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If you’re tired of putting up with constant knee pain, you may be considering surgery to fix your injury permanently. Knee replacement surgery is a procedure which can return quality of life to someone suffering from ongoing discomfort. However, the best surgeries in this area are expensive and public health waiting lists can be very long. As such, you can opt to use private health insurance to fund your knee replacement.
You can compare private health insurance policies that include cover for joint replacement through Savvy. You can get instant quotes for health insurance to compare from a panel including some of Australia’s leading insurers, so get started with us today.
What type of health insurance offers the best cover for knee replacement surgery?
Medicare can cover all of the costs of a knee or joint replacement. However, a report from the Australian Institute of Health and Welfare indicated that in 2021/2022, almost 30% of public patients waited more than 365 days for their knee replacement surgery, with the average wait time being over 200 days. Because of these long waiting times, many people turn to private health insurance to assist with the cost of getting their knee replacement surgery carried out in a private hospital.
Gold hospital cover is the only tier of private health insurance which must provide cover for joint replacements under Australian health insurance legislation. However, some funds may offer this type of cover with silver plus policies too. For this reason, it’s well worth comparing health cover policies through Savvy to help find an affordable offer which may provide you with the coverage you need for your joint replacement surgery.
How do I compare the best health insurance policies with knee replacement?
These are some of the aspects to compare when looking at different health insurance policies which provide cover for knee replacement, including:
- Cost – comparing a range of offers will help you determine which is the most affordable while affording suitable cover for knee replacement
- Excess and co-payments – how much will you have to pay as an excess if you do make a claim on your policy?
- Inclusions and exclusions – check the documentation that comes with your policy so you know exactly what is and isn’t included
- Waiting periods – make sure you’re aware of the waiting periods that apply before buying a policy
- Special offers – some funds offer ambulance cover as a standard addition with gold hospital cover policies, but other special offers are sometimes available too, so it’s worth checking these out when comparing policies.
Types of health insurance
This can help you pay for medical treatment if you need to be admitted to hospital. It can help cover the cost of your admission or accommodation and the fees charged by doctors, surgeons and anaesthetists. It can also cover other costs associated with a stay in a private hospital.
This helps cover the costs of health care treatments outside a hospital setting which aren’t covered by Medicare. This can include major and minor dental treatment, orthodontics, hearing aids, physiotherapy, glasses, contact lenses and podiatry (in most cases with annual limits).
This is a standard health insurance policy designed for a single person, rather than being tailored to cater to the needs of a couple or family. It may include hospital cover plus extras, or either of these types of insurance on their own, depending on what you're after for your health cover.
A family health insurance policy is designed for a family unit including dependent children who may reach up to 31 years of age with some insurers. It offers private health insurance suitable for the whole family and may include shared limits for all members included in your policy.
A health insurance policy aimed at seniors is designed to appeal to people who are in the second half of their life. These are often specific Silver Plus policies that offer the same cover as other health insurance policies, with the exception that pregnancy and childbirth cover may not be included.
Visitors who are in Australia on a temporary basis for travel, work or study may be able to take out Overseas Visitors Health Cover (OVHC). Many visas issued in Australia come with a requirement to take out this type of insurance, which covers visitors who may not be covered by Medicare.
Ambulance cover is generally available either packaged into your private health insurance or on its own as a separate policy or subscription. By having this protection, you could be covered for all eligible ambulance travel in Australia (subject to your insurer's terms and conditions).
The cheapest and most barebones form of private hospital insurance, this can include cover for rehab, in-hospital psychiatric services and palliative care. Having this policy will enable you to avoid paying the Medicare Levy Surcharge (MLS) and Lifetime Health Cover (LHC) loading.
Bronze hospital cover is a step up from basic insurance, including 18 further clinical categories such as ear, nose and throat, bone, joint and muscle, digestive system, joint reconstructions, gynaecology and chemotherapy, radiotherapy and immunotherapy for cancer.
Silver hospital cover is the second-most expensive type of policy and offers the second-most clinical categories. On top of what's offered by basic and bronze cover, it also includes heart and vascular system, lung and chest, blood, hearing device implantation and dental surgery.
The highest level of private hospital insurance available in Australia, gold policies can offer cover for pregnancy and birth, weight loss surgery, assisted reproductive services and insulin pumps on top of all the categories provided by silver, bronze and basic hospital insurance.
Why compare health insurance through Savvy?
Frequently asked questions about health insurance for knee replacements
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