Private Health Insurance Australia

Medicare vs. Private Health Insurance in Australia

Medicare is the national health plan available to citizens of Australia at no cost. Medicare provides for hospitalization, physician services and pharmaceutical coverage although patients may be financially responsible for a percentage of the costs. Typically, Medicare will pay about 75% and the balance is billed to the patient. Private health insurance in Australia is available to help meet Medicare's uncovered expenses or to provide additional benefits.

Benefits of Private Health Insurance in Australia

Private health insurance in Australia can be used in either public or private hospitals. Many people who opt for private health insurance in Australia are be able to choose their physician. Other benefits may include coverage for dental, vision, chiropractic, ambulance or home nursing services which are not covered under Medicare. Private health coverage may be purchased for hospital and/or ancillary services. As of September 2004, 45% of Australians carried private insurance for hospitalization. And for every dollar spent on private health insurance, the Australian government refunds thirty cents to the consumer. As good as a private plan might be, it does come at a cost. Since 1996, the average premium for private plans has risen by 60%. Many insurance companies blame aggressive treatments for the increase. Insurance companies point out that all premium rates are approved by the government's regulatory bureau

Securing Private Health Insurance in Australia

The Private Health Insurance Administration Council (PHIAC) is an independent agency with statutory authority which regulates the private health insurance industry. Private health insurance policy is determined by the Australian Commonwealth Department of Health and Ageing. To sell private health insurance in Australia , companies must be registered and comply with the National Health Act of 1953. A listing of approved companies and consumer advice can be obtained at http://www.phiac.gov.au/ .

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