Getting older isn’t what it used to be! As Aussies, we’re working longer, getting social and staying fitter than any generation before us. But the truth is, getting older can bring new challenges when it comes to our health. When you organise your health insurance, it’s important to feel that your health fund is catering to your needs. AAMI Health Insurance helps you to tailor your health cover by choosing the level of Hospital Cover that suits you best and then adding on the Extras you want. Tailoring your health cover could help you save money as you won’t be paying for things you’re unlikely to need – like pregnancy and birth related services. Here are just 4 benefits of health insurance for seniors with AAMI Health Insurance:
1. Switching is easy
There’s no need to wait to claim on services if you change from one insurer to an equivalent level of AAMI Health Insurance cover. We’ll recognise any waiting periods you have already served with your current fund so that you won’t need to restart those waiting periods. Waiting periods will apply for services not currently covered by your original fund, and any benefit limits already used with your current fund in that calendar year will carry over to your AAMI Health Insurance policy.
For many people looking to switch health insurance providers, not having to wait for months when you need something is a big relief. When you switch to AAMI Health Insurance, you won’t have to go back to square 1. So, if you switch to AAMI Health Insurance’s Everyday Boost Hospital from an equivalent level of cover, you’ll skip the 2-month waiting period on services like rehabilitation of injured joints and limbs. Plus, skip the stress of extra admin – when you switch to AAMI Health Insurance we’ll take care of all the paperwork.
2. Get unlimited emergency ambulance transport
All AAMI Health Insurance levels of cover include unlimited emergency Ambulance Cover – so you can relax and know that you’ll be covered for any unexpected emergency ambulance trips. If you need medical attention and your condition means that you can’t be transported in another way, you will be covered for:
Unlimited emergency ambulance transport to hospital provided by a state or territory ambulance service.*
Emergency ambulance call-out fees (where you’re treated at the scene by paramedics and it is determined that transport to hospital is not required).
Transport between hospitals when the transfer is required as a result of the existing hospital not specialising in the treatment required.
*Residents of QLD and TAS are covered for Ambulance Services by their respective state governments.
3. Get added cover with Extras
Health insurance for seniors can help if you’re sick or injured, but we also think your Extras Cover should let you keep your active lifestyle and feel good no matter how old you are.
Depending on your needs and the level of cover you choose, you can get up to 70% of the cost of Extras back each time you claim (up until you reach the annual limit). For example, if you take out AAMI Health Insurance Starter Extras cover, you can get back 60% on Physio, Chiro, and General Dental procedures. Opting for Extras cover is a smart choice when it comes to prevention and encouraging good health as you get older.
4. Choose your excess & reduce your premium
If you’re admitted to hospital and you have health insurance, you pay an excess. Depending on the level of cover you have, your excess with AAMI Health Insurance will be either $250 or $500. When you take out AAMI Health Insurance cover, you can select a higher excess amount on either our Everyday Boost Hospital or Premium Hospital covers. This way you’ll reduce the premium you pay for your health cover.
To make sure you get the health insurance that meets your lifestyle and budget as you get older, use our AAMI Health Insurance comparison guide. Got a question about health insurance for seniors? Call us to speak to a friendly AAMI staff member on 13 22 44 (MON to FRI - 8.00am - 8.00pm AEST/AEDT SAT - 9.00am - 1.00pm AEST/AEDT )..
AAMI Health Insurance is issued by nib health funds limited ABN 83 000 124 381 (nib) a registered private health insurer, and is arranged by Suncorp Insurance Ventures Pty Ltd ABN 53 158 182 042 (SIV), for which SIV receives commission.
With private health insurance you won’t have to wait on public hospital waiting lists when you need treatment. In comparison, waiting times for treatment as a public patient in a public hospital under Medicare are on average: • 4 months for removal of tonsils (120 days)
• 1.5+ weeks for coronary bypass surgery (13 days)
• 3.5+ months for hip replacement surgery (114 days)
• 6+ months for knee replacement surgery (188 days)
Source: Australian Institute of Health and Welfare, Australian hospital statistics 2015-2016: elective surgery waiting times.
Medicare Levy Surcharge
The Medicare Levy Surcharge (MLS) is a government tax on top of the normal Medicare Levy and impacts singles with a taxable income of over $90,000 or families (including couples and single-parents) with a taxable income of over $180,000 who don’t have an appropriate level of private hospital insurance for the full financial year.
Holding any AAMI Health Insurance Hospital Cover product means you won’t pay the MLS if your income is above the government threshold and you maintain your hospital cover for the full financial year.
Lifetime Health Cover (LHC) loading is a government charge which adds 2% on to the price you pay for Hospital Cover if you sign up after 30 June following your 31st birthday. The loading increases by 2% for every year you don’t join, up to a maximum of 70% and can only be removed after 10 years of continuous Hospital Cover.
For example, if you sign up at the age of 40 you’ll pay an extra 20% for your Hospital Cover compared to someone who joined aged 31.
Standard waiting periods
1 day: Accidental Injury; Emergency Ambulance.
2 months: Palliative Care; Rehabilitation; Psychiatric Treatment; Hospital Treatment not related to a pre-existing condition.
12 months: Pregnancy and Birth Services; Pre-existing Conditions: When a customer has shown symptoms of a condition during the 6 months prior to joining this health fund or upgrading their Hospital Cover. This does not apply to Palliative Care, Rehabilitation or Psychiatric services.
Not all of the above services are included with each level of Health Insurance cover. Waiting periods apply to customers not currently covered for these services. Use our Health Insurance comparison table to see the complete list of included and excluded services.
We don’t cover procedures or hospital costs associated with cosmetic procedures to enhance appearance.
AAMI Home Building and Home Contents Insurance, Landlord Insurance, Strata Insurance, Car Insurance, Motorcycle Insurance, NSW and ACT CTP Insurance, Caravan Insurance, Business Insurance and Travel Insurance are issued by AAI Limited ABN 48 005 297 807 AFSL 230859 (AAI) trading as AAMI. AAMI Life Insurance and Accidental Injury Insurance are issued by Suncorp Life & Superannuation Limited ABN 87 073 979 530, AFSL 229880 (SLSL) and are distributed by Suncorp Financial Services Pty Ltd ABN 50 010 844 621, AFSL 229885 (SFS) under the AAMI brand. AAMI Income Protection is issued by SLSL and distributed by SFS, under the brand AAMI, and AAI, who only issues the redundancy benefit. AAI trading as AAMI does not provide any financial product advice in relation to AAMI Life Insurance, Accidental Injury and Income Protection (except in relation to the redundancy benefit).
AAMI Health Insurance is issued by nib health funds limited ABN 83 000 124 381 (nib) a registered private health insurer, and is arranged by Suncorp Insurance Ventures Pty Ltd ABN 53 158 182 042 (SIV), for which SIV receives commission. Registered Office, Level 28, 266 George St, Brisbane QLD 4000. Information provided is general advice only and has been prepared without taking into account any person’s particular objectives, financial situation or needs. Read the relevant Product Disclosure Statement or Policy Document available at www.aami.com.au and consider whether it’s appropriate for you before making any decisions about whether to buy or continue to hold a product. Information current as of 9 July 2015.