Hospital cover refers to coverage by your health fund for in-patient hospital treatment. It covers hospital accommodation, medical costs, theatre fees and doctors' fees. Generally, any medical service listed under the Medicare Benefits Schedule (MBS) can be covered by private hospital insurance. Some services which are not listed, like elective cosmetic surgery or laser eye surgery, may only be covered to a limited extent or not at all.
Many people choose hospital cover because you could:
- Save on tax if you're earning over $90,000 per annum as a single or $180,000 per annum as a couple or family, by avoiding the Medicare Levy Surcharge
- Avoid lengthy waiting periods for elective surgery in a private hospital
- Choose your doctor and participating private hospital
- Save money in the long run by taking out hospital cover early in life and minimising your Lifetime Health Cover age loading
- Hospital cover can be taken out separately as a 'hospital only' policy, or combined with extras cover.
Extras cover pays benefits for out-of-hospital services that generally aren't covered by Medicare, such as dental treatment, prescription glasses, contact lenses and physiotherapy. There is a wide range of extras features that you can choose from to ensure you get covered for the things you're likely to use.
Extras cover can be offered separately or combined with hospital cover. The level of extras cover that you choose will determine the services included and how much you can claim for each service each year.
Combined Hospital and Extras Cover
Combined hospital and extras cover includes benefits for both in-patient hospital treatment and out-of-hospital services that generally aren’t covered by Medicare, such as dental treatment. You may choose a pre-packaged policy that health funds design for different life stages, or you may prefer to mix and match different hospital and extras covers to choose a combination that's right for you.