What do I need to consider before changing my level of cover?
If you are planning to change your level of cover, we recommend requesting a Private Health Information Statement (PHIS) to learn more about your policy and compare with other levels of cover.
Here are some points to consider while comparing:
Premium Costs
Compare whether the new level cover fit within your budget.
Coverage
Consider if the new policy is the right level of cover for your needs, such as the Extras and other specific services you may need such as preferred hospitals and healthcare providers.
Waiting Periods
Understand that waiting periods could change depending on the amount you have served and/or the level of cover.
Medicare Levy Surcharge (MLS)
If you are a high-income earner and cancel your hospital cover, the MLS may be subjected to you.
Family or Dependents
If you have a family policy, consider how the change may impact the cover for members in the policy.