Health Insurance Consultants Australia Pty Ltd HICA is one of Australia’s leading specialist health insurance brokers. We are creative and client focused. With over 30 years’ experience and access to a large range of healtfh insurance funds and their product ranges, we have developed an innovative range of health plans structures to cater to all manner of our client corporate health plan requirements. HICA provide specialist health and medical insurance consulting services for corporates, professional associations, and SME’s throughout Australia and New Zealand. Our services are retained internationally by some of the world’s leading corporate consultancy firms, migration agents and Broking houses.
Our role is to specialise in helping you to understand and assess your various options, negotiate the best terms from underwriters on your behalf, implement and roll out the plan including employee engagement as well as ongoing administration, management and support.
Key characteristics of HICA corporate health plans include:
We’ve made it our business to be the experts in private health insurance in Australia.
Corporate health plans should provide comprehensive benefits to ensure coverage is extensive to accommodate the varying needs of all employees and so that employees will be motivated to participate.
As a minimum benefit a corporate health plan should offer a hospital treatment product and the cover should be comprehensive. This typically provides cover for hospital accommodation in a private or public hospital and in-hospital medical services The coverage is extensive without restrictions or exclusions covering all conditions recognised by Medicare.
A factor in moderating the premiums for hospital treatment is the adoption of an excess payment. An excess payment is an amount of money paid by the insured when they are admitted to hospital. The larger the excess payable on admission, the lower the premium offered by the insurer. Excesses range from no excess, $250 or $500 per admission to hospital.
Extras cover a wide range of complimentary medical services including dental, physiotherapy, chiropractic, optical, massage and other therapeutical services to assist with people’s general health and wellbeing. The comparison of the extras cover benefits can be quite complex as the number of services covered by one product can be significant.
Industry health claims statistics tell us that 80% to 90% of all claims are for dental, optical, physiotherapy and chiropractic. Other services include remedial massage, dietetics, pharmacy, artificial aids, occupational/speech & eye therapy and a range of natural therapies.
Usually, corporate health plan extras products focus on the main service groups and provide benefits based on a percentage of the cost of the service. Typically, the percentage of cost benefits ranges from 60% through to 90%.
Benefits are subject to annual claim limits per person or per policy.It is the function of percentage of cost and claim limits that determines the premium.
The higher the percentages and limits the higher the premium.
To be competitive with other employers in banking, finance and investment industries in Australia, we would recommend that you offer a corporate health insurance package incorporating a Comprehensive Hospital Policy and Extras Cover with rebates for a broad range of services at around 80% of the actual charge for the extras services
Take advantage of our obligation free corporate health plan review: As a health insurance broker, we represent our clients and not the insurer.
With nearly 30 years’ experience in providing private health insurance packages, enables us to provide you with advice on the structure and composition of a corporate health schemes to suit your specific requirements.
We negotiate, on your behalf, terms or improve benefits with private health fund insurers to ensure that your health insurance scheme provides value not normally available to the general public and we provide a continuing overview of all products and schemes that we implement.
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