Healthcare is a universal thing in Australia, and they are provided by both the government and private institutions. The sheer variety of healthcare plans and different providers means that choosing one that fits your and your family’s needs can be a daunting task.
Bountify notes that there are many factors that should determine your choice of healthcare plan, and sometimes it isn’t just what is covered and what isn’t that you need to consider carefully.
The Cost of the Plan
On top of what the healthcare plan covers, its cost should be a defining factor that affects your choice. Generally, the higher the monthly premium you pay upfront, the lower the out-of-pocket expenses are when you receive medical care. A platinum tiered health plan, for example, covers 90% of costs whereas Bronze only covers 60% of the costs.
What does this mean for you? If you believe that the medical conditions you or your family has are more expensive, a plan with a higher premium is the better choice since the out-of-pocket expenses are barely noticeable. On the other hand, it isn’t wise to get a higher premium plan if you and your family are generally healthy individuals.
Within the Network
While healthcare is indeed universal, the doctor or hospital that you prefer may not be part of your health insurance’s network. This is something that many people tend to forget checking, and they eventually end up regretting the healthcare plan they get because the insurance company won’t cover the bill. In the event that they make an exception and cover the cost, you’ll find that you’ll actually have to pay a higher share of the cost.
If you are regularly visiting a specific doctor or hospital, it’s a good idea to ask the insurance provider if they’re part of the network and if the costs will be covered. If you’ll be getting your healthcare plan from your job, you may ask your human resource or employee benefits department for a list of the doctors and hospitals the provider works with.
By taking note of these other factors, you’ll avoid the possibility of choosing the wrong healthcare plan for you and your family.