Rating: 5/5
Introduction
Established in 1927, GMHBA Insurance is one of Australia's fastest growing non-profit health funds, providing private Health Insurance to thousands of individuals and families across Australia. They offer a number of covers: Hospital, Extras, and Hospital and Extras Combined. Of course, the first thing I wanted to know was: why should I buy private Health Insurance? There was a link on the site to a page answering that exact question.
- Greater choice of who treats you
- Peace of mind knowing that you are covered when you need it the most
- More choice of where you're treated
- Speedier treatment
- Having cover makes out of pocket costs much more manageable
For reviews of other insurance companies similar to this one, you should also check out 1st for Women Insurance Reviews, Aussie Insurance Reviews and Australian Unity Insurance Reviews.
Features and Coverage
Financial benefits include:
- Tax savings. If your taxable income exceeds $77,000 per year as a single or $154,000 for families, couples and single parents, you will pay an additional 1% of your income if you don't hold eligible hospital cover.
- You actually pay less if you take out hospital cover before the first of July after your 31st birthday
Their Extras provide services Medicare doesn't:
- Dental
- Vision cover for glasses and contacts
- Remedial massage if you're active or into sports
- You can claim on the spot
The site features a 7 page downloadable .pdf file of information you should know before you join or transfer your coverage to GMHBA. There's an option to join online, or request a call back to speak with a representative before purchasing.
That was all great, but I still needed to know what exactly the different covers are and what they provide. Of course, the website was full of information to answer those questions as well.
Briefly, there are two types of costs associated with private treatment in a hospital:
- Hospital costs are for charges like your bed, your meals and theatre.
- Medical costs are charges from specialists like surgeons, radiologists and anaesthetists.
