Choosi’s tips for comparing health insurance
Choosing the right health insurance can be confusing, especially given the number of different policies and pricing options available. Choosi makes it simple by helping you compare a range of policies from some of Australia’s leading health insurance brands, so you can find the health insurance that suits your needs and budget.
Level of Cover
Are you looking for basic or comprehensive cover? Perhaps hospital only, extras only or a combined hospital and extras policy will best suit your needs? There are three main types of private health cover to consider:
Hospital Cover – enjoy peace of mind knowing you’re privately covered for in-patient hospital expenses with your choice of doctor and hospital from your funds approved hospital list. You’ll also avoid public hospital waiting lists for elective surgery and receive tax benefits where applicable.
Extras Cover – receive benefits for health services Medicare doesn’t cover, like Dental, Optical, Physiotherapy and more.
Combined Cover – includes both hospital and extras cover. Find a tailored policy to meet your needs.
Switching Health Funds
If you haven’t reviewed your health insurance cover for a while, you could be paying for services that you don’t need or you may not have adequate cover for services that you do need. Choosi makes switching health funds easy. Your new health fund will take care of the transfer and even contact your previous fund to terminate your old policy, making it easy and straightforward for you. Also, you won’t have to re-serve your waiting periods if you switch to a similar or lower level of health insurance.
Save on Tax
If you earn over the income threshold disclosed by the Australian Tax Office and do not have private health insurance, you may be required to pay the Medicare Levy Surcharge unless you are eligible for an exemption. This is an extra amount, up to 1.5%, on top of the standard 1.5% Medicare levy that you already pay through your income tax. But did you know that it’s easy to avoid paying the extra tax by simply taking out hospital cover? And best of all, you’ll have the peace of mind of knowing that you have cover to help you with life’s medical emergencies. Find out more about the Medicare Levy Surcharge.
Lifetime Health Cover
Lifetime Health Cover is an initiative introduced by the Federal Government to encourage people to take out and maintain hospital cover. By taking out hospital cover before 1 July following your 31st birthday, you can lock in a low premium and avoid the addition 2% Lifetime Health Cover age loading on top of your normal hospital cover premium.
Federal Government Rebate
The Federal Government Rebate for health insurance can help reduce the cost of your health cover substantially. The level of rebate you receive will be dependent on your annual pre-tax income and the age of the oldest member on your heal insurance policy. Find more information read our helpful guide Health Insurance Rebate or visit The Australian Tax Office website.
Review your extras
Are you paying too much for cover you no longer need? Or do you not have enough cover for the services that you frequently use? Choosi can help you compare extras cover so you can make sure you have the right level of extras benefits to suit your current needs and budget.
Compare with Choosi
With Choosi you can choose the benefits that are important to you. Choosi will provide you with suitable products to compare so you can choose the right cover to suit your needs, budget and lifestyle. Our friendly team of health insurance advisors can help you with any questions you may have regarding your health insurance. Phone 1300 884 384 or compare quotes online now.