"Private health insurance is a policy that covers the expense of private medical care, such as consultations, diagnostic tests, and treatments."
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What is a No Claims Discount?
A no-claims concession is granted to policyholders who do not file any claims within a certain period.
How Do Excesses Impact My No Claims Discount?
A policyholder’s no-claims concession may be affected by an excess. If the policyholder has a high deductible, they may be unable to submit claims for minor medical expenses, affecting their no-claims bonus.
Yet, a bigger deductible might also lead to reduced rates. Private health insurance plans often stipulate that policyholders must obtain treatment from authorised healthcare providers.
What are Approved Healthcare Providers?
Authorised healthcare providers are hospitals and providers with whom the insurer has agreed to treat policyholders.