Health Insurance Comparison

Private Health Funds: AHM

Sally Aquire — Tue, 15 May 2012 23:44:43 +0000

Do you pay close attention to the different health funds when you compare health insurance? If not, you could be missing a trick. By comparing health funds, you get a better idea of whether you are making the right choice. Here, we will be looking at AHM.

Health fund information

AHM has been around for over 40 years, having started out as a small club in 1971. It was set up in Wollongong and had a strong NSW focus. These days, it is one of the most well-known Australian health funds with members across the country. AHM is a wholly-owned subsidiary of Medibank Private. The Medibank Board are in charge of overseeing AHM and its corporate governance.

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Key features

AHM’s mission is based on member care and ongoing wellness. To this end, they also offer health management programs. This includes coaching to achieve health goals, pregnancy and parenting support, and support for chronic and complex health conditions.

Awards

AHM was voted Best Health Insurer in 2011. This was in the Australian Financial Review’s Smart Investor SMILES Survey 2011/12.

Types of cover

Like most health funds, AHM offers hospital cover, extras cover and a combination of both.

Hospital Cover

All AHM Hospital packages include the standard benefits of having hospital cover. Want to be covered for things like psychiatric, rehab, obstetrics, cardiac surgery and joint replacement? Then you will need to go beyond Basic Hospital cover and look at their broader Hospital packages.

Extras Cover

AHM’s Basic Extras cover includes routine dental, optical, pharmacy, physio, chiropractic, osteopathy and alternative therapies.

If you want to be covered for more than this, their Lifestyle Extras policy also covers refractive sight correcting laser eye surgery (after a 3 month wait), psychology and hypnotherapy. Do you have kids? Family Extras also covers speech therapy, podiatry, occupational therapy and eye therapy. There are none of the usual waits for many popular extras. AHM has waived two and six month waits on extras.

Hospital and extras cover

Want to combine hospital and extras cover? AHM has packages designed to suit different life stages. This can help you to find cover that is appropriate for you. For example, a couple who are not planning to have children may not have the same needs as a family. There are packages to suit families, younger singles and couples, and older singles and couples.

Ambulance cover

This is included in AHM hospital cover for policyholders who live in NT, SA, VIC or WA. If, however, you live in NSW or ACT then you may want to think about getting ambulance cover as it is not included in those states. Bear in mind that you have state-provided cover if you live in QLD or TAS.

Making claims

There are several ways that members can make claims. For extras, you can claim online. There is also the option to print off a claim form and return it to AHM (by free post) or to claim by phone.

AHM also offers HICAPS for members. Not familiar with this? It stands for Health Industry Claims and Payments Service. It is electronic and works in real time. Claims are processed there and then at your health care provider, so it is a quick and easy way to claim.

Member rewards

Assuming that you have an eligible policy, AHM members can take advantage of AHM Dental and Eyecare Practices. Benefits include regular check-ups and cleaning, and discounts on dental and eyecare products.

Members can also access rewards from AHM’s partners. These rewards may vary, but they usually relate to health, fitness and lifestyle.

Locations

AHM is based in Wollongong in NSW. Their Dental and Eyecare Practices are also located in NSW. They have two Dental and Eyecare Practices in Haymarket and Parramatta. There is also a Dental Practice in Wagga Wagga.

Next time you are doing a health insurance comparison, don’t forget to compare health funds. It is vital to be thorough when you compare health insurance, and looking at health funds in detail can be a key part of this.

Compare Medical Insurance with Your Past Coverage

Chris — Sun, 13 May 2012 23:45:52 +0000

When it comes time to buy health insurance, you are going to have a lot on your mind. From the price to the coverage, don’t be surprised if you are a bit confused. As stressful as this can be, it is good to know that you are not going through this alone. In other words, there are many other people who are facing the same decisions as you.

Fortunately, there are steps you can take to compare health insurance with a greater degree of success. Once you are on the right track, it will be easier to see which policies suit you best.

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One of the things you can do is search and compare health insurance based on the type of coverage you have had in the past. By doing this, you will find it much easier to make a final decision on what to buy next.

Did You Like Your Past Policy?

Simply put, you need to decide if you were entirely satisfied with the coverage that you had in the past. If you were, there is nothing wrong with buying a similar health insurance policy in the future. On the other hand, if you find that your past coverage is not what you want for the present, it is time to look at other options.

As you search for a new policy, make sure you have the details of your past coverage in hand. This will make for a fast and efficient comparison process.

How Much Did You Pay in the Past?

It is one thing to find coverage that is better than what you had in the past. It is another thing entirely to choose a health plan that you know you can afford. In a perfect world, you would always be able to find better coverage at a lower price. This may not be the case, but a comprehensive search will help you find out what deals are available.

Make the Necessary Changes

Take a close look at the type of coverage you had in the past. This will give you a better understanding of what you liked, what you did not like, and which changes you can make moving forward.

As you continue to compare your many options, you will slowly narrow down your favourites until you have a small number of policies in mind. Choosing one policy to purchase will be much easier if you’ve already thought all the details through.

Health Fund Sign Up Bonuses for May 2012

Sally Aquire — Thu, 10 May 2012 23:42:03 +0000

Don’t have health insurance yet? Now is a good time to compare health funds and see your options. To encourage your custom, health funds will often offer sign up bonuses. Tempting as these may be, don’t let them dictate your decision. Your needs should always form the basis of any health insurance comparison.

What if two or more health funds come out equal in your comparisons? Sign up bonuses can make the decision easier. Checking health fund websites for the latest bonuses can take some time, so we have done the hard work for you and rounded up some of the best sign up bonuses for May 2012 for you. Unless otherwise stated, you need to join the health fund before May 31^stto take advantage of these offers.

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Waived waiting periods

If you are not familiar with health insurance, you may not realise how this works. Waiting periods will apply if you have not had health insurance before. You will not be able to claim until this has been served. This may seem unfair, but it is intended to keep premiums costs down.

Major dental work carries a twelve month waiting period. Pre-existing conditions and pregnancy benefits also have twelve month waits. Most other extras have two or six month waiting periods.

Health funds will often waive the two and/or six month waits as a sign up bonus. This means that you can forgo the usual wait and claim straight away if needs be. AHM, Australian Unity and GMHBA are currently doing this for both two and six month waiting periods. HCF is also doing so if you join online. HIF and NIB are waiving two month wait times.

Note: Don’t forget to read the terms and conditions. While some health funds do include all eligible extras, others will impose restrictions. Some extras may not be included. You may also only qualify through specific policies.

HCF, Australian Unity and NIB require you to take out Hospital and Extras cover. Along with GMHBA, they also exclude psychiatric, rehabilitation and palliative care extras from their offers. If you wish to take out any of these extras with either of these health funds, the usual two month wait will apply.

Free cover

Some health funds will offer more affordable cover as a sign up bonus. This often means getting a specific month for free, or a set number of days of free cover. With CUA, the first month is free if you sign up in May. For AHM, the second month comes free. HIF have an ongoing offer with 43 days of free cover. Pay your first month premium and the following 43 days are free.

Free gifts

Free gifts are sometimes offered as a sign up bonuses. BUPA are giving free movie tickets with Hospital and Extras cover. This offer excludes their Active Saver cover.

Summing things up

Sign up bonuses can be useful if you are struggling to choose between health funds. Compare health insurance for your needs first. If that throws up more than one option, sign up bonuses can then come into play.

Private Health Insurance Comparison Doesn’t Have To Be Hard Work!

Chris — Wed, 09 May 2012 00:10:31 +0000

Are you in the process of comparing private health insurance policies? Are you interested in finding the company that is best for you at the present time? Although some consumers turn this into a long process, the fact of the matter is simple: you can compare your options in a quick and efficient manner if you know what you are doing.

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Stay Patient

As you begin to search for private health insurance, take your time and be patient. If you get too far ahead of yourself you may make a decision that doesn’t suit you well.

If you need coverage now, you may be in a hurry to buy. That being said, you don’t want to move so fast that you miss out on any key details.

Take Notes

As you continue with the private health insurance comparison process, you are sure to come across tons of information. Are you taking notes on what each plan has to offer? Are you writing down what each company can do for you? You will continually come across important details. The more of these that you write down the better off you are going to be.

Tip: you can also “bookmark” important information that you find online to ensure that you can locate it again in the future.

Use the Internet

In today’s day and age, the internet is a very popular way to compare private health insurance policies. When you use the internet, you can request quotes while also learning more about the many companies that offer the type of coverage you are most interested in.

Don’t be shy about searching far and wide online. Remember, this has nothing to do with actually buying a policy at this stage. Instead, you are simply searching for information.

Make a Few Phone Calls

It is one thing to find private health insurance information online. It is another thing entirely to make a purchase – this is a big decision. If you have any questions on your mind, contact the provider and get some timely and accurate answers to your queries.

Know Your Wants and Needs

Every consumer is different. For this reason, you need to know what you are looking for as you shop for a policy. This includes deciding your budget as well as the type of coverage that you want. If you don’t know what you are looking for, making a final decision is going to be a difficult task.

Many consumers believe that comparing private health insurance options has to be a long, difficult process. However, this is not true. By following the tips above and your common sense, you can compare the available options to get a better chance of finding a policy that is right for you.

Why spend more time and energy on comparing policies than you have to? Instead, you can decide your priorities before you begin, and save yourself time and effort.

Private Health Funds: HCF

Sally Aquire — Mon, 07 May 2012 00:02:56 +0000

In any health insurance comparison, knowledge is power. It is vital to conduct a thorough health insurance comparison to find one that best fits your needs. Taking the time to compare the health funds themselves as part of this is useful. Here, we will be looking at HCF.

Health fund information

HCF was created in 1932. In 2012, it is the largest Australian not-for-profit health fund. Their mission is based around providing affordable and quality health insurance. Retirement and aged care is also high on the agenda.

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Types of cover

Like most health funds, HCF offers the choice between hospital cover, extras cover or both.

Hospital cover. There are two main options if you only want to have hospital cover. The Hospital Advanced Savings package offers basic hospital cover. The Top Plus package offers broader hospital cover. It is also aimed at people aged over 65.

Extras cover. The Multicover package is for extras cover only. You get fairly comprehensive extras benefits with this package. This includes dental benefits, optical benefits, therapies and natural therapies.

Combined hospital and extras cover. Want to have hospital and extras cover? HCF have several combined packages aimed at specific needs. There is cover aimed at young singles and couples, couples planning to start a family, families, older singles and couples and older people. Don’t forget to do a thorough health insurance comparison. This will allow you to find the best one for your needs.

Key features

HCF is committed to giving generous benefits to its members. Examples of current member benefits include the Oral Health program. HCF also works to maintain its reputation as the best no-gap medical cover in Australia.

Loyalty rewards

At HCF, you are rewarded for being a member. The rewards increase for each year that you keep your membership. For example, the amount that you can claim on extras goes up year-on-year.

Locations

HCF has branches in New South Wales and Australian Capital Territory. Here, you can become a member, get advice and make claims. There are also HCF kiosks in Victoria, Queensland and South Australia. However, you cannot make claims, or make cash payments for premiums, at these kiosks.

HCF has agreements with a number of hospitals across the country. You can search for your nearest participating hospital here.

If you take out Extras cover, you will get dental benefits. These can take place at any of the seven HCF Dental Centres in NSW. If you do not live near one of these, you can get no-gap dental services through the HCF Oral Health Program. There are 3000 registered providers in Australia. This includes Queensland, Victoria, Australian Capital Territory, South Australia and New South Wales.

With Extras cover, you also get optical benefits at HCF Eyecare Centres. The More For Eyes Program is available in these centres in NSW. It can also be found in Specsavers stores across Australia.

It is always helpful to get an overview of health funds as you compare health insurance policies. If nothing else, it gives you the bigger picture. Knowing more about health funds can be just as important as their policies.

Private Health Insurance Comparison for Athletes and Sports Players

Brian — Fri, 04 May 2012 00:12:11 +0000

Are you an athlete or sports player looking for health insurance? Do you participate in active sports often? This can introduce some special health care needs that can affect how you compare health insurance.

Some sports players and athletes receive a degree of health insurance through their team or organisation, so find out if this is the case for you. That type of health insurance will not necessarily cover everything you want, though, so you may still end up comparing health insurance for your own purposes.

Your Specific Health Needs

In any health insurance comparison, one of the preliminary steps is to identifying your precise health care needs, and those that you are likely to have in the future.

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There is no simple formula for doing this, unfortunately. Taking account of your sporting activities, you may want to look for coverage that can meet your needs for sports related healthcare. For instance, here are some examples that may be relevant to you:

Locations: Do you travel to play your sport? If so, you might need medical assistance when away from your home town (even for something unrelated to sports).
Known risks: Are there any injuries or other medical conditions that are known to be common in people who participate in your particular sport? You may want to ensure that your health insurance covers these ailments.
Extras: From coverage for personal trainers to physiotherapy treatments or medications, you might want to take a look into which extras are part of your policy, and how they fit with your sporting life. Always check what won’t be covered, too.

Balancing Your Needs

Aside from identifying any particular sports-related medical needs you have, the important thing is to balance those specific needs with the everyday health care you may need whether you play sports or not:

What health care might you need, and what is or isn’t covered by the policy you’re looking at?
What are your regular medical needs? Do you already receive treatment for something, and if so is this likely to continue?

Decide upon the range of medical coverage that you need. You might want to comprehensively insure yourself with a high level of cover, or you may choose a lower coverage that only covers the specifics you want. Whatever the case may be, you must identify your most important needs in order to figure out your health insurance comparison priorities.

Look over policies in full to check the level of coverage that will be involved. Once you know what you need, it will be easier to weed out the ones you don’t want. This will help you to choose a private health fund to help you with health care costs, sports related or otherwise.

Will Health Insurance Help With Alcohol Addiction Rehab?

Sally Aquire — Wed, 02 May 2012 00:47:47 +0000

Many people like to drink alcohol but for some, it can lead to addiction. Over time, a tolerance for alcohol can develop. This means that more alcohol needs to be drunk to get the same effects. Alcohol addiction can lead to problems with physical and mental health.

You may assume that little or no support will be given for treating alcohol addiction, but this is not the case. Medicare offers limited support, and private health insurance covers more.

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How is alcohol addiction treated?

The ultimate aim is to get off alcohol and stay off it. Alcohol withdrawal is a key part of the treatment plan. This can happen at home, in hospital or in an inpatient clinic. Counselling can be prominent in treating alcohol addiction. Support groups can also be useful.

Medications are often used in withdrawal treatment. There are several different medicines that may be prescribed. This includes Diazepam, Thiamine, Acamprosate, Naltexone and Disulfiram. Some of these are on the Pharmaceutical Benefits Scheme (PBS).

Will Medicare help?

Alcohol addiction and mental health problems can be closely linked. Alcohol addiction is not specifically covered by Medicare, but you may still be able to get support. The Better Access initiative can help.

You will need to see your GP, who will assess whether you are eligible for support. A treatment plan will be devised to outline the treatment that you will need. You can then be referred to a psychologist or psychiatrist for treatment. For the former, you can receive up to 10 therapy sessions per calendar year. A further 6 sessions may be available in “exceptional circumstances”. It is up to your referrer to decide whether you qualify for this. These treatment limits are expected to be the same into 2013.

Although Medicare rebates are available, remember that out-of-pocket costs may still occur. This can happen if a psychologist charges above the Medicare schedule benefit. In this scenario, you must pay the gap between the two.

The PBS can help with medicine costs. Some of the drugs used for withdrawal treatment are on the PBS. The main exception is Disulfiram. This is not a first choice treatment, and is not subsidised.

How can private health insurance help?

Private health insurance can be more supportive than you might think. For example, hospital cover may extend to private treatment in an alcohol addiction centre. Check your policy to see how extensive your coverage is. You may be covered for a short stay or for an extended stay. If you need to stay longer than your policy covers you for, be aware of potential out-of-pocket costs.

Doctor’s fees may also be covered by private health insurance. If you need to access out-of-hospital services, some of this may be covered too.

A word of caution

Don’t assume that alcohol addiction treatment will always be covered by private health insurance. It may be restricted or excluded on some policies. Bear this in mind when you compare health funds, or you could later find that you are not covered by the policy you’ve chosen. Conduct a thorough health insurance comparison before you commit yourself.

Medicare Levy and Medicare Levy Surcharge: What’s the Difference?

JE Cornett — Sun, 29 Apr 2012 23:47:09 +0000

It’s easy to become confused by the array of terms used to describe different aspects of the Medicare health care system. If you’re scratching your head wondering what the difference between the Medicare levy and the Medicare levy surcharge is, here’s some help sorting it out — and avoiding the surcharge, if you qualify for it.

Medicare Levy Explained

The Medicare health scheme gives all Australians access to health care. For that reason, most Australian taxpayers fund the scheme through taxpayer contributions. That’s where the Medicare levy comes in. To help fund the Medicare scheme, most Australian taxpayers pay a Medicare levy of 1.5% of their taxable income. The levy is automatically deducted from your taxable wages by your employer.

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Exemptions from the Medicare Levy

Some Australian taxpayers are exempt from paying some or all of the Medicare levy. Foreign residents, residents of Norfolk Island, those not entitled to Medicare benefits, or those who meet certain medical requirements may not be required to pay the full levy. Those entitled to an exemption must claim the exemption status on their tax returns.

Additionally, the Medicare levy is reduced or removed for those who meet certain income thresholds. For instance, low wage earners may have their levy reduced or removed; in the 2010-2011 tax year, those making less than $22,163 qualified for a reduced levy, while those making less than $18,839 had the levy removed completely. Keep in mind that these thresholds change for seniors, and that family size compared to taxable income may also affect the status of levy reduction or removal.

Medicare Levy Surcharge Explained

Government initiatives to encourage the purchase of private health insurance by high wage earners means that some Australian taxpayers must pay a Medicare Levy Surcharge in addition to the standard Medicare Levy. For the 2011-2012 tax year, residents who made $80,000 as a single person with no dependents, or $160,000 as a couple with no children/one dependent child (plus $1,500 per each additional dependent child) and who did not carry appropriate private insurance cover were responsible for the levy.

The levy for the 2010-2011 tax year was 1% of the total of taxable income, reportable fringe benefits, and any amount on which a family trust distribution tax has been paid. This percentage has changed for 2012, as the Medicare Levy Surcharge increases for some people.

Avoiding the Medicare Levy Surcharge

Even if you’re a high wage earner, you can avoid paying the Medicare Levy Surcharge by taking out private health insurance. In order to avoid the levy, you will need to purchase hospital cover with an excess of $500 or less per year (if you are a single person) or $1,000 or less per year (if you are purchasing for a couple or a family). You must purchase the cover from one of the approved health funds.

The Secret to Effective Health Insurance Comparison: Staying Organised

Brian — Thu, 26 Apr 2012 23:32:50 +0000

Navigating the ins and outs of health insurance comparison might seem tricky. However, there is one tip that really helps to make it all easier. Follow along to see what being organised can do for you when you compare health cover.

The First Step in Being Organised

You can’t expect to be organised if you just jump into your health insurance comparison and start looking at premiums. You must know the details of where you currently stand, in your health care needs and your budget, before you can effectively compare policies.

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Take a look at your current policy, if you have one. If not, look at your Medicare coverage and any expenses that your health care currently costs you. Find a method that works for you to break down what are, for you, the most vital points of coverage. Whether you use a spreadsheet, a notebook, or something else to keep your notes, consider the primary aspects of importance in your policy:

Basics: Look at the type of policy you have. Note deductibles, co-pays, and premium. Consider how much money you spend out-of-pocket on healthcare under your policy, as a baseline for comparison.
Coverage Limits: How much is your policy worth in hospital cover? Note any restrictions on these limits, in case you ever require repeated hospital visits or a high-cost hospital treatment.
Your Needs Met: Observe the extent of your covered health treatment network, any prescription coverage, and anything else that’s important to you. For instance, your current plan may include extras such as chiropractic cover.

Health Insurance Comparison

The steps that you take to be organised before you begin will make everything else much easier. If you do a good job in staying organised, you will be able to compare other health insurance options with relative ease. Consider the following tips:

Differences: When you compare potential health insurance options against what you already have, you will be able to discern the differences between the two. Thus, you will be able to identify which is stronger or weaker in certain points of coverage.
Your Needs Met: Perhaps you’re looking for a particular coverage to meet your health care needs; compare the insurance options available to the way your current insurance does or doesn’t meet that need.

Remain organised when you compare health insurance policies. Use your current health cover as a starting point, and note down the most vital things to compare. Once you do this, you can then see which of the policies on offer provide the best value for money in your case. You can also systematically work through other items of interest and add these to your notes, such as the reputation of prospective insurers.

Overall, keeping everything in order will make the process much easier on your. There are many keys to comparing health insurance – this one can help keep it all in line.

4 Things You May Not Know About Private Health Insurance Comparison

Brian — Wed, 25 Apr 2012 00:12:44 +0000

Are you ready to get started on your private health insurance comparison? Knowing as much as possible will help you safeguard against possible problems. Follow along for some small points that are important to be aware of during this process.

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1. The Exclusions and Limitations are Vital

During your health insurance comparison, you might find a great looking policy – at first glance, anyway. The health fund has all of the main coverage categories laid out in an easy table on their website. You can see the policy limits for hospital cover, network basics, and prescription drug coverage – and then the premiums for the plan. It may all look perfect.

However, there may be terms and conditions to the policy that dramatically reduce its usefulness and value for money. This is typically true of extremely cheap health insurance, but may also be seen in some pricier policies. Read the full policy, including all of the exceptions, limitations, and other details, before you make your choice.

2. You Might Not Need It

Not everyone benefits from private health insurance. Why is this the case? For some people, and more accurately, their budgets, Medicare is all that is needed. However, there are also other points that may make a private health insurance comparison unnecessary.

Your spouse may be able to have you covered under their policy. Or, you may be able to get a good health insurance through your work, trade organisation, or business owners association. If one of these is the case, you may have no need of any other health insurance.

3. You May Save Money on Health Insurance

When you compare insurance policies of any kind, there are often a few ways to save money. From raising excesses, which may in turn reduce premiums, to the perks of being a loyal customer, look for special rates, discounts or offers for which you may be eligible. It’s always worth asking the health fund representative whether they know of any ways you could save a little extra money when you sign up for private health insurance.

4. Medicare is Your Back-Up

Take a look at what Medicare covers. Many people don’t realise what a strong tandem Medicare forms with private health fund cover. Take a look at the Medicare Benefits Schedule to see what’s covered.

Need to save money on a private health policy? Maybe you could consider a basic private health insurance policy to help you get the tax benefits and health benefits involved, but then use Medicare for the remainder of your health needs. You don’t have to get a top-of-the-line private health insurance to benefit from the health insurance Australia has to offer its citizens.