What is Silver Health Cover and how much does it cost?

Silver Hospital Cover is the second highest level of health insurance and covers a wide range of treatments that Bronze and Basic do not cover.

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Silver hospitalization coverage is relatively comprehensive and can give you peace of mind and convenience if you need hospital care.

But with a myriad of fonts available, it can be difficult to figure out which font might be best for you and your situation.

Australia has a standardized four-tier system for hospital coverage, which makes this task easier.

In addition to Silver cover, you can purchase Gold, Bronze and Basic cover and these offer different levels of cover based on a range of standardized clinical categories.

They can be ‘restricted’ (R), where insurers only pay a limited amount for your hospital costs, or ‘unrestricted’, meaning they are fully covered by your health fund.

What is Silver Health Insurance?

Silver hospital coverage is below Gold level and above Bronze and Basic and must cover a total of 29 of the clinical categories – eight additional medical categories to Bronze and nine less than Gold, with restricted coverage for the same categories as Bronze and Basic. blanket.

However, health insurers may eventually add other categories to their Silver policies causing them to vary, so keep an eye out for a good deal that’s right for you.

What does Silver health insurance cover?

Silver hospital coverage provides limited coverage for rehabilitation, psychiatric hospital services and palliative care, and unlimited coverage for brain and nervous system categories; eye (no cataract); ear, nose and throat; tonsils, adenoids and carnations; bone, joint and muscle; joint reconstructions; kidney and bladder; Male reproductive system; digestive system; hernia and appendix; gastrointestinal endoscopy; gynecology; miscarriage and termination of pregnancy; chemotherapy, radiotherapy and immunotherapy for cancer; pain management; the skin; medically necessary breast surgery; diabetes management (except insulin pumps); heart and vascular system; lung and chest; some blood; back, neck and spine; medically necessary plastic and reconstructive surgery; dental surgery; podiatric surgery; and the implantation of hearing aids.

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What does Silver Health Insurance not cover?

Silver level hospital insurance may not cover cataracts; joint prostheses; dialysis for chronic renal failure; pregnancy and birth; assisted reproduction services; bariatric surgery; insulin pumps; pain management with device; or sleep studies.

But that’s not to say Silver cover policies will never include these categories – it’s optional for health insurers to include any of the above categories to attract new customers to their products, and that’s as well as Silver fonts may differ.

Health insurers also offer policies with other additional treatments in the Silver level, called Silver plus [+].

What about out-of-hospital treatment?

Gold, Silver, Bronze and Basic levels only apply to Hospital policies, however, some insurers offer additional policies, which can be bundled together to complete Silver Hospital cover (Silver Hospital and Extras).

These may also include certain out-of-hospital services not covered by a hospital policy, such as ambulance, home nursing, eyeglasses and contact lenses.

Who is best suited for Silver health insurance?

Silver Health Insurance is an ideal level of hospital coverage for people anticipating a future need for dental or podiatric surgery or insulin pumps, for example, or for those looking for greater peace of mind and the convenience of care.

Although this may not be your option of choice if you are planning to expand your family, some health insurers may include pregnancy and childbirth in their Silver coverage. It is therefore important that you do your research and consider all the options available to you.

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How much does Silver insurance cost?

According to the Private Health Insurance Ombudsman’s Health Insurance Policy Comparison, Silver hospital cover for a single adult in NSW can range from around $188 to $258 per month before application. of any discount.

The cost of Silver coverage varies widely between policies, states and territories, and health insurers, so you’ll need to do your homework to determine what coverage is best and the best value for you.

Silver cover is generally more expensive than bronze cover but less expensive than gold cover.

To determine the difference in cost, it helps to compare policies and decide which one will best suit your health needs and budget.

Can I purchase Silver Hospitalization Insurance if I have a pre-existing condition?

Yes you can. Australian hospital policies should cover pre-existing conditions – but you will still have to wait for the waiting period set out on the policy.

Most have a 12 month waiting period in place before they can claim a pre-existing condition.

What should I know about excesses?

The deductible is an agreed payment that you must pay to your health insurer when you report a claim.

This is an amount you must pay as a contribution to the reimbursable costs of a hospital stay and can sometimes be applied to hospitalization insurance and help reduce the cost of your premium.

RELATED: What Is Gold Hospital Cover and How Much Does It Cost?

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