Older Australians have been hit with a triple whammy when it comes to health insurance costs in 2021. Premiums have gone up twice in under 12 months*, gap fees have gone up by an average of $319** and now the Medicare Benefits Schedule changes threaten to send gap fees soaring^.
From 1 July, there’s been changes to 900 items on the Medicare Benefits Schedule (MBS) and healthcare experts are predicting that patients who need specialist surgery could be left even further out of pocket. It’s why many over 60s are switching to policies that reduce the risk of having to pay both high premiums and high gap fees.
According to Australian Government statistics, between March 2020 and March 2021, gap fees rose by an average 8.3%. With the incoming changes to the MBS schedule, those gap fees could be set to rise further.
These schedule changes affect general surgery, orthopaedic surgery and cardiac services, including bypass and heart surgeries. Nothing is set in stone as yet, it’s likely that gap fees for these services will increase, leaving patients further out of pocket.
If you’re already paying high premiums and are no longer actively employed, these increased gap fees could be a crippling cost for older Aussies.
That’s why Health Insurance Comparison employs specialists who can hunt down known and no-gap policies for people who are worried about extra costs for treatment on top of their already expensive premiums.
Surgeons and other specialists, such as anaesthetists can set their own fees, so unless your hospital cover has no-gap arrangements with your healthcare providers, you may be left with a hefty extra out-of-pocket charge if you’re on an inadequate policy.
It costs nothing to find a better policy
Health Insurance Comparison doesn’t charge any hidden fees or mark up costs. In just a few minutes you can see if there’s a cheaper policy that covers what you need, while our expert team is always on hand to talk through options and find a fund that has no-gap or known-gap arrangements.
We even handle all the paperwork, so all you need to do is find the policy that’s right for you – one that doesn’t leave you out of pocket come treatment time.
Get Started Now:
Step 1: Select your state below .
Step 2: After answering a few questions, you will have the opportunity to compare quotes in your area and could be eligible for significant savings.
*Health.gov.au, List of historical premium increases, Jan 2021.
**APRA Quarterly Private Health Insurance Statistics, March 2021
^ABC, Medicare rebate changes for surgeries kick in next month, but doctors say more time is needed, 7 Jun 2021
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