Medibank offers a variety of health insurance plans to suit individual consumer needs. You can choose from single cover, couple cover, family cover and single parent cover.
From there, consumers can choose between hospital-only coverage, extra-only coverage, or hospital and extras, such as “Bronze Everyday” and “Gold Complete,” with varying amounts of excesses and varying levels of inclusion. You can choose a plan that covers both.
Whichever option the consumer chooses, it is imperative that “maternity coverage” is selected when searching for a quote. Because very few Medibank insurance plans include hospital coverage needed for childbirth.
From basic to comprehensive, most Medibank hospital policies include ambulance service and accident coverage, but the majority of additional insurance options include general dental, physical, and vision insurance. is included.
For more specific coverage, higher premium plans are needed, such as hospital coverage for chemotherapy or joint reconstruction, and additional coverage for speech therapy or orthodontics.
It is always essential to read the Product Disclosure Statement before purchasing health insurance to ensure it meets the specific needs of you and your family.
Across various plans, Medibank’s return rate is 83.6%. This is the percentage of contributions received by the insurer that are returned to contributors as benefits.
The health insurer also has an 86% retention rate (hospital insurance-only plans), and its website and subsequent data show it is well served for a wide range of needs. . However, the 2022 data breach impacted public confidence in the company and its overall reputation.
waiting time
All health funds have a waiting period. This is the period of time you must wait after claiming compensation before claiming benefits.
Medibank has a waiting time of two months for most services. However, for Optical and Ultra bonuses, the waiting period is 6 months.
According to Medibank, it is standard practice in the private health insurance industry to apply a 12-month waiting period before benefits are paid for pre-existing conditions covered by Medicare. .
There is also a 12-month waiting period for obstetric services, major dental services and respiratory equipment. However, it does not apply to inpatient treatment for psychiatric treatment, rehabilitation treatment or palliative care.
I have a 24 month wait for a blood glucose meter and a 36 month wait for hearing aids and laser eye surgery.
no gap policy
“No Gap Policy” means the amount your private health insurance company will pay for a consultation, treatment, or surgery on your behalf, at no out-of-pocket costs.
Medibank has no patient-paying gap for 85.5% of all covered services (as an average percentage across all policy types). This is after considering insurance company benefits, schemes and contracts.
