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Private health insurance in Australia is split into two main types of cover: hospital cover and extras cover. Hospital cover typically includes cover for costs relating to hospital admission and certain eligible treatments. Extras cover, on the other hand, can cover non-hospital expenses like dental, optical, and physiotherapy services. The level of coverage private health insurance policies in Australia offer vary depending on the level of cover you choose; hospital cover is split into four tiers (basic, bronze, silver and gold), while the levels for extras cover are less clearly defined but still range from cheaper policies to more expensive ones with greater overall coverage.

Overseas Visitors Health Cover (OVHC) is a type of health insurance policy designed for international visitors to Australia. OVHC is a requirement for most temporary visa holders in Australia, including those on working holiday visas, student visas, and skilled worker visas. It can provide cover for medical expenses, hospital treatments and ambulance services while you are in Australia. However, policies vary in terms of the level of cover and benefits provided, so it's important to compare policies to find the one that best meets your needs and budget.

Private health insurance in Australia can cover pre-existing conditions, but there are waiting periods that apply before you can claim for treatment related to your condition. If you have a pre-existing condition, you may need to serve a waiting period of up to 12 months before you can claim for hospital treatment related to that condition. It's important to read the fine print and understand the terms and conditions of your policy related to pre-existing conditions before you buy.

Yes – because private health insurance in Australia is community-rated, policies are equally available and priced the same regardless of your age, gender or health status. As such, there are plenty of options on the market for seniors when it comes to private health insurance. Some insurers may offer products designed to cater more closely to the needs of seniors, such as those which don't include coverage for pregnancy and birth.

It's important to note that waiting periods for extras cover aren't regulated in the same way as hospital cover. These can vary significantly between providers and policies, so it's important to check the waiting periods for each service covered under your policy. Some providers may offer a waiver or reduction of waiting periods for extras cover, particularly for new policyholders or those transferring from another insurer.

The waiting periods for hospital cover are as follows:

• 12 months for pre-existing conditions and pregnancy and birth
• Two months for psychiatric treatments, rehabilitation or palliative care (including for pre-existing conditions)
• Two months in all other situations

Switching health insurance providers is a straightforward process in Australia. In many cases, most of this process can be handled for you by your new insurer. During this process, you'll need to notify your new insurer about who your previous insurer was, which enables them to reach out and obtain a transfer certificate (which comes with information about your claims history and any current waiting periods). Once this is done, your old policy can be cancelled and you can remove any direct debit arrangements you may have with your previous provider.

The Lifetime Health Cover (LHC) loading is a penalty which applies to people who take out private health insurance for the first time after the age of 30. The loading increases by 2% for each year a person is aged over 30 when they take out private health insurance, up to a maximum of 70%. This is added to the base premium for hospital cover and is payable for ten years. It's designed to encourage people to take out private health insurance earlier in life and maintain their coverage.