In Australia, hospital cover is now grouped into four standard tiers: Gold, Silver, Bronze and Basic. These categories were introduced to make it easier to understand what you’re covered for and to compare policies between funds.
Each tier includes a set list of hospital treatments. The higher the tier, the more treatments are included.
Gold
Gold is the top level of hospital cover. It includes all 38 clinical categories, such as pregnancy and birth, joint replacements, cataracts and psychiatric care. This tier is usually chosen by people who want the highest level of protection or have specific health needs that require more comprehensive cover.
Silver
Silver policies cover a wide range of treatments but exclude some of the more expensive ones like pregnancy, weight loss surgery and joint replacements. Some funds offer “Silver Plus” products that include one or more of these extras.
Silver cover suits people who want good protection for common health needs but don’t need the full scope of Gold.
Bronze
Bronze cover includes treatments like joint reconstructions, ear, nose and throat surgery, and some mental health services. It doesn’t cover areas like pregnancy, heart surgery or pain management with devices.
This tier is often a good starting point for people who want affordable cover with protection for more common procedures.
Basic
Basic policies provide minimal cover and are often used to avoid the Lifetime Health Cover loading or the Medicare Levy Surcharge. These policies generally only cover treatment in public hospitals or for a limited set of services.
Making the right choice
When choosing a tier, think about what health services you might need now and in the future. Also consider your budget and whether you want a higher level of peace of mind.
You can combine hospital cover with extras depending on your needs. (Link to: Types of policies and how to choose the right one)