On Health Insurance

There are a few different types of insurance out there, though the one I come across the most often, is health or medical insurance.

This is the type of insurance that covers costs for investigations - such an x-ray or ultrasound scan, as well as seeing a specialist 'in private' - as opposed to being referred to the public waiting list to see a specialist at the public hospital clinics.

There have been a rise in advertisements recently, promoting affordable health insurance packages.

I have but one thing to point out: read the Policy Document!

Different packages come with different cover, and not all insurance policies are created equal. Make sure you look through the documents that describes what you are entitled to with that particular policy.

For example, the majority of the health insurance policies out there will not cover treatments for diseases that is not funded by the public health system. Therefore, if you get X disease, and the medicine used to treat X disease is not funded by the public health system, the insurance policy will not pay for this treatment either.

Such is the finer details that can catch people out, and I have had more than a handful of patients who feel blindsided by such revelations when they were thinking "it's alright, the health insurance will pay for it".

 

Unfortunately the wording of insurance policies is an exact pursuit, so you will be presented with pages and pages of clauses and exceptions and exclusions and definitions...

The best way, is to find an insurance broker, and ask them to sit down and go through each part of the policy, and how it would apply to you.

If you have had the foresight to purchase health insurance, do not let the couple of hours you need to understand the policy catch you out!