Hospital vs extras cover

All private health insurance funds offer customers an array of choices and benefits, so is basic hospital cover for you or do you need extras cover for those ancillary problems?

Hospital cover

If the guarantee of a hospital bed whenever you need it is all you want, then Hospital Only cover is for you. However, different funds offer different benefits and it is worth checking around to ensure your chosen fund encompasses all your needs. You can also cut costs even more by taking up cost reducing options such as putting a cap on daily costs and paying a higher excess.

If you require your private health insurance cover to be both financially viable and comprehensive, most funds will offer a premium Hospital Only cover, designed to cover most hospital costs.

The main consideration when taking out Hospital Only cover is that of hospital choice. Many funds have agreements with certain hospitals and if you choose to get treated in a different hospital then your insurance may not cover you for the full fees. Check with your chosen fund.

Another factor to be considered is that of exclusions and restrictions. Some treatments that may be excluded or restricted are:

• major heart surgery;
• cosmetic surgery;
• hip, knee and other joint replacement;
• obstetrics; or
• rehabilitation cataract eye surgery.

Extras health cover

Regular visits to certain specialists or an interest in alternative therapies could force you to think seriously about taking out extras cover. The extra benefits available can include:

• dental treatment;
• podiatry;
• chiropractic;
• physiotherapy;
• alternative therapies such as herbal remedies, acupuncture or acupressure;
• occupational therapy;
• speech therapy;
• glasses and contact lenses; and
• costs associated with prostheses.

Choosing the right cover can be difficult but if you do decide to take out extras cover make sure you check any restrictions your fund has, such as setting a maximum limit on the total amount you can claim per year.