Canstar has named the winners of its annual Overseas Student and Working Visa Health Cover Awards.
International border closures have had a massive impact on the number of overseas students and workers coming to Australia. But with the rollout of the COVID-19 vaccine now underway, some are calling for international students and skilled workers to be prioritised when travel opens up.
Canstar’s Outstanding Value – Overseas Student Health Cover (OSHC) and Working Visa Health Cover (WVHC) Awards recognise the insurers that provide outstanding value to these kinds of customers. The Awards are based on Canstar’s Star Ratings, which use a sophisticated and unique rating methodology to compare health insurance policies offered to international residents who are in Australia to study or are on a working visa (such as a 457 visa).
Each policy considered has been assessed and rated based on both price and features. To determine the price score for each policy, Canstar has considered the premiums and other relevant costs. To determine the feature score, Canstar looked at factors such as the hospital and medical cover offered. Other factors considered included the application and claiming processes.
These policies were considered for their hospital cover for in-hospital benefits, and medical cover for out-of-hospital benefits such as prescription medicines and going to a general practitioner.
For more information on how the Awards are determined, read the OSHC methodology and the WVHC methodology.
In alphabetical order, the winners of Canstar’s Outstanding Value – OSHC Award are:
Bupa has received an Award for its OSHC offering. Bupa offers a high level of cover at a competitive price, according to Canstar Research. It consistently offers some of the most competitive premiums in the market, including 100% back on eligible specialist, radiology and pathology services.
nib continued its strong performance in 2021 and has retained its OSHC Award for its third year. nib maintained its premiums year on year, Canstar Research said. It also continues to offer high levels of hospital and medical cover.
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The winner of Canstar’s Outstanding Value – Working Visa Health Cover Award is:
nib also retained its Working Visa Health Cover Award in 2021 for the sixth year running. nib offers two Working Visa products which are designed with different consumer needs in mind. nib’s Budget policy is an option for people looking for high levels of hospital cover who do not require medical cover (such as for prescription medicine or GP visits), Canstar Research said.
nib’s Basic policy is designed for consumers looking for both hospital and medical cover. Canstar Research noted that the policy offers no pharmacy (PBS listed only) out-of-pocket costs up to $500 per person per policy each year, and comes at a competitive price. A waiting period may apply.
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The Star Ratings and Awards referred to in this article were published in March, 2021. View Canstar’s Overseas Student Health Cover and Working Visa Health Cover Star Ratings and Award methodologies for more information. The results are general advice only and not personal financial advice. They do not include all providers and may not compare all features relevant to you. Consider whether this general financial advice is right for your personal circumstances. Star Ratings and Awards are only one factor to take into account when considering products. Costs, features and other product information should be confirmed with the relevant financial institution. If you are seeking to replace an insurance policy, you should consider your personal circumstances, including continuing the existing cover until the replacement policy is issued and cover confirmed. Your current policy may have different features to products currently on the market. Please consider what features are right for you when comparing insurance products and refer to the provider for further details on a policy. Consider the Product Disclosure Statement before making a purchase decision. Read our FSCG.
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