OSHCstudents – What is a waiting period? Why are there waiting periods? We will help you answer these questions.
What is a waiting period?
A waiting period is a period of time that you may need to have your private health insurance before you can use it for various treatments or services. If you upgrade your cover, you may also need to wait a period of time before being able to access any extra benefits you got from upgrading.
If you’re not sure if you’ve served your waiting period, it’s always best to check with your insurer before the treatment or service to make sure you’re covered.
The following standard waiting periods apply for hospital cover:
- Palliative care, psychiatric and rehabilitation services – two months
- Pre-existing conditions, ailments or illnesses – 12 months
- Pregnancy (including childbirth) – 12 months
- All other treatments included in your cover – two months
- Treatment resulting from an Accident sustained after joining– no waiting period
If you need psychiatric services, in certain circumstances, you might be able to upgrade your cover without a waiting period, once in your whole lifetime.
Why are there waiting periods?
Waiting periods are in place to protect both customers and health insurers. By having a ‘waiting period’, people are not able to make a large claim shortly after joining, and then drop insurance straight after.
It makes it fairer because the price of each type of cover changes based on the claims for all customers in a state on a particular type of cover.
You are international students or foreigners arrive to Australia, or Australian citizens traveling abroad who are looking for OSHC, OVHC, travel insurance, please contact OSHCstudents Team at email: firstname.lastname@example.org and our partners for further information and assistance.
OSHCstudents (Source: Bupa)