Health Insurance 101
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What are the basics of health insurance in Australia?
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Please remember that all of the information in this podcast episode is limited to general information only. That means the information is not specific to you, your needs, goals or objectives, so you should seek the advice of a licensed and trusted financial professional before acting on the information. And before you acquire or apply for a financial product, please read the PDS or Product Disclosure Statement which should be available on the issuer's website. Lastly, please keep in mind that past performance is not indicative of future performance.
Kate, the great, welcome to this episode of the Australian Finance Podcast.
It's good to be back, Owen, and talking about another thrilling topic today.
Yes, it's always a great day when you get to talk about insurance and specifically health insurance. And while we might jest a little bit, it actually is a really important topic for a lot of people and we really haven't covered it.
No, no, I think apart from that one topic, super speedy insurance episode we did back at the very beginning of the podcast. This is the only other time we've really mentioned it.
Yeah. And naturally, because it's about insurance, this one's going to go viral. People are going to love it.
Why is it important to compare health insurance premiums?
No, but seriously, we're going to cover all of the, I guess the ins and outs, the need to know facts about health insurance. One thing we should say before we get into this is when it comes to insurance and particularly anything that's to do with your health, there's normally quite a few asterisks. The government's tried to tidy this sector up a bit, but don't just go out off after this episode and just get the, you know, any insurance, take your time to consider your own personal circumstances and how, you know, existing medical conditions or, you know, how much you need to spend on insurance. Consider all those different things and make sure you read the PDS. Okay. Now that we've got through that fun disclaimer, Kate, why are we talking about health insurance?
Well, I didn't actually know this until I started researching for the episode, but a lot of health funds are actually increasing their premiums on the 1st of October because they delayed it for a while because of COVID. So I think it's a good time to just go and if you do have private health insurance, go and compare it. So hopefully this episode comes just in time to give you that reminder that you might be able to get a better deal. But also, I haven't thought about it too much as a young person because often you get to stay on your parents' plan until sort of the age of 23, 25, depending on what plan and if you're a student.
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Chapters
8 chapters
1
What are the basics of health insurance in Australia?
0:00–2:43
2
Why is it important to compare health insurance premiums?
2:43–5:26
3
What types of health insurance coverage are available?
5:26–8:50
4
How does the Medicare levy surcharge affect health insurance decisions?
8:50–11:42
5
What factors influence the cost of health insurance premiums?
11:42–14:33
6
How can technology impact health insurance pricing?
14:33–17:07
7
What should young people consider when choosing health insurance?
17:07–19:54
8
How can you effectively manage and review your health insurance?
19:54–41:41
Speakers
3 identifiedMore from Australian Finance Podcast
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