In April 2006, the Government announced reforms to private health insurance, including a requirement that health insurers provide Standard Information Statements (SIS) on all private health insurance products they offer. These reforms were introduced on 1 April 2007. Health insurers are required by law to provide these Statements so you can review your existing policy or compare private health insurance products.
A Standard Information Statement only gives a summary of the key product features. However, it does allow you to see if your broad needs are covered and where products differ in both price and features. You will need to contact Health Care Insurance to get all the details about the product.
You should not rely on the $ amounts for premiums or benefits on the Statement as they are there for comparison only. The actual premium may vary depending on your circumstances, for example, your age and your age when you first got health insurance. Benefits will vary depending on the details of your policy, the treatments you are having, the hospital you visit and who treats you.
Note that some words used in the Statement may not be exactly the same as those that Health Care Insurance uses, but we will be able to explain any differences.
As with all types of insurance, conditions will apply, so don't just rely on the Statement - once you have full details from Health Care Insurance, make sure you read them carefully before signing up and paying your premium.
There are three types of Standard Information Statements:- describes the features and limitations of hospital cover, including the type of accommodation, which medical services are covered in full, part or not covered, waiting periods and additional payments (excesses, co-payments and gaps),