Gold Health Insurance

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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

Types of health insurance

Hospital cover

Hospital cover helps pay for in-hospital treatment as a private patient in either a public or private hospital. There are four different types of hospital cover, ranging from basic to gold.

Extras cover

Extras cover helps pay for out-of-hospital treatments that Medicare doesn’t cover. It’s designed to help with preventative and remedial treatments that support overall health.

OVHC

Visitors who are in Australia on a temporary basis for travel, work or study may be able to take out Overseas Visitors Health Cover (OVHC). This is a requirement on many visas.

OSHC

Overseas Student Health Cover (OSHC) is a mandatory health insurance policy for most international students studying in Australia. It helps cover the cost of essential medical services.

Ambulance cover

Ambulance cover is generally available either packaged into your private health insurance or on its own. It can cover all eligible ambulance travel in Australia (subject to T&Cs).