In this article: Why buy a Basic policy? So, you know that there are four different tiers of hospital cover, right? If you didn’t, they’re Basic, Bronze, Silver and Gold. And then of course there’s Basic Plus, Bronze Plus and Silver Plus – because why would the industry want to make health insurance simple and easy to understand? Here’s the deal: if you want to buy health insurance for financial reasons (because you earn more than $90,000 per year, or to avoid being slugged with the Lifetime Health Cover loading, for instance), then a Basic policy is the way to go. It’ll prevent you from having to pay extra tax but won’t cost you a fortune. Sounds simple, yes? Well, not quite. Our health insurance experts trawled the data and found that in NSW/ACT, NT, SA and Tasmania, some Basic policies are actually more expensive than Bronze policies – […]