When it comes to choosing a private health insurance policy, there are a number of important things to think about.
What type of cover do I want?
Most health insurance providers offer hospital cover – which allows you to make claims for hospital treatment and in-patient medical expenses at private or public hospitals within your insurer's network – and extras cover. The latter refers to the services not usually covered by Medicare – for example, you may wish to add on optical or dental cover, or alternatively natural therapy, physiotherapy and chiropractic treatment, depending on your age and requirements.
Some insurance policies are more flexible than others – for example, you can sometimes combine your hospital cover with extras of your choosing to create a policy that works for you.
How much insurance do I need?
Your healthcare requirements will change over your lifetime – young, single Australians may prefer a low or basic cover option, while those with children or who want a higher level of private health insurance cover may instead wish to consider a comprehensive cover option.
Carrying out a health insurance comparison can help you to weigh up your options – and it's important to continue evaluating your cover on a regular basis to assess whether it is still meeting your needs.