Choosing the best hospital cover in Australia depends on your individual health needs, budget, and life circumstances. This comprehensive guide compares top insurers and coverage levels to help you make an informed decision.
Understanding Hospital Cover Tiers
Australian hospital insurance is categorised into four tiers:
Basic Hospital Cover
- Covers: Rehabilitation, palliative care, mental health services
- Excludes: Heart surgery, joint replacements, pregnancy services
- Best for: Young, healthy individuals wanting to avoid Medicare Levy Surcharge
Bronze Hospital Cover
- Covers: Basic tier plus appendix, tonsils, hernias
- Limited pregnancy and assisted reproductive services
- Best for: Those wanting basic surgical coverage
Silver Hospital Cover
- Covers: Bronze tier plus joint investigations, kidney dialysis
- Some pregnancy and assisted reproductive services
- Best for: Individuals planning for future health needs
Gold Hospital Cover
- Covers: Most treatments including heart surgery, joint replacements
- Comprehensive pregnancy and IVF coverage
- Best for: Families and those with ongoing health conditions
Top Hospital Cover Providers 2024
Medibank
Australia's largest health insurer offers:
- Extensive provider network
- 24/7 health advice hotline
- Good value across all tiers
Bupa
Known for comprehensive coverage:
- Excellent customer service
- Wide range of policy options
- Strong mental health support
HCF
Member-owned fund with:
- Competitive premiums
- Good hospital network coverage
- Focus on preventive health
When comparing policies, consider factors beyond price. Look at waiting periods, excess options, and whether the policy meets your needs for avoiding LHC loading.
Choosing the Right Level for You
Consider these factors:
- Age and health status: Younger, healthier individuals might prefer basic cover
- Family planning: Families or those planning children need pregnancy cover
- Income level: High earners benefit from avoiding the MLS
- Existing conditions: Those with ongoing health issues need comprehensive coverage
FAQs
What's the difference between public and private hospitals?
Public hospitals provide free treatment through Medicare, while private hospitals offer choice of doctor and typically shorter waiting times.
Can I upgrade my hospital cover anytime?
Yes, but waiting periods apply for new benefits. You typically can't claim for upgraded services for 2-12 months.
Should I choose a higher excess to reduce premiums?
Higher excess reduces premiums but means you pay more if you need treatment. Choose based on your financial situation and health risk.