When it comes to getting the most value from your private health insurance, understanding what’s covered by your policy (and what you’re paying for) is important.
There are many common misconceptions that can make understanding private health insurance confusing.
We don’t want that. At RT Health, we’re here to make it simple for you.
Here we’ve debunked six common comments we often hear when chatting about private health cover.
We don’t need private health insurance, we’ve got Medicare
While we live in a lucky country and the Australian Government covers the cost of most medical services through the Medicare system, there can be long waiting times to get elective surgery (especially since COVID).
And while the public system is great, you won’t ever be covered for accommodation or operating theatre costs in a private hospital.
Private health insurance provides access to more choice - choosing your treating doctor or surgeon and access to a private or shared room (depending on availability) in a private hospital.
Having hospital cover with RT Health gives you peace of mind, even if you’re not expecting to end up in hospital.
We’re young and healthy. We don’t need private health insurance
When you’re young, fit and active, you may not think you need health insurance at all. But injuries and accidents happen.
Private health cover is about protecting your health when life’s challenges come along.
If you get sick or need treatment, you don’t have time to hang around waiting.
Hospital cover helps to avoid those public hospital waiting lists (as long as you’ve got a suitable level of cover), so you’ll be able to access care when you need it and have more control over who treats you.
Plus, Extras Cover helps you stay well and healthy. You can use your Extras benefits to make sure your eyes and teeth stay their best. There are also other services like physio, chiro and remedial massage to make your cover worth it.
Private health insurance is expensive
Nobody has a crystal ball to see what future health conditions or injuries might affect them … consider the cost of not having private health insurance and the big bill.
Hospital cover provides peace of mind, knowing you’ll be covered if the unexpected happens. And Extras cover empowers you to take control of your own health and wellbeing.
Can you really put a price on that?
And can you afford to be without it?
Also, if you don’t have private hospital cover, singles who earn over $93,000 a year and couples and families who earn over $186,000 a year (income thresholds as of 1 July 2023) may be required to pay the Medicare Levy Surcharge.
A cheap policy is the best policy
Cheap doesn’t always mean best when it comes to your cover. It’s important to consider your health needs to make the best decision.
Hospital covers are classified as Gold, Silver, Bronze or Basic. You may find that the services or treatments you need are included in Basic or Bronze levels of cover, which could have significantly lower premiums than the more comprehensive Gold and Silver products. It’s a big decision, but you should consider if you want peace of mind knowing you’ll be covered for a broader range of medical treatments.
It also pays to think about the level of Extras cover you need. Think about the services that you’d use the most (things like dental check-ups, physiotherapy, optical) and the services you don’t think you’ll need. This will make sure your Extras cover provides you with good value and you won’t waste money on services you don’t use.
Plus, you can combine our policies to include both Hospital and Extras cover.
Just remember, we’re here to talk you through your options and what our cover can provide for you.
Medicare covers emergency ambulance costs
Many people don’t realise that Medicare doesn't cover you for ambulance costs. And without the right private health cover, you may face a hefty bill.
Ambulance costs are billed differently across Australian states and territories.
In some states, the government covers the cost of emergency ambulances, while in others you’ll need private cover to avoid thousands of dollars out-of-pocket. It depends where you live.
Ambulance cover is included with each of RT Health’s Hospital covers (except for Queenslanders who are covered under a state-based scheme and Tasmanians who are covered by their state government in all states except Queensland and South Australia).
I don’t need to review or update my cover
As your life changes, so do your health needs.
Whether you're single, married, have children, or enjoying your retirement, it’s important to take the time to review your cover so it keeps up with your changing lifestyle.
You should review your health cover many times throughout your life to keep yourself and those you love protected.
We're here to help
Feeling unsure? Our expert team is here to help you every step of the way.
We’d love to hear from you whenever you have a query, or if you want to review your existing cover to make sure it’s still the right one for you.
Give us a call on 1800 886 123 or reach out via email to help@rthealthfund.com.au.
RT Health is a division of The Hospitals Contribution Fund of Australia Limited (ACN 000 026 746). References to RT Health members mean holders of a RT Health branded PHI policy issued by the HCF fund.