Being an international student or a visitor visa holder, you have to buy OSHC or OVHC to meet your visa requirements. But, what purpose does it serve? The main purpose of a health cover in Australia is to provide financial support during a sudden circumstance such as an illness, accident, or hospital stay-related medical emergency, while you are away from your home country.
Private health cover is important to understand when you are moving to Australia and it reaps you long-term benefits that we will discuss in the following blog.
Who is Eligible for Private Health Insurance in Australia?
In Australia, if you are on a student visa, visitor visa, or working visa, you need a health cover to meet your medical expenses during your stay. For that, we have two health covers, Overseas Student Health Cover and Overseas Visitor Health Cover.
However, if you are a citizen or permanent resident of Australia, or have a certain regional work visa, you are entitled to Australian public healthcare i.e., Medicare. Australia along with several other countries have reciprocal healthcare agreements too.
These countries are the Netherlands, Norway, Ireland, Slovenia, Sweden, Belgium, Finland, Italy, Malta, and New Zealand. Citizens of these countries are eligible for most basic public healthcare programs even without being permanent resident.
Which Common Health Insurance Types Are There?
Extras only: Only non-hospital services that are not covered by Medicare will be covered by Extras. The coverage includes physiotherapy, psychiatry, dentistry, and optometry. After the cost is paid in full, most health covers reimburse some part of it whereas, annual limits are applicable for every service. Moreover, you have to fulfil waiting periods before making a claim.
Hospital-only: This health cover provide greater options when it comes to selecting a specialist and hospital, and it also helps them avoid public hospital waiting lists. The insurer about the cost of private hospital treatment pays benefits.
Hospital and Extras: This includes both hospital and out-of-hospital treatments for the extras mentioned earlier. These plans are combined at different coverage levels for various medical treatments and is one of the most bought health cover.
Long-term Benefits of Private Health Cover in Australia
1. Reduced Waiting Times
One of the most important benefits of private health cover in Australia is the reduced waiting times for elective surgeries as well as other non-emergency medical processes. Waiting times in public hospitals are lengthy, but private health cover allows quick access to emergency treatments.
2. Choice of Doctor and Hospital
With private health cover, you get the flexibility to choose your doctor and hospital from where you intend to take the treatment. This can be your personalized healthcare experience where you are allowed to be treated by specialists of your choice.
3. Better Hospital Accommodation
Who does not want private rooms and better hospital facilities? With private health cover, you get access to both. Private health cover ensures comfortable and less stressful hospital stays, making your overall recovery experience better.
4. Comprehensive Coverage
Private health cover provides a wider range of medical services and treatments that are not covered by Medicare – Australia’s public healthcare system. This includes dental, optical, physiotherapy, and other related health services. Alternative therapies like chiropractic and acupuncture can also be covered under your OSHC or OVHC in Australia.
5. Financial Security
You can rest assured knowing that you get financial security with private health cover that covers the costs of expensive medical treatments and surgeries. You can be stress-free from out-of-pocket expenses and protect yourself against unexpected medical bills.
6. Mental Health Support
Counselling and psychiatric care are a few examples of mental health therapies that are generally covered by private health covers. Having access to these resources can greatly improve mental health and offer important assistance through tough times.
Summary
In conclusion, there are several long-term benefits to private health insurance in Australia, ranging from shorter wait times and a wider selection of healthcare providers to complete coverage and financial security. Moreover, private health insurance is a wise investment in your health and wellbeing especially when you are away from your home country.
Budget Policy can help you compare and buy best OSCH or OVHC plan from top providers. With us, you can also save big on your pocket. Book an appointment with our experts or visit our official website to get started with the process.
