Anything can happen to you, and unexpected things often come without ever letting you know. Therefore, choosing one of the 5 best health insurance companies Australia can be a lifesaver.
As a general knowledge, Australia is a country where their healthcare system is considered the best in the world. With health insurance, you can relish the benefits of the Australian healthcare system to the fullest.
In order to make it easier for you to take advantage of this country’s healthcare, we have summarised the 5 best health insurance companies Australia. If you are already curious, then you can keep scrolling down.
Contents
What is Health Insurance?
Before getting to know the 5 best health insurance companies Australia, it would be better to know the definition of health insurance along with the advantages that you can gain.
Health insurance can be defined as a contract between an insurance company and its customers. In this contract, the insurer will pay all or part of the healthcare bills of its customers in exchange for monthly premium payments.
The benefits and advantages that you can gain by taking health insurance are as follows;
1. Helps Protect You from High Medical Bills
It may be true that eating a healthy diet and exercising regularly can keep you away from various diseases. But that doesn’t apply to unexpected situations like illnesses, accidents, and injuries.
Did you know that the cost of treatment and recovery from these unexpected situations can be extremely high? Luckily, health insurance can cut those medical expenses down.
2. Makes You Live a Healthier Life
Apart from keeping you away from high bills, health insurance can also ensure that you continue to live a healthy life.
There are a lot of health service options provided by each insurance company. These services are what you can choose to encourage you to live a healthier life.
3. Facilitate All Your Affairs Related to Health Services
By having health insurance, the difficulties and hassle of the health care process that you experience can be resolved easily.
5 Best Health Insurance Companies Australia
Health insurance has become an important part of people’s lives Australia. It can be seen by how many health insurance and private health insurance companies are available. But of the many choices, there are the 5 best health insurance companies in Australia.
- Medibank
- Bupa
- HCF
- NIB
- HBF
1. Medibank Health Insurance
First up is Medibank, an insurance company that has been around since 1976. Today, they have provided health coverage to more than 3.9 million people across Australia.
With this company, there are several policies that you can get and enjoy.
- 11 Hospital plans with a bill of $101.80 per month
- 21 Extras policies with prices starting from $30.30
- 2 combined policies that start at $119.25 before deductions
For the waiting period, this insurance company offers a waiting period of between 2 to 36 months depending on your needs.
2. Bupa Private Health Insurance
Next up is a private insurance company with over 4 million customers, Bupa. What’s interesting about this insurance company is how they offer services that work together for the health of all Australians.
Bupa also has several policies, such as;
- 8 Hospital cover options with premiums at $103.35
- 22 Extras policies with monthly premiums starting from $26.70 per month
- 5 combined policies with the lowest monthly premium at $130.55
With this insurance company, you have a waiting time that varies between 3 months to 3 years depending on your condition.
3. HCF Health Insurance
Based in Australia, HCF is one of the largest not-for-profit health funds in the country. They are also an old private insurance company that have been established in 1932.
Here are the policies of HCF in action.
- 7 Hospital policies with premiums starting from $104.30 per month
- 5 Extras cover with monthly premiums starting at $16.95
- 5 combined policies with monthly premiums at $129.40
For the waiting period, HCF offers a waiting period of between 2 to 12 months.
4. NIB Private Health Insurance
NIB offers something that other insurance companies do not. What is it? It is a reward program provided for those who manage to lead a healthy life. Through this program, you can get discounts at reputable retail stores.
Below are some of the NIB policies available.
- 7 Hospital policies with premiums starting at $107.65 per month
- 19 Extras policies with monthly premiums starting at $29.97
- 1 combined policy with a premium of $116.51
What about the waiting period? the NIB offers a waiting period of between 1 day and 12 months.
5. HBF Private Health Insurance
The last one is HBF. This insurance company is the most ideal choice for Australians who need health protection that can meet their unique health needs.
This insurance company also has several policies, such as;
- 6 Hospital policies with premiums starting from $105.70 every month
- 5 Extras policies with monthly premiums starting from $23.35
- For combined policies, this insurance company does not provide them.
For waiting periods, HBF private health insurance offers a waiting period from 7 days to 12 months.
Live Healthier with Health Insurance, Have You Found a Suitable Insurance Company?
There is no single best health insurance for everyone as what is best for you may not be for someone else. Therefore, make sure you consider policies, premiums, waiting periods, and other things before choosing one of the health insurance companies Australia.
FAQ
Do I need a Hospital and Extras policy?
Generally, this depends on you and your needs. If you want health protection against surgery or treatment, then you can take the Hospital policy. On the other hand, you can take an Extra policy if you want treatment outside the hospital such as dental, optical, and others.
What is the best health insurance companies Australia?
This answer is not conclusive. It’s entirely depending on you and your needs to determine which insurance company is the best.
Is health insurance important?
Without a doubt, health insurance is something that is important for you. With health insurance, you will avoid the high cost of treatment and the hassle of waiting on a waiting list.