Guide to Waiting Periods for OSHC & OVHC

OSHC stands for Overseas Student Health Cover, an insurance specially curated for students going to study in Australia. The policy helps students care for their healthcare needs during their stay.

The health insurance policy for students in Australia covers –

• Doctor’s appointments.
• Staying in the hospital.
• Ambulance.
• Prescribed medicines.

The Australian Government has made it mandatory for all international students to purchase OSHC; therefore, having it along with your visa should be your top-most priority before entering Australia.

OVHC, on the other hand, stands for Overseas Visitors Health Cover, which takes care of the healthcare needs of visitors visiting Australia. The policy helps visitors to look after the potential health expenses that may occur during their visit.

The health insurance policy for visitors in Australia covers –

• Hospital or doctor visits.
• Specialist consultations.
• Prescribed medicines.
• Dental, optical, and Physio health needs.

Before you can claim the benefits of the respective health insurance policies, you must wait for a period. Hence, the name waiting period. We will talk about it in detail in the following blog.

What are Waiting Periods?

To define the waiting period, it is the time after you have bought your health insurance plan until you can avail of its benefits. Simply put, the gap between your purchasing and availing time is known as a waiting period.

No benefit of the health insurance policy can be availed during the waiting period. Therefore, if any health needs are required to be taken care of during your waiting period, all the expenses will be bear by you.

In addition, waiting periods are different for different healthcare needs. Therefore, you must go through your plan wisely before buying it to know how long you need to wait to avail your policy’s benefits.

What are Waiting Periods for OSHC?

Different OSHC policies start from basic to premium, and all of them have different waiting periods.

Standard Cover

• There is no waiting period if you visit a general practitioner, seek psychiatric help, or get emergency treatment.
• You will have to wait for 12 months to avail of pregnancy healthcare needs.
• There is a 12-month waiting period if you have any pre-existing medical condition to be treated timely.

Essentials Cover

• There is no waiting period if you visit a general practitioner, seek psychiatric help, or get pregnancy-related or emergency treatment.
• There is a 12-month waiting period for your pre-existing medical conditions.

What are Waiting Periods for OVHC?

Budget and Standard Visitors Cover

• There is two months waiting period for pre-existing psychiatric medical needs.
• There is a 12-month waiting period for all kinds of pregnancy treatments.
• There is a 12-month waiting period for any pre-existing medical condition.

Budget, Standard, Mid, and Top Cover Plans for Working Visa Holders

The waiting period here is similar to budget and standard visitor cover.

• There is a 2-month waiting period for pre-existing psychiatric medical needs.
• There is a 12-month waiting period for all kinds of pregnancy treatments.
• There is a 12-month waiting period for any pre-existing medical condition.

Mid or Top Cover Plans for Working Visa Holders

• There is a waiting period of 2 months for general dental, speech therapy, physiotherapy, chiropractic, psychology, etc.
• There is a 6-month waiting period for optical and health management programs and unique dental needs.
• There is a 24-month waiting period if you plan to undergo laser eye surgery and hearing aids.

Remember:

• There is no waiting period for any emergency treatment taken by an approved ambulance service.
• There will be waiting periods for all subsequent hospital and medical costs.

When does Waiting Period usually begin?

The waiting period will usually begin from:

• The date you (or your dependent) arrived in Australia or,
• The date you got your visa or,
• The date your policy started (only for OVHC).

Conclusion

If you are looking for OSHC or OVHC insurance, you are at the right place. We at Budget Policy provide all your insurance needs under one roof. Therefore, get the health insurance policy according to your needs at the best price.  

Our experts will guide you through the buying process and everything you need to know about your plan and its waiting period. Enjoy the seamless and fast buying experience hassle-free today. Reach us through our website, and let’s connect.