Gold Health Insurance
Compare quotes for gold hospital cover insurance from some of Australia’s leading health insurers here through Savvy.
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Gold health insurance is the highest level of hospital cover available in Australia today. It offers full coverage for all eligible treatments as a private patient in a hospital setting. However, the coverage offered by health funds can vary widely, as can the price, which is why it’s important to compare policies before deciding which one is right for your individual circumstances.
Here at Savvy, we make it easy to compare policies offered by health funds. Our partner’s panel of providers include some of the most trusted health funds in Australia. By answering a few simple questions about the insurance you’re after, you can have multiple quotes from health funds delivered online side-by-side. Start comparing gold tier health insurance policies here through Savvy today!
What is gold health insurance?
In 2019, the Australian Government introduced legislation to help Aussies compare health insurance policies. These new laws made it compulsory for insurers to cover a set number of services for each tier of health insurance provided.
There are four tiers of cover available in Australia: gold, silver, bronze and basic. Out of these, gold tier covers the highest number of clinical categories (all treatments available through Medicare), but it is also the most expensive level of cover.
Hospital cover can assist with the cost of treatments received while an inpatient in hospital. It typically covers the following for a hospital stay (either in a private hospital or as a private patient in a public hospital):
- Consultations with doctors, specialists and anaesthetists while an in-patient
- Tests administered prior to surgery or post-op in hospital, such as x-rays, CT and MRI scans while an in-patient
- Theatre fees and hospital accommodation fees
- The cost of surgery or other treatments received as an inpatient
- The cost of providing food and other services as a private patient
- The cost of most medications and pharmaceuticals given to a private patient
- Specified allied health services such as psychiatrists, psychologists, nutritionists and pain management specialists who deliver their services to you as an inpatient
- Ambulance cover*
*Not included in all hospital cover. Ambulance cover differs between states and territories, with some providing free cover to residents for transport within their state or nationally. Check with your state ambulance provider or health insurer for details of any cover offered.
Savvy can help you compare gold tier health insurance policies from a number of leading health funds in Australia right here. Just answer a few simple questions about the type of cover you’re looking for and you can have multiple quotes to compare from our partner’s panel of trusted insurers. If you’re still not sure how health insurance works or what tier would be most beneficial for your health needs, you can ask for a call-back and a health insurance specialist will talk you through your options.
What does gold health insurance cover me for, and what are the exclusions?
Gold tier hospital cover is the only private health insurance level which must provide cover for the following (in addition to the other treatment categories which are covered by basic, bronze and silver policies):
- Joint replacements
- Dialysis for chronic kidney failure
- Pregnancy and birth
- Assisted reproductive services
- Weight loss surgery
- Insulin pumps
- Pain management with device
- Sleep studies
In addition, gold cover is usually the only tier of cover which may provide rebates for laser eye surgery, although not all gold policies offer this coverage, as it’s optional. If you take out a gold tier policy, you can rest assured you’ll have cover for the most comprehensive range of services.
However, even gold tier hospital cover won’t cover you for the following:
- Most MRIs, CT scans and x-rays conducted while you’re an outpatient
- GP visits (which can be at least partially covered by Medicare)
- Breast augmentation or reduction
- Other forms of cosmetic surgery and procedures not considered medically necessary
How do I compare different gold health insurance policies?
There are many different aspects of a health insurance policy to compare when you’re looking at gold tier hospital cover policies side-by-side, including:
Inclusions and exclusions
Each hospital cover policy will come with a private health information statement which details exactly what is and isn’t included in the policy. Compare these details carefully when looking to see which one offers the best value.
Cost
We all want the cheapest health insurance policy, but the cheapest isn’t necessarily the best if it offers an unsuitable level of cover. Compare the total coverage offered by each health fund when choosing between two different gold-tier policies.
Excess cost
This is an amount you may be required to pay if you do have to make a claim on your hospital policy. It can range from zero up to $750 maximum for a single gold policy or $1,500 maximum for a family or couples gold policy. The higher your excess, the lower the cost your hospital insurance may be.
Co-payments
Similar to an excess, a co-payment is an amount you may have to contribute towards the cost of your hospital stay. It can range from zero to $100 a night. By comparing co-payment costs, you may be able to determine which policy will cost you more in out-of-pocket expenses.
Special offers
In addition to the compulsory coverage categories, compare what else the gold policy has to offer in terms of added bonuses or special offers. Since health insurance is very competitive in Australia, some funds offer a variety of sweeteners to attract new clients.
You can compare all of these elements of different insurance policies side-by-side through Savvy.
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Helpful health insurance guides
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Disclaimer:
Savvy is partnered with Compare Club Australia Pty Ltd (AFS representative number 001279036) of Alternative Media Pty Ltd (AFS License number 486326) to provide readers with a variety of health insurance policies to compare. Savvy earns a commission from Compare Club each time a customer buys a health insurance policy via our website. We don’t arrange for products to be purchased from these brands directly, as all purchases are conducted via Compare Club.
Savvy’s comparison service is provided by Compare Club. Compare Club compares selected products from a panel of trusted insurers and does not compare all products in the market.
Any advice presented above or on other pages is general in nature and doesn’t consider your personal or business objectives, needs or finances. It’s always important to consider whether advice is suitable for you before purchasing an insurance policy.
For any further information on the variety of insurers compared by Compare Club or how their business works, you can read their Financial Services Guide.
