cover that’s a good fit for your needs. And at iSelect, we’ve got our own way of making this a quick and painless process. 

So jump online to compare policies from a wide range of providers, or give us a bell on 1800 784 772 and speak to one of our health advisors. You might just find what you’re looking for in a matter of minutes!