Government Reform Packages for Private Health Funds Causing More Discouragement
While private health insurance members await their yearly premium increase on 1 April 2018, you might soon have to pay even more to remain covered for joint replacements, IVF, hearing loss surgery, heart attacks and insulin pumps.
The Government’s private health insurance reform package will kick in next year on the 1st April 2019. The package is meant to simplify health insurance comparisons by introducing Gold/Silver/Bronze and Basic product categorisation.
It has now become clear that while such categories might make it easier to compare health funds, it will only be the top policies, soon to be known as Gold cover, that will provide members with coverage against more expensive benefits, including dialysis, cataract surgery, weight loss surgery and sleep studies.
Of the 17 general treatment areas, a health department issue paper shows that a Bronze package will cover a minimum of 4 general treatments, rendering it almost useless. Only when you commit to a pricey Gold package would you get access to treatments for podiatry, chiropractic, hearing aids and audiology and occupational therapy.
The proposed reforms would also make Silver cover impractical when planning to start a family because pregnancy and birth-related services will only be available in Gold packages.
These reforms are “clawing away at the value of health insurance” said Dr Michael Gannon, the Australian Medical Association president. Ian Burgess, Chief Executive Officer of the Medical Technology Association of Australia, concurred by saying that when limiting members to Gold to gain access to life-changing services it will only exacerbate the problem.
To this we ask, is it any wonder that complaints about health insurance have increased by a record of 30% within one year?
Learn how Health Insurance & Medicare pays for psychiatric & psychological services in and outside of the hospital. Review our list of mental health plans.
Learn more about myOwn health insurance with AIA Vitality. Get up to 10% off your premiums when under 30 years old. Hospital & Package options available.
How to avoid the 2% health insurance loading before your 31st birthday. Plus, find out how the LHC loading works when overseas or immigrating to Australia.
Find out if private health insurance is worth it by requesting free health insurance quotes and comparing policies. Your guide to health insurance in Australia.
Find out how you can reduce your private health insurance premium with the Australian Government Rebate. Uncover how big your discount or refund will be.
Review their Hospital and Extras options and decide whether the not-for-profit health fund is a good option for you. Request a HIF health insurance quote now.