Sample ** Health insurance terms made easy** Demo Data

We get that some Health Insurance terms can be confusing.

We’ve broken down and demystified some of the most commonly used terms in health insurance to help you understand and get the most out of Bupa’s cover offering.

Health insurance excess: What does it mean?

Your health insurance excess is the amount you pay when you’re admitted to hospital. It’s like an up-front payment you can agree to pay if you need to go to hospital, as a way to reduce your premiums.

You can lower your monthly premiums by agreeing to pay a larger excess, usually ranging between $0 to $1,000. If you choose a $0 excess, your premium will be more expensive. Choosing a $750 excess, however, would lower your monthly health insurance premiums.

What is a ‘co-payment’ in health insurance?

An agreed amount you pay each day that you are in hospital, usually up to a maximum number of days. It usually applies every time you are admitted to hospital. You can choose to have a higher co-payment to lower your monthly premium.

What does ‘out-of-pocket costs’ mean for Hospital Cover?

While health insurance covers some of the costs of hospital or extras services, it doesn’t cover it all. The amount you pay to cover the difference is known as an ‘out-of-pocket cost’.

What does 'no gap' mean in health insurance?

‘No gap’ means we will cover your ‘out-of-pocket costs’ so there is nothing to pay.

What is an age-based discount?

If you’re aged 18-29, you’re entitled to an age-based discount on your hospital cover. The discount starts at 2% for each year you’re under 30, when you first purchase hospital cover. The maximum discount is 10% for 18 to 25 year olds. The younger you are when you purchase hospital cover, the more discount you may be entitled to.

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