OSHC STUDENTS

banner image
21 | 06 | 22
129 views
21
06 | 22
707
129

What’s an excess? Is it different from a co-payment? 

OSHCStudents – What’s an excess? Is it different from a co-payment? Why are there excesses and co-payments? Here are the details 

 

 

Excesses

If you have private health insurance, an excess is a one-off payment you make if you need to go to hospital. You pay it before you go to hospital, and before your insurer covers the rest of the costs your policy includes.

This should be on the paperwork for your policy, and should have been agreed on before you took out your policy.

 

Things to check with your insurer:

  • How many times per year is it paid per person?
  • Most excesses apply once per person per year. They may also then limit how many times excesses are paid for your whole policy per year. This could be calendar year, or depending when you join.
  • If I transfer health insurers, do I need to pay it again?
  • Say you paid your excess after going to hospital in January, then changed insurers in March. If you need to go to hospital again that year, even though you’ve paid your excess with your old insurer, you may need to pay it again with your new insurer. If you know you need further hospital treatment, you could save money by considering this before you switch your cover.
  • What happens if I change my cover to one with a higher excess?

 

You will usually need to pay the difference between your lower excess and your higher excess, the next time you are admitted to hospital. The table below gives an example of how this might work:

Cover type On cover with $250 Excess Move to cover with $500 Excess in June
Hospital Admission Date In April In August of the same year
What you would pay $250 Excess You’d pay a $250 Excess (the difference between the excess on your old cover and your new cover).

 

Co-payments

If you have private health insurance, a co-payment is a set amount you pay each day that you are in hospital, usually up to a maximum number of days. It usually applies every time you are admitted to hospital.

Things to check:

  • How many times per year is it paid per person?
  • If I transfer health insurers, do I need to pay it again?
  • What happens if I change my cover to one with a higher excess?
  • How many days I have to pay it?

Usually there will be a maximum number of days you need to pay a co-payment.

 

Why are there excesses and co-payments?

These work in a similar way to an excess on car insurance.

When you select your private hospital cover, you can choose whether you’d like to have an excess or co-payment on your policy. If you do have one, you’ll usually pay a lower price for your cover (often called a ‘premium’). That way, you only pay this amount should you need to go to hospital.

 

If you are visitors who want buy OVHC or switch OVHC, you can check out the prices and purchase insurance please contact our Team for further information and assistance at info@oshstudents.com

 

OSHCStudents (Source: Bupa)

Leave a comment

Your email address will not be published.

*

News related

Visa subclass 485 (Temporary Graduate) and OSHC 13/06/2022 | 136 Views

Visa subclass 485 (Temporary Graduate) and OSHC

If you hold a valid Student visa at the time you apply for the Subclass 485 visa, you will already be covered under an Overseas Student Health Cover policy as a condition of your Student visa requirement. Your existing OSHC is considered acceptable health insurance at the time you lodge your 485 visa application and you should submit evidence of this with your visa application. 
Baek Ah Yeon

I trust Allianz Care since it is one of the largest insurance companies in Australia, with the medical centres where I only have to pay for what is left from insurance support. (no need to claim later). Besides, those centres are located at the centre of the city, close to schools. Very convenient, right? Credits to Allianz Care for providing reliable medical centres for health check and treatments.

Baek Ah Yeon | University of Queensland

Ariella Pei

I’ve been living with homestay family for 2 years. I’m now 19, I can move out but I don’t want to leave my host, who has become my family. It feels like I’ve met my second family. Thanks OSHCstudents for sending me to this homestay!

Ariella Pei | University of Canberra

Chatchawat Paton

I realised how important insurance was when I started living in Australia. There I switched to using Allianz Care instead of the previous service. Allianz Care is extraordinarily good in its consulting service and customer care. I’ve learned a lot about Australian health care, also I was consulted with mental issues and how to live a healthy lifestyle. I am very happy now.

Chatchawat Paton | Torrent University

Phuong Anh

Having lived in Australia for 2 years, I’ve been reliant on AHM OSHC to pay for my health care, which supports me for other expenses. Last year, I sent my claim requests for several times and always received the claims within two days. Everything is easy, fast and simple.

Phuong Anh | Victoria University

Xiaoyu Cheng

Thanks to Allianz Care, every time I claimed my medical receipts it processed much more quickly and easily than I expected. I was initially a bit concerned since Allianz Care is more expensive than other insurance companies, but now I can ensure that it is totally worth the money.

Xiaoyu Cheng | Monash University

Emma

My homestay was very comfortable and convenient. My host was really kind. He showed me where to shop, which buses to catch, where the nearest train station is, to get off at which station so that I wouldn’t be taken to another suburb. Travelling was easy since the place was close to public transports. It only took 30 minutes to get to my college, actually I could go anywhere easily!

Emma | Macquarie University

Jing Zhang

When told that I was going to live with an Italian family, I was pretty nervous and doubted whether or not they could speak English well as the local people? Yet it was no longer a problem when I saw them. They knew the problems of people who first came to Australia and always tried to help me. I learned so many things about both Australian and Italian culture and enjoyed tasty Italian meals every time. Awesome!

Jing Zhang | Griffith University

OSHCstudents Services

Partners

  • PTE Platform
  • Inus
  • Flywire
  • Imagine Education Australia
  • Shorelight

Providers

  • King Education
  • North Sydney College English
  • NIB
  • QBE
  • HCC
  • Global Experience
  • Bupa
  • Vodafone
  • OVHC Iman
  • Allianz
  • Medibank
  • AHM