Switching Health Insurance: Everything You Need to Know
There could be a possibility of not getting the desired outcome from your existing health cover in Australia that you might have expected. In Australia, we have two types of private health insurance – Overseas Student Health Cover and Overseas Visitor Health Cover.
NIB is one of the popular choices for buying both – OSHC or OVHC in Australia by international students and visitors. NIB can be your best health partner when it comes to insuring you and your loved ones health.
No matter if, you are looking forward to staying healthy or want to understand how the health system works in Australia when it comes to visiting doctors, hospitals, and more. NIB has you covered.
So, when you realize that it is high time to switch your health insurance in Australia, you must familiarize yourself with some of the top questions to ease up your switching process. And voila! The following blog will help you with the same.
Let us get started!
Top Questions for Switching Health Insurance in Australia
Is it possible to change health insurance at any time?
You are in luck because, yes, you can change your health insurance provider at any time you feel like it is not satisfying your health needs. So, while you are switching your provider, your former health insurance provider will be obliged to pay out what is left for the year's coverage. This will happen only if you have paid anything in advance.
What is the ideal time to change health insurance?
It may be beneficial in some circumstances, where you can switch your health insurance cover before the increase of the yearly premium, which supposedly happens on April 1 of every year. This is the result of many health insurance companies allowing you to pay your annual rates prior. If you pay your annual premiums prior, you can secure your present rates before 1st April. This is indeed, one of the key advantages of paying your annual premium before. Various factors including how fast your new provider increases the rates will impact your savings. Always keep in mind that your main goal during the switch of your health insurance is to get the best health cover that satisfies your needs.
How health insurance can be changed?
It does not take much effort to switch health insurance providers. At NIB, the experts make sure that the majority of your health insurance work is well taken care of. You have to do a simple thing, provide the information from your previous health insurer after choosing your new health cover. To cancel your previous health cover and a transfer certificate, your new health provider will contact your former health insurance provider. Make sure there are no auto-debits set up with your previous health cover after your new health cover comes into effect.
How to switch to NIB?
You must wonder if having a single health insurance would be simple, right? Well, let us keep it that way by providing you with an ideal health cover and getting a quote as easily as possible. That is what NIB does, after signing up with them; you can sit back and relax knowing that everything from getting in touch with your former provider to getting the best quotes will be taken care of by NIB.
A transfer certificate: what is it?
As per the Private Health Insurance Act, your former health cover provider must provide your new health cover provider with a transfer certificate within 14 days of your switch to nib. The transfer certificate provides information related to your previous health insurance – the type of coverage you had, waiting periods, and your claim history. After receiving this certificate, you can make claims for the health or medical services for which you are eligible.
Summary
Top health cover providers in Australia are NIB, BUPA, AHM, Allianz, Medibank, etc. You can switch to any provider depending on your health needs and budget if you ever feel like switching. In the above-mentioned blog, we have mentioned answers to key questions for changing to an NIB provider.
NIB is one of the leading providers and has successfully catered to thousands of individuals from across the world. If you are also struggling with your current health cover and would like to switch, then get in touch with our expert team at Budget Policy to know more.
With our expertise, you can save big on your health cover and get the best plans in no time. Contact us today!
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