Relocating to Australia is a fantastic option, given the breathtaking coastal regions and the colossal ecosystem management. Whether in classic Sydney or the tropical Macquarie Islands, moving to this remarkable continent has plenty in store for you. However, you must digest the healthcare system and how you can attain health insurance for yourself and who you may be relocating with.
The Australian healthcare system and financial arrangements can be heavily attributed to their historical advancements and government system. Expats find understanding the coexistence of private and public influences on healthcare extremely complex. Publicly-financed healthcare is funded through government-approved schemes like Pharmaceutical Benefits Scheme (PBS), while fundings in private healthcare are a complete individual investment. Private health insurance covers all the ancillary treatment costs from a private hospital in areas like dental, physiotherapy, optical, and many more.
Confused already? You don’t need to worry about a thing. In this article, you will understand the nits and grits of the latest Australian healthcare system and how you can get life insurance with greater ease. This guide will serve as an outline of all you need to know about the Australian health insurance structure, so read on!
Source: insured.com
Contents
Private Health Insurance Sector
The 19th century Australia saw the creation and establishment of private sector involvement in the healthcare industry, which is heavily attributed to their societal outlook. Today, over 37 registered private health insurers exist where profit-making and non-profit-making organizations coexist. Their operation is non-restrictive, making them available over a range of jurisdictions nationally.
Before getting down to getting health insurance in Australia, it is important to note the three essential categories of the private healthcare system:
Hospital Coverage
Australian insurance gives you free will to opt for the hospital and the doctor. This essential feature sets it apart from public health care and will prevent you from extended waiting periods. Private hospital treatment tends to be higher in comfort and luxury, with more excellent food, atmosphere, and other notable perks. Thanks to rapid advancements in the private healthcare industries, you can seek medical assistance faster. There are a total of 4 tiers of accessibility, and the tier you choose can influence the scalability of insurance coverage:
- Basic or General Tier
- Bronze Tier
- Silver Tier
- Gold Tier (where joint replacement surgeries and maternal delivery are covered)
Source: life.futuregenerali.in
Extras Coverage
Another exciting aspect is the general treatment coverage, which includes optical diagnosis, audiology, orthodontics, home nursing, dental, and many more. A term that might familiarize you with the annual limitation is the “cash plan system,” which restricts the charges to a specified limit per year. Depending on your residence, you will have different coverage rates for these extra charges. It covers the following aspects:
- Dental diagnosis and treatments
- Physiotherapy
- Chiropractic services
- Occupational therapy
- Optical and vision care
- Podiatric services
- Psychological therapies
- Home Nursing
- Acupuncture
Ambulance Coverage
When opting for public healthcare insurance, your ambulance charges are an out-of-the-pocket investment for the insured. However, Australian private insurance would be more than willing to cover your ambulance charges, depending on the state. Certain state governments have free ambulance services and exemption policies under practice, which makes private life insurance a more viable option for expats.
Source: medium.com
A Brief Comparison Between Public And Private Healthcare
The public healthcare system in Australia is regarded as Medicare, the funds for which come from the tax-paying public. Medical services are provided to Australian citizens at subsidized prices. Medicare is accessible to a wide range of people, including New Zealand citizens, permanent immigrants, permanent residents, and healthcare agreement visitors from the global ground. Medicare covers general practitioners and diagnosis, tests and scans, most surgical procedures, optical evaluations, and others. However, it is not a popular option due to the following reasons:
- Ambulance costs
- Dental evaluations and treatments
- Optical lenses
- Physiotherapy
- Non-essential treatments
Private health insurance comes with a number of general benefits, like shorter waiting periods and broader coverage of medical assistance. The neat part about this privatized aspect is the government incentives for private health insurance investment. For instance, insurance rebates are paid by the government, thereby reducing the premium costs for eligible individuals. Another initiative would prevent you from paying the annual hike in premium rates. This policy is called the Lifetime Health Cover, or LHC. Medicare levy surcharge, another public incentive, is the discouragement of public health insurance by charging higher rates for public ones.
Health Insurance Cost Structure
The cost aspect of private healthcare heavily depends on the tier you opt for. On average, the cost of coverage is typically about $165-170 on a monthly basis. Gold-tier policies, for instance, will cancel the hospital and extra charges but would demand a higher price. It becomes imperative to cite your requirements through and through. Visiting fairhealthcare.com.au can come in handy as they provide a comprehensive healthcare package comparison that enables you to make an informed choice. They will closely analyze your preferences and cite the best policies available for optimal benefits over services ranging from dental, optical, physiotherapy, chiro practitioner, and more.
The eligibility varies from state to state, but a good reminder is to register for these insurance policies within a week of relocation. Ensure you have the essential documents for registration, including an Australian passport, travel documents, and your visa.
Source: theaustralian.com.au
Benefits Of Private Australian Health Fund
With over 600 private healthcare institutions up your alley, opting for private health insurance will ensure optimal comfort and accessibility for a smooth healthcare journey. There are over 25,000 doctors and an abundance of specialists who treat specific communities.
- They are the most attractive option in terms of affordability and variety of options.
- Government subsidies incentivize privatized insurance policies, which also enjoy the benefits of dental and optical treatment coverage.
- Prescriptions are also under coverage.
Conclusion
It is often a proud statement that there are more than 5000 pharmacies spread over the continent. With such attention to healthcare, Australia has been regarded as the 6th best country for high life expectancy. The medical system in Australia is quite complex for an international resident but is one of the most thoughtful and easily accessible structures globally. Hopefully, this article has served as a practical guide to your understanding of private insurance in Australia. Bear in mind that research is critical no matter where you reside.
