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Health Cover for Seniors
The older we get, the more we tend to focus on our healthcare and the quality of treatment we receive. Your needs may become more complex, with more frequent trips to the doctor or specialist, which can take up your time and resources. If you haven’t thought about seniors health insurance or you haven’t checked your cover in a while, now is the right time to look into it.
What are the different types of seniors health cover?
Private health insurance policies fall into three categories: hospital cover, extras cover, or combination cover. The type of health insurance cover you take should reflect your lifestyle, age, and relationship status now and into the future.
Although there is no official private health insurance product called seniors health insurance, some policies have advantages for seniors, particularly those covering health concerns that are more common in later life.
Once you have an idea of your needs, GoSwitch can help you find the right health insurance policy from our range of providers.
Hospital Cover
There are four private hospital cover tiers – Basic, Bronze, Silver, and Gold. Tier upgrades can include silver plus for extra peace of mind. Depending on your health insurance tier level, you can choose your preferred doctor/surgeon and cover a wide range of hospital treatments, such as:
- Joint replacements (hip, knee, etc.)
- Heart surgery
- Kidney dialysis
- Treatments for the brain and nervous system
- Cataract surgery
- Palliative care
- Rehabilitation
- Hospital psychiatric services
As you age, a basic level of hospital cover might not be adequate if you have complex or ongoing health needs. A bronze level of cover may be all you need for may ailments such as ear, nose, throat, kidney, and bladder issues. However, you will need a higher level of cover for major issues like joint replacements and kidney dialysis.
Extras Cover
Extras cover can help cover services that take place outside of hospital settings and are not covered by Medicare. Depending on your policy, these might include:
- Dental treatment
- Chiropractic services
- Physiotherapy
- Podiatry
- Medical devices such as hearing aids
- Optical services
- Occupational therapy
- Prescription medication not covered by the Pharmaceutical Benefits Scheme
Helpful Tip – Some extras policies include home care benefits. This can involve services such as injury rehabilitation and administering medication. You will usually find these benefits in more comprehensive extras policies, but the inclusions vary from plan to plan.
Additional ways seniors save on health insurance?
Here are a few ways you can make your health fund save you on out-of-pocket costs.
 | Government Rebates | The Australian Government offers a Private Health Insurance Rebate to help cover some of the costs of insurance premiums. The Private Health Insurance Rebate is income tested, and eligible policyholders over the age of 65 will generally receive a higher rebate. |
 | Medicare Levy Surcharge | This is an amount you may need to pay at tax time if you earn over a certain amount and you don’t hold an eligible private hospital policy for the financial year. |
 | Lifetime Health Cover Loading | This is designed to encourage Australians to take out hospital cover earlier in life. As a senior, you will reap the benefits. Premiums increase by 2% for each year you don’t hold hospital insurance cover following your 31st birthday. |
 | Pre-existing conditions | The good news is that pre-existing conditions won’t increase the price of your premium. A pre-existing condition is classified as an ailment, illness or condition where the signs or symptoms are apparent starting at any time in the 6 months prior to the date you purchase your health insurance policy. In Australia, you can elect to cover yourself for the procedures that are important to you even if you already have a pre-existing condition. However, there will be a waiting period for pre-existing conditions before you can claim for them. Whether an illness or injury is determined pre-existing will be decided by your health insurer’s appointed medical practitioner in consultation with your treating doctor. |
 | Public waiting times | When it comes to elective surgery, waiting times can be long in the public hospital system. Seniors value private health insurance that can shorten wait times for elective surgeries. Depending on your policy, hospital cover could help you schedule a hospital stay and procedure as early as possible, and help you avoid lengthy waiting lists. If you’re struggling with a health condition, like needing a knee replacement, receiving treatment sooner rather than later can mean better quality of life and less out-of-pocket expenses. Taking control of your treatment time puts the cost of private health insurance in perspective. |
Where can I compare health insurance options?
At GoSwitch, we compare a broad range of health policies for singles, cost-effective couples health insurance, as well as family health insurance policies from the best insurance providers to help people find health insurance premiums suitable for their lifestyle and budget. You can search for anything from basic health cover with annual limit thresholds to gold hospital comprehensive cover for ongoing specialist medical care. Simply enter your postcode to get started and speak to a helpful GoSwitch health insurance expert.
FAQs
What is the best health cover in Australia?
The best health cover depends on your individual needs and the insurance premiums (cost) and excess required to pay when making a hospital claim. Some health insurance products might be great for families, while others are better suited to seniors, singles or couples. GoSwitch can help you compare different policies to find the perfect fit for you.
How much does private health insurance cost?
The cost of private health insurance varies depending on your age, the level of cover, and the for-profit health fund you go with. Some funds offer basic cover for a few hundred dollars a year, while others can cost a few thousand. It’s always best to compare different health funds and policies with GoSwitch to find the one that suits your budget and needs.
How do I get two private health insurance policies?
You can split your health cover between two providers if you prefer. This could mean having hospital cover with one insurer and extras cover with another. GoSwitch can help you compare and combine different hospital policies to find the right mix for you.
Does private health insurance cover dental services?
Dental coverage depends on your specific policy and level of extras cover. Many policies cover routine checkups and basic treatments, while some also cover major dental work like orthodontics. Use GoSwitch to compare policies and see what’s included in each.
What is the best health insurance company to go with?
The best health insurance company for you will depend on your individual needs and the specific health services you’re looking for. Some companies excel in hospital cover, while others offer better value for extras. GoSwitch makes it easy to compare different companies and their offerings so you can find the one that’s right for you.