Save Money and Get the Best Out-Of-Hospital Care Comparing OVHC Policies

Healthcare is one of those things we often don’t think much about until we need it. And if you’re visiting or working in Australia, understanding your healthcare options is as important as knowing the best local spots to visit. 

That’s where Overseas Visitors Health Cover (OVHC) comes in. It’s like a safety net for your health when you’re far from home. But here’s the thing: not all OVHC policies are created equal, and you don’t want to pay more than you need to for peace of mind.

In this post, we’ll walk through the ins and outs of comparing overseas visitor health insurance so you can find the one that fits just right without emptying your wallet.

What Is OVHC and Why Do You Need It?

First off, OVHC stands for Overseas Visitors Health Cover. It’s a type of insurance that covers medical costs for people visiting or working in Australia who aren’t covered by the country’s public healthcare system, Medicare. Consider it a must-have for your stay, protecting you if you get sick or hurt and need to visit a doctor or hospital.

The Money-Saving Magic of Comparing Policies

Imagine walking into a store to buy a pair of shoes and only looking at the first pair you see. Sounds silly. Well, the same goes for OVHC policies. 

If you don’t shop around, you might end up overpaying for coverage you don’t need or missing out on a policy that’s perfect for you. Comparing policies means you get to see all the options, find the best price, and ensure you’re not paying for extra stuff that’s not necessary for your situation.

Where to Start: Understand Your Needs

Think about what you need before diving into the sea of policy options. Are you in Australia for a quick trip, a longer stay, or to work in a specific job? Do you have any health conditions that require regular care? Are you planning on extreme sports where you might be more at risk of injury? Answering these questions will help you zero in on the type of cover that suits your situation best.

The Hunt for the Best Fit: What to Look For

1. Coverage Essentials

The core of any OVHC policy is what it covers. At a minimum, you’d want it to handle the big-ticket items that can set you back financially if something goes wrong. 

This includes hospital accommodation, theatre fees, and in-hospital treatments. However, some policies go beyond these basics, covering doctor visits outside the hospital, which can be frequent if you’re dealing with an ongoing condition, and ambulance services, which can be surprisingly pricey.

2. Waiting Periods

Some policies have a waiting period before you can claim certain benefits. If you need immediate coverage for specific conditions or treatments, look for a policy with no or shorter waiting periods.

3. Policy Excess

The excess on your policy is the amount you agree to pay out of pocket when you make a claim. It’s an essential factor to consider because it can significantly affect the cost of your premiums and your financial situation when you need to use your insurance. A higher excess usually means you’ll have a lower ongoing premium, but you’ll need to be prepared to pay more upfront in the event of a claim.

4. Extras Cover

Think about whether you need extras like optical, dental, or physio. If you wear glasses, have a tooth prone to complaining, or have a back that occasionally acts up, you might want extra cover. If not, skipping the extras can save you money.

5. Customer Reviews

What do other customers have to say? A cheap policy might look better if the reviews are full of stories about poor service or claims not being paid.

Comparing the Compare-ers

You could visit each insurer’s website and make notes, but that takes time. Thankfully, comparison websites can do the heavy lifting for you. 

They list different policies side by side, showing prices and features so you can easily spot the differences. Just be aware that not all procedures may be recorded, and comparison sites sometimes get a commission for directing you to an insurer, which can affect which policies they show you.

Making Sense of the Fine Print

Insurance documents are not exactly a thrilling read, but they’re essential. That’s where you learn about all the terms and conditions and what’s covered. If you’re not sure about something, ask! Understanding all the nitty-gritty details before deciding on a policy is better.

Time to Decide: Balancing Cost and Coverage

Now comes the balancing act. A lower-cost policy might do the trick if you’re young, healthy, and just need the basics. But if you have specific health needs, paying more for a policy that covers those could save you money in the long run. It’s all about finding that sweet spot between cost and coverage.

Don’t Forget the Extras: Discounts and Deals

Insurance companies often have deals or discounts. You might get a discount for paying upfront for a year or for applying online. Sometimes, if you hold other types of insurance with the same company, they’ll give you a deal on OVHC. It never hurts to ask!

Checking Up on Your Choice

Once you’ve picked a policy, the work’s not entirely done. Health changes, and so might your insurance needs. Every year, look at your policy and see if it’s still right for you. You may need more coverage or realize you can cut back and save money.

To Wrap It Up

Finding the right OVHC policy isn’t just about following the crowd or picking the cheapest option. It’s about shopping smart, understanding your needs, and making an informed choice. By comparing policies, you give yourself the power to find coverage that fits like a glove without breaking the bank.

Remember, a little bit of homework now can save you money and stress later. So take the time, do the comparisons, and walk away with the best health cover for your Australian adventure. Your health and your wallet will thank you.