Health insurance made simpler, no joke

Posted 13 March, 2019 Lauren Ferrone

Dear future self, life can take a toll on your body, especially as you age. You probably already know that from the persistent dull ache in your lower back and faint crack in your knees when you bend down.   It’s okay to feel worried. Your body is supposed to be a temple, right?   Here’s the good news: you’re not alone. Look at your work colleague, your parents or the stranger walking down the street. No matter how old they are, chances are they share similar health concerns. So much so, that more than half of the Australian population – about 13.5 million people – have private health insurance to safeguard themselves.   Navigating the myriad of health insurance policies and understanding exactly what you’re paying for can be tricky. Thankfully, that should change come 1 April.  

No, this isn’t an April Fools’ joke

New private health reforms will be introduced to help you get your head around ‘what’s what’, and give you more choice and control when it comes to decisions about protecting your body and mind. So, what’s the best way to get a handle on the changes headed your way?  

Think of private health insurance like the Olympics. Strange analogy, but keep reading.

  Part of the reforms will include 4 new tiers of cover: Gold, Silver, Bronze and Basic. As you’d expect, the higher the tier, the more hospital treatments that are covered. If your health insurer covers a category – for example, ‘bone, joint and muscle’ or ‘heart and vascular system’ – they must cover all of the treatments in that category. This makes policies easier to compare.  

Here’s a breakdown of each tier: