Health Insurance Comparison in Australia

Health Insurance Comparison in Australia

Do the same benefits mean the same out-of-pocket cost?

Australians are encouraged to compare private health insurance before switching. Most comparison tools show premiums, excess levels and treatment categories. But they generally do not show the likely out-of-pocket cost when treatment occurs.

Private health insurers already report benefits paid and patient gap payments through national statistics collected by the Australian Prudential Regulation Authority.

A simple performance score could help consumers compare insurers more clearly:
• percentage of treatments with no patient gap
• median out-of-pocket cost for the patient
• higher-range out-of-pocket cost for the patient

The real comparison consumers need answered is simple.
What will my out-of-pocket costs be when treatment is finished?