Benefits of Health Insurance for you


It is rightly said that health is wealth. In today’s fast and stressful life, every individual should have a health insurance plan. Medical and surgical expenses associated with lifestyle diseases have increased manifold. In order to safeguard your finances against high medical bills, it is wise to invest in health insurance plans. 

Health insurance is a contract in which an insurance company agrees to pay compensation for medical expenses in case the insured falls ill or meets with an accident. Insurance companies usually have tie ups with leading hospitals so as to provide cashless treatment to the insured person. 

You should get health insurance for you and your family to receive the best medical care without any strain on your finances. A good health insurance policy usually covers expenses made towards doctor’s consultation fees, costs towards medical tests, ambulance charges, and hospitalization costs. 

Some providers offer critical illness insurance either as a standalone plan or as a rider. This kind of policy covers life-threatening diseases such as kidney failure, stroke, among others. Health care plans provide tax benefits. The premiums that you pay are eligible for tax deductions. 

How does Health Insurance work?

Australia has a free health insurance cover called Medicare for its citizens. But most people prefer buying a private health plan. The main difference between Medicare and private health insurance plan is that Medicare pays for the insured patient to be treated in a public hospital whereas private insurance allows to be treated in private hospital of your choice. 

You can even choose your specialist doctor. Private health insurance also includes extra cover for dental, optical, chiropractic, physiotherapy and many more depending on your chosen cover.

Compare Health Insurance policy before buying

Before buying a policy do your homework. Do not buy any health insurance policy without understanding the details of the same. If it is important for you know what your policy covers, then it is also important to know what it does not cover. Do not hesitate to ask your policy related questions to your insurance provider. Or you can compare health insurance plans on websites like iSelect. 

Experts at iSelect research policy rates and covers for different profiles such as young people, singles, couples, older people or families. Once you make an account on iSelect and provide your requirements and details, their trained experts compare health insurance plans and providers on price and value, coverage, benefits and terms and conditions. The website clearly states about different tiered health insurance system. Each tier has different categories of medical treatments and services. The basic plan covers minimum treatments whereas the gold plan covers maximum diseases. An example is that the Gold and Silver tier plans cover dental surgery where as Basic and Bronze plan don’t.

People having private health insurance have peace that they will have access to best available medical treatments if they are required. Compare the health plans on iSelect to see if you find a cheaper plan and make the most suitable choice.