How to Save on Health Insurance While Studying or Working in Australia

It is easy planning your higher education in top countries like Australia and settling for a bright future. However, keeping up with your finances can be difficult, especially when you are in a new country. Speaking of which, let us talk about health insurance for international students and visitors.

You are required to have an adequate OSHC or OVHC before entering Australia to meet up with your visa requirements. But, how to manage it without burdening your pockets. Finding ways to reduce health insurance costs is important for those who have a tight budget, no matter if they are a student or skilled worker.

In the following blog, we will give you tips to help you save money without sacrificing on your coverage.

1. Understand the Basics of Health Insurance in Australia

Before learning about cost-effective options, let us know what exactly OSHC and OVCH are so that you know which health cover type you need:

• Overseas Student Health Cover (OSHC): This health cover is solely for international students on a subclass 500 visa enrolled in one of the known university sin Australia. This help them save big on their pockets by providing them an affordable way out to access Australian healthcare system.
• Overseas Visitor Health Cover (OVHC): This health cover is for international or skilled workers or visitors on certain skilled migration and temporary visas.

Know about the coverage you want to be included in your OSHC or OVHC so that it fulfills your visa requirement as well as your health needs are covered. And, most importantly, it does not burden your pockets.

2. Compare Policies from Multiple Providers

Australia has top health insurance providers such as Bupa, Allianz Care, Medibank, NIB, and AHM providing unique plans customized to your health needs and budget. You can use comparison tools or platform to compare them. One of the top comparison platform is Budget Policy, which helps you compare:

• Premium costs.
• Coverage inclusions such as doctor visits, hospital stays, prescriptions, emergency services, etc.
• Exclusions and waiting periods.
• Claim process.

3. Options for Budget-Friendly Policies

You do not have to go for costly plans especially, if the basic ones are covering your needs. Different people have different requirement and you must always go for the plan that you think is made for you. Avoid paying unnecessarily for plans that don’t fit your needs. For example:

• If you are healthy without having any medical history then you are good to go with basic OSHC or OVHC plan as per your visa type.
• If you are a family or couple then you can consider a bigger plan or the one that includes pregnancy coverage. These things can be discussed with your provider beforehand.

4. Pay Annually Instead of Monthly

Ask your provider prior making any decision about the payment that can the price for your OSHC or OVHC be paid annually or not. The reason being, monthly payments costs more than annual ones. That is why, it is best to opt for annual payments.

5. Use Your Insurance Smartly

Make the most out of your OSHC or OVHC in Australia by:

• Visiting healthcare providers for check-ups that are included in your health cover than the ones which are not.
• Maintaining your health cover timely so you do not have to bear extra costs later.

6. Take Advantage of Discounts or Offers

Guess what? Many providers offer huge saving options on buying OSHC or OVHC. Make sure you are aware of these benefits while buying your health cover. On buying OSHC through Budget Policy, you can: Some insurers provide discounts for:

• Save up to 47% on OSHC OR,
• Get up to $100 gift card on eligible products, OR
• 1-week Free PTE voucher.

7. Know Your OSHC or OVHC Renewal Time

Life without health cover in Australia, especially when you are an international student or visitor is not easy. So, it is extremely important to know your OSHC or OVHC renewal time so you can get the new coverage in-time.

8. Review and Adjust Your Coverage Regularly

Your health need might change in the future. In that case, you can get them altered by seeking advice from your provider. You may even switch to a better and affordable provider, if required.

9. Seek Professional Advice

Always seek professional advice when it comes to health cover in Australia. You cannot go wrong with buying your OSHC or OVHC in Australia. The health cover has to be good enough to do its job i.e., meet your visa requirements and ensure peace of mind.

10. Include Emergency Services

Make sure you have included emergency services in your health cover be it OSHC or OVHC. Basic OSHC and OVHC coverage includes emergency ambulance services. Other than that, as per your need, you can include the medical services.

Conclusion

Saving on your health insurance in Australia when on student visa or visitor visa is important. You have to make sure that you make most of your coverage throughout your stay in the country.

One of the most important thing is to buy an ideal plan. But, how? Get in touch with Budget Policy – you’re trusted and go-to partner for comparing and choosing OSHC or OVHC plans from top providers in Australia.

Also, save big on your pockets while buying OSHC and OVHC through us. Call us today or visit