Understanding OSHC can be overwhelming, but learning key terms makes it easier to manage your policy and take full advantage of your cover.

Premiums

A premium is the amount you pay for your OSHC policy, usually on a monthly or annual basis. It covers your healthcare costs during your stay.

Different providers and plans have varying premium rates depending on coverage inclusions.

Excess

Excess is the amount you agree to pay out-of-pocket for some medical services before your OSHC provider contributes. Not all plans have an excess.

It is important to understand excess amounts to avoid surprises when visiting a doctor or hospital.

Waiting Period

The waiting period is the time you must wait after purchasing OSHC before certain benefits become payable. This often applies to specific services.

Knowing these periods ensures you plan your health needs accordingly.

Pre-existing Conditions

Pre-existing conditions are health issues existing before the start of your OSHC policy. Some insurers may impose restrictions on coverage related to these conditions.

Disclose all relevant health history when applying to avoid claim complications later.