OSHC (Overseas Student Health Cover) is essential for any international student looking to get their education in Australia. And it’s important to find the best cover for your needs.
That’s why we’re comparing the different providers available, looking at what they have to offer and which ones are the best value for money. We’ll also cover key factors to consider, including waiting periods and customer support, so you can make the most informed decision.
Key Factors to Consider When Comparing OSHC Providers
Choosing the best health insurance is an important decision that can be overwhelming. But it doesn’t have to be. We want to simplify the process to make the decision as easy as possible. So, here are some of the key things you should consider before settling on the best OSHC provider for you.
1. Coverage Options
First, compare coverage options. You want to find a policy with medical services that you’ll benefit from the most.
OSHC insurance should cover visits to your general practitioner as well as emergency ambulance requests and on-the-spot treatment. Plus, you should be covered for medical services provided by the hospital, including accommodating.
Make sure you also check if inpatient, outpatient and emergency coverage is included.
- Inpatient cover includes medicines and surgeries you receive once you’ve been admitted to hospital, whether overnight or for a same-day appointment. As this usually requires more treatment services, it incurs more costs.
- Outpatient cover is for medicines and treatments that may be required without a hospital stay. With less equipment and monitoring required, it incurs fewer costs.
- Emergency cover protects you when you need urgent care. Cost can vary.
You should also consider any exclusions that may apply with the coverage you choose. For example, dental and optical treatments may be excluded, with some providers offering them as extras.
2. Waiting Periods
Before your policy begins, there may be a waiting period. This means you won’t be able to make a claim until the waiting period is over. It can vary per provider and may differ depending on what you want to claim for.
For example, some providers such as CBHS and nib, have two month waiting periods for pre-existing psychiatry. Whereas Allianz Care and Medibank don’t have a waiting period for pre-existing psychiatry.
As a general rule, pre-existing conditions have a 12 month waiting period for all providers.
3. Cost and Value for Money
Of course, one of the main things you need to consider is your budget. You want coverage you can afford and that offers the best value for money. So, let’s break down the cost differences between some of the best OSHC providers in Australia.
Provider: CBHS
Yearly Cost (AUD): $1,200.85
What’s included?
Hospital accommodation, A&E services, outpatient and postoperative, doctor services, GP consultation, ambulance services and more.
Prescriptions and medicines come with a $50 limit, $30 co-payment. $500 patient limit pa, $1,000 family limit pa.
Limited fees may apply for refunds.
Provider: ahm
Yearly Cost (AUD): $1,214.00
What’s included?
- Hospital accommodation, A&E services, outpatient and postoperative, doctor services, GP consultation, ambulance services and more.
- Prescriptions and medicines come with a $50 limit, $31.60 co-payment. $500 patient limit pa, $1,000 family limit pa
- Limited fees may apply for refunds.
Provider: Bupa
Yearly Cost (AUD): $1,405.00
What’s included?
- Hospital accommodation (for public and agreement only), A&E services, outpatient and postoperative, doctor services, GP consultation, ambulance services and more.
- Prescriptions and medicines come with a $50 limit, $30 co-payment. $500 patient limit pa, $1,000 family limit pa.
- No fees for refunds.
Provider: Medibank
Yearly Cost (AUD): $1,319.00
What’s included?
- Hospital accommodation, A&E services, outpatient and postoperative, doctor services, GP consultation, ambulance services and more.
- Prescriptions and medicines come with a $70 limit, $30 co-payment. $500 patient limit pa, $1,000 family limit pa.
- Limited fees may apply for refunds.
Provider: Allianz Care
Yearly Cost (AUD): $1,324.00
What’s included?
- Hospital accommodation (for public and agreement only), A&E services, outpatient and postoperative, doctor services, GP consultation, ambulance services and more.
- Prescriptions and medicines come with a $50 limit, $30 co-payment. $500 patient limit pa, $1,000 family limit pa.
- No fees for refunds.
4. Network of Healthcare Providers
The network of healthcare providers is key to any insurance plan. It tells you which hospitals and facilities can be accessed under your policy. Every provider has its own network and all vary in size, which is why it’s important to consider this.
Here’s how the different providers compare:
- Largest networks: Bupa and Medibank
- Mid-sized networks: CBHS, ahm and Allianz
Allianz has a particular focus on student healthcare, specifically partnering with universities and clinics near student accommodation.
5. Customer Service and Support
Finally, when choosing your preferred OSHC provider, you should take customer service into account. After all, making a claim should be as smooth as possible. So, which providers offer the best support?
Here’s a snapshot of their customer service reviews:
Provider and Star Rating Out of 5
- CBHS 3
- ahm 4.1
- Bupa 3
- Medibank 3.2
- Allianz Care4
Ratings may differ depending on the review site you choose to look at. The most important thing to remember is that you want a provider that offers assistance when you need it. So shop around based on their level of support as well as everything else.
How to Compare OSHC Providers Effectively
The most effective way to compare the best OSHC providers in Australia is to be careful in your considerations. It’s an important decision so it requires effort. You don’t want to pay too much or miss any of the essentials.
To make things easier, here’s a quick step-by-step guide you can follow:
- Identify your coverage needs: Determine the type of coverage you need, including doctor visits, specialist care and dental.
- Compare costs: Give yourself a budget and try to stick to it then look for the OSHC providers that fit into your finances.
- Check details: Look at provider networks, exclusions, waiting periods and make sure you read the fine print!
- Make notes and ask questions: Keep track of what each provider offers and if you’re unsure on anything, give them a call to clear things up.
- Compare with OSHC Australia: Finally, if you need a snapshot of all providers available and what they have to offer, try OSHC Australia. We can help with making your final decision.
Now that you know a bit more about what to look for when comparing OSHC providers, you’ll be more equipped to make that decision. And if you’re looking for the best comparison tool to use, give OSHC Australia a try.
