Our insurance experts have looked at Silver hospital insurance policies from over 40 health insurers to see which ones offer the best value. Work out whether you can secure cover that’ll save you money by comparing health insurance.
Need to know a bit more about what Silver insurance is first? We explain what’s covered under Silver hospital insurance, the differences between Silver and Silver Plus policies, and what you can expect to pay.
What is Silver health insurance?
Silver health insurance is a mid-level private hospital insurance that covers 26 categories of services in private hospital.
If you want an intermediate health insurance policy that covers you for most of the essentials and you don’t have any major health issues or you’re not planning to start a family, a Silver health insurance policy could work for you.
If you want cheaper health insurance, try Bronze or Basic policies. Or if you’re looking for higher cover, you might want Silver Plus or Gold health insurance.
A Silver Plus policy is a level up from Silver but is cheaper than the top-tiered Gold. Silver Plus policies cover the above 26 Silver-level services in private hospital plus at least one of the below treatments not covered in Silver:
IVF, pregnancy and birth
joint replacements
cataracts
rehabilitation
hospital psychiatry
palliative care
gastric banding and obesity surgery
insulin pumps
sleep studies
dialysis
pain management with a device (for example, a surgically implanted device to manage pain caused by heart disease).
If you want cover for a specific treatment in the above list, such as pregnancy, you might be able to buy a Silver Plus policy. If you need more cover, you’ll need to opt for a Gold policy with all the bells and whistles.
CHOICE tip: We’ve found in many states that Silver Plus policies are actually cheaper than Silver policies that cover fewer treatments.
How much is Silver health insurance?
Silver and Silver Plus health cover for a family policy with a $750 excess costs on average about $320 for Silver and $410 for Silver Plus (without the health insurance rebate). The cost varies depending on which state you live in, how much you earn, the level of excess, and when you first bought health insurance.
What is a health insurance excess?
An excess is an amount you pay as a contribution when you go to hospital. The higher your excess is, the lower your monthly premium will be.
You’re better off with an excess if you’re healthy and don’t plan to go to hospital anytime soon, but consider a low or no excess option if you think you’ll go to hospital sooner rather than later.
CHOICE health insurance reviews
Wondering whether you’re overpaying for private health insurance? We’ve built a tool that lets you compare thousands of health insurance policies from over 40 health insurers (see the full list of below).
Our experts rate policies based on out-of-pocket costs, fund complaints, price and more, and we’re 100% independent, which means we don’t show sponsored results like other comparison sites.
Some people will save over 30 times the cost of a quarterly CHOICE membership by using our tool to find a cheaper health insurance policy. Joining CHOICE also means you’ll get access to our other recommendations and could stand to save money across a range of household products and services you use every day.
While our reviews are for members, we’ve got lots of helpful free health insurance content (like advice from our experts, explainer articles and buying guides) to help you better understand your options.
Health funds included in our review
With our health insurance tool you can compare policies from over 40 health insurers:
Jodi Bird is the Managing Financial Content Editor at CHOICE. Previously at CHOICE, he worked as Travel project lead and as a Finance specialist.
Jodi has over 30 years experience in financial services, having worked with major banks such as CBA, Westpac and Credit Suisse. He enjoys breaking down complex consumer decisions into easy to understand steps and holding companies to account for failing their customers. He is regularly called upon for expert commentary by major broadcasters such as the ABC, SBS, and Channels 7, 9, and 10.
Jodi has a Bachelor of Commerce majoring in Economics from the University of Wollongong. He is RG146 compliance certified to provide general advice for General Insurance and is a Responsible Manager on CHOICE's Australian Financial Services License.
Find Jodi on LinkedIn.
Jodi Bird is the Managing Financial Content Editor at CHOICE. Previously at CHOICE, he worked as Travel project lead and as a Finance specialist.
Jodi has over 30 years experience in financial services, having worked with major banks such as CBA, Westpac and Credit Suisse. He enjoys breaking down complex consumer decisions into easy to understand steps and holding companies to account for failing their customers. He is regularly called upon for expert commentary by major broadcasters such as the ABC, SBS, and Channels 7, 9, and 10.
Jodi has a Bachelor of Commerce majoring in Economics from the University of Wollongong. He is RG146 compliance certified to provide general advice for General Insurance and is a Responsible Manager on CHOICE's Australian Financial Services License.
Find Jodi on LinkedIn.
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