Extras Cover
An Extras Cover Helps Avoid High Out of Pocket Costs
The Australian health care system is complicated due to the integration of both public and private health care options. The public Medicare system provides coverage for hospital care. It covers 100% of public hospital stays, and a minimum of 75% of doctor’s visits, though there are different price structures for general care and specialist visits. However, Medicare does not offer easily available cover for many ancillary items like Dental, optical, ambulance, physiotherapy, Chiropractic, Natural therapies and much more. To receive a complete health care package you need an Extras cover. The extras cover fills in the gaps that Medicare does not reach.
Paying for ancillary items out of pocket can quickly become cost prohibitive. Dental care can cost thousands of dollars a year, depending on your overall dental health. Vision correction items like contact lenses and glasses can cost hundreds of dollars, if you require physiotherapy, you will be billed on a per visit basis and if you need an ambulance, you may find you are well out of pocket. The combined cost of the services an extra cover policy takes care of is significantly more than the monthly premium cost. Ancillary coverage is not subject to the Medical Surcharge Levy, so carrying it does not save you from the additional tax if you are in an upper income bracket, but the breadth of coverage it offers is important. Many insurance companies offer a combined package that covers both hospital and ancillary care. These are usually the best value to the insured given the government rebates offered for private health cover premiums.
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