How does RBHS hospital cover work?
Reserve Bank Health Society is a restricted health fund for current and former employees of the Reserve Bank of Australia (RBA) and Note Printing Australia (NPA). You can also join if you’re:
- The current or former spouse of an eligible current or former RBA employee.
- An adult child of an eligible current or former RBA employee.
Types of RBHS hospital cover
Gold Hospital Cover is the only type of hospital cover available. This comprehensive cover allows access to private hospital treatments for all Medicare procedures.
RBHS has access gap cover with no excluded or restricted treatments or procedures and no excess.
This cover provides private and public hospital treatment Australia-wide with minimal or non-existent out of pocket expenses.
The out of pocket expenses you might incur
- Extra services. Newspapers, TV hire and similar expenses may not be covered.
- Accommodation. For most private hospitals in Australia you won’t incur any accommodation costs. However, with some hospitals charging more than $245 per day for a shared room or $265 per day for a private room, you’ll need to pay any difference yourself.
- Medical gap expenses. Certain procedures may leave you with additional medical gap expenses if a doctor charges more than the Medicare amount (MBS amount). However, RBHS has agreements with more than 21,000 local doctors to pay more than the MBS amount to reduce or eliminate out of pocket gap expenses.
- Co-payments. A requirement for geriatric patients going to hospital.
- Prostheses. RBHS pays up to the amount specified in the Government Prostheses List for required surgical prostheses like heart stents. You may need to pay the difference when opting for prostheses that cost more than this.
- Non-Medicare procedures. These are not covered.
These are the typical out of pocket expenses you might encounter with almost any health fund. Consult your doctor about these and any amounts payable prior to receiving treatments.
What are the benefits and features of RBHS hospital cover?
This is comprehensive hospital cover equivalent to the highest level of hospital insurance available from Australian health funds, with some additional benefits.
Compared to other health funds, RBHS gives you the freedom to choose your preferred private hospital and fewer out of pocket expenses. With an exceptionally wide range of agreement hospitals, it also pays benefits even if you attend a non-agreement hospital.
Limitations and waiting periods
Some terms and conditions apply, waiting periods being one of the most significant. You can’t claim for certain services until after the relevant waiting period.
- 12 months. Pregnancy, IVF and pre-existing conditions.
- 2 months. Rehabilitation, psychiatric and palliative care (even if pre-existing conditions).
- 2 months. Everything else.
- No waiting period. Accidents requiring hospitalisation.
How to make claims
The hospital will bill directly to RBHS as applicable, while you pay additional amounts to the hospital.
How to pay premiums
You can pay by:
- Payroll deduction. If you’re a current employee of the RBA or NPA, or receiving a pension from either of these.
- Direct debit. Complete the payment authority form to set up premium payments with direct debits from the nominated bank account.
- Credit card.
Compare your health insurance options today