Comparing OSHCs and OVHCs: Finding the Best Deals
Many visa types in Australia demand health insurance as an important requirement. So, it is clear that you have to have adequate health cover for the duration of your stay in the country.
Now, the next important thing you have to ensure is to know what a health cover provides you and what not, no matter if you are applying for a visa for the first time or extending it for a longer stay. You must know what you are paying for.
In Australia, there are two types of private health covers - Overseas Student Health Cover (OSHC) for international students and Overseas Visitor Health Cover (OVHC) for international visitors, workers, or travelers.
Although the health coverage provided by both the covers are mostly similar, you should still know what these two covers have in store for you. Also, you should be aware of the type of health cover to buy according to your visa type.
The following blog will guide you to choose the right coverage for you and your family in Australia. Continue reading!
OSHC: What is it?
Overseas Student Health Cover is a key requirement of student visa (subclass 500). However, if you are Swedes, Norwegians, or Belgians, then there is an exception for having health insurance. Other than that, no matter where you are from the world, you will have to buy the right OSHC for you. You can visit the official website of the Department of Home and Affairs to understand your policy better.
With OSHC, you get the coverage for –
• Access to public and private hospitals
• Emergency medical ambulance transports
• Doctor and specialist visits
• Laboratory fees, and
• Prescription medicines for a limited time
Hundreds of health insurance providers are out there offering OSHC plans with different levels of coverage. You have to find out the best one out of all, especially the one that suits your medical needs and budget.
A minimum coverage will cover you for hospital stays, doctor visits, and emergency ambulance rides whereas, some providers will also provide you extras - physiotherapy and dental care in their plans. Therefore, it is important to compare first and then buy.
OVHC: What is it?
If you are on working or visitor visas, there is another type of healthcare cover called Overseas Visitor Health Cover. You do not have to buy different health covers for different visas such as 417, 462, and 600. Although, many Australian visas require you to satisfy Australian health standards however, having an OVHC is not always mandatory. Still, we would advise you to have an adequate cover to ensure safety and peace of mind during your stay.
If you, at some point decide to switch your provider or change the level of your health cover, you must do at the earliest. Major OVHC providers are NIB, BUPA, Allianz, AHM, and Medibank. You can also include extras in your coverage to avail more health benefits. Remember, the more benefits, the better.
OSHC and OVHC: Similarities
Both OSHC and OVHC covers almost the same medical expenses such as –
• The availability of both public and private hospitals
• Emergency medical ambulance transportation
• Doctor and specialist consultations
• Costs associated with laboratory testing
• Short-term prescription medication
With OVHC, you can also get inpatient hospital psychiatric care, just as OSHC provides.
OSHC and OVHC: Differences
One of the key differences between OSHC and OVHC is that the latter is usually paid monthly, whose amount depends on the plan and provider you buy from. However, you can still make payments fortnight as per your flexibility.
The reason being, OVHC covers various visas, even if you are staying for three to twelve months. On the other hand, OSHC is paid in full for the exact time you are in Australia on a student visa.
Key Takeaways
To migrate to Australia you need health insurance and there are two types: Overseas Student Health Cover (OSHC) for international students and Overseas Visitor Health Cover (OVHC) for international visitors, workers, or travellers.
Both OSHC and OVHC are similar yet different. Seek guidance from your provider to know better. A general health cover will provide you coverage for hospital access, emergency medical ambulance services, doctor and specialist visits, and prescription medicines.
Get in touch with Budget Policy to compare and buy best health cover for you and your family. With us, you can save big on your pocket too. Contact today!
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