In Australia, the public health system Medicare, which is a Commonwealth Government funded program, covers most Australian residents for health care.
However, Medicare does not cover everything and you can choose to take out a private health insurance policy in order to give yourself a wider range of health care options and more comprehensive cover.
There are usually two types of cover: Hospital and Extras.
Hospital policies help cover the cost of the in-hospital treatment by your doctor, and hospital costs such as accommodation to stay in a ward and theatre fees for surgery.
Generally, medical services listed under the Medicare Benefits Schedule are covered by private hospital insurance. However, make sure you read the Product Disclosure Statement (PDS) and the terms and conditions of your policy.
Extras cover provides benefits for non-medical health services such as dental, optical, physiotherapy, and chiropractic treatment.
In some cases there may be strict time limits. Any person who may have a claim on a health insurance policy should seek advice as soon as possible to ensure a claim is lodged within time.
You should always seek independent financial advice to decide whether this type of insurance is suitable for you.
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