Couple studying their SIS

Standard Information Statement

What is a Standard Information Statement? How this obscure document can help you understand your health insurance policy

A Standard Information Statement (SIS) is a summary of the benefits and limitations of a health insurance policy. Unlike a Product Disclosure Statement (PDS) that lists the terms and conditions of the policy in detail, an SIS is a snapshot of your cover and allows you to see the policy’s key features at a glance when reviewing your policy. Health insurance funds are required by law to provide an SIS with each policy they offer.

Looking for health insurance? Receive a quote from an adviser

What does a Standard Information Statement do?

A Standard Information Statement allows you to see, at a glance, if your needs are being met by a policy, and it's a useful way of comparing the features of two similar policies.

There are three main kinds of Standard Information Statements:

What should you be looking for in a hospital SIS?

When reviewing a hospital SIS, you should take note of key features such as:

  • Services covered. The hospital services covered including treatment, accommodation, medical services and ambulance and the extent to which cover is provided.
  • Exclusions. Hospital services that aren’t covered and for which you will not be able to claim.
  • Restrictions. Hospital services that are only partially covered, including those with restricted benefit limits and benefit limitation periods.
  • Waiting periods. The periods of time you will have to wait before claiming for particular services.
  • Excesses and co-payments. These are the amounts you will be required to contribute upfront towards your hospital treatment.
  • Out-of-pocket expenses. Any gaps you may have to pay between fees charged for hospital services and percentages covered by Medicare and your private health insurance.
  • Other features. Any additional features offered in the policy such as eligibility for loyalty schemes, health management programs or anything else.

What should you be looking for in an extras SIS?

When reviewing an extras SIS, you should look at the following key features:

  • Services covered. The types of ancillary services covered such as dental, optical, physio, chiro, podiatry and natural therapies and whether the insurer has a preferred provider arrangement with any practitioners.
  • Benefit limits. The maximum benefits you can claim for these services per person per year.
  • Waiting periods. The periods you will need to wait before being able to claim for these services.
  • Other features. Additional features offered such as loyalty schemes, preventative healthcare treatments and health management programs.

What should you be looking for in a combined SIS?

When reviewing a combined SIS, you should look at the key features pertaining to both hospital and extras cover including:

  • Hospital services covered. Treatment, accommodation, medical services, ambulance, etc.
  • Exclusions. Hospital services not covered.
  • Restrictions. Hospital services only partially covered.
  • Waiting periods. The time you will have to wait before claiming for hospital services.
  • Excesses and co-payments. Amounts you must contribute towards your hospital treatment.
  • Out-of-pocket expenses. Any gaps you may have to cover yourself.
  • Extras covered. The types of ancillary services covered.
  • Benefit limits. The maximum benefits you can claim per person per year.
  • Waiting periods. The time you will need to wait before claiming.
  • Other features. Additional features offered by the insurer.

How does information on your policy document differ from an SIS?

An SIS differs from Product Disclosure Statements (PDS) or product brochures in that it is a general overview only, while a PDS is a detailed description of the benefits, restrictions, exclusions and terms of your cover. The information supplied in an SIS is general information only and should not be relied on to provide an accurate picture of your cover. It can differ from your actual cover in several ways including:

  • Premium amount. This may differ from the premium you actually pay as it is the basic monthly rate for that product and doesn’t take into account your personal payment frequency, your annual tax rebate, the level of your Lifetime Health Cover (LHC) loading or any discounts you may be receiving from your insurer.
  • Benefit limits. The benefit limits in an SIS are based on new customers, so if you’ve been with your insurer for several years, you may have higher benefit limits than those listed.
  • Excesses and waiting periods. These may also not be applicable to your circumstances, depending on the level of excess you have opted for and the amount of time you have held your policy.

Compare health insurance policies currently on offer

Details Features
High 65 / 75 / 85% - $0/$250/$500 Excess
High 65 / 75 / 85% - $0/$250/$500 Excess
Combines High Hospital Cover with its highest level of extras cover.
  • Cover starting from $44.74 weekly
  • 12 month waiting period for pregnancy
  • 65% back on extras
  • Choice of $0, $250 and $500 excess
Enquire Now More info
Premier Package
Premier Package
Top tier combined hospital and extras policy that covers you for an extensive range of hospital and general treatment services.
  • All the benefits of HCI's Premier Hospital policy
  • All the benefits of HCI's Premier Extras policy
  • Cover for pregnancy and IVF treatment
  • Cover for general and major dental
Get Quote More info
Deluxe flexi
Deluxe flexi
Deluxe flexi provides cover for a range of treatments including hip replacement, spinal fusion, dialysis and major eye surgery.
  • No excess for kids
  • All joint replacements
  • Major eye surgery
  • Rehabilitation
Enquire Now More info
GoldStar
GoldStar
Premium hospital cover with complete cover for hospital expenses. Save 4% when you pay for 12 months of your cover upfront.
  • All theatre fees covered
  • Unlimited maternity cover
  • Choose no excess or $200, $400, $500 per admission
Get Quote More info
Smart Combination
Smart Combination
Smart combination provides a high level of cover for both hospital and extras.
  • Claim up to $2725 back on extras
  • Hip and knee replacements
  • General and major dental
  • Physio
Enquire Now More info
Prestige
Prestige
Highest level of combined cover offered by CBHS. Includes the same benefits as Comprehensive Hospital and Top Extras plus more. Restricted fund: Only current or former staff (and their families) of Commonwealth Bank Group and their subsidiaries which include Aussie, Bankwest, Colonial First State and more can join.
  • No excess or co-payments on hospital cover
  • Non-student dependent under 25 can be kept on policy
  • Access to Chronic Disease Management Programs
  • Widest range of extras including orthodontics
Enquire Now More info
Bronze Hospital (no pregnancy) and Bronze Extras Set Benefits
Bronze Hospital (no pregnancy) and Bronze Extras Set Benefits
High level of hospital cover and extras cover for a range of popular services including knee and should reconstructions.
  • Most comprehensive hospital options
  • Cover for general and major dental
  • Shared or single room in a private hospital
  • Intensive and coronary care
Enquire Now More info
Premium Hospital and Silver Extras Cover
Premium Hospital and Silver Extras Cover
Comprehensive hospital cover including pregnancy cover. Also included affordable mid-level extras cover for dental, optical and therapies.
  • Cover from $39.50 per week
  • Pregnancy and birth-related services cover
  • Heart surgery cover
  • 100% cash back on two dental check per year
Enquire Now More info
Top Hospital with Top Extras
Top Hospital with Top Extras
Get comprehensive hospital and extras cover and tailor your policy to your needs.
  • Pregnancy and birth services cover
  • Back surgery cover
  • $1000 general dental annual limit
  • $600 physiotherapy annual limit
Enquire Now More info
Young Couples Combined Cover
Young Couples Combined Cover
Mid-level hospital and basic level Extras package with an excess for young, healthy couples that are not quite ready to start a family.
  • Emergency ambulance cover
  • Cancer-related surgery cover
  • 70% back on extras
  • $300 dental annual limit per person
Enquire Now More info

Picture: Shutterstock

Richard Laycock

Richard is the senior insurance writer at finder.com.au and is on a mission to make insurance easier to understand.

Was this content helpful to you? No  Yes

Related Posts

Ask a Question

You are about to post a question on finder.com.au

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com.au is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Disclaimer: At finder.com.au we provide factual information and general advice. Before you make any decision about a product read the Product Disclosure Statement and consider your own circumstances to decide whether it is appropriate for you.
Rates and fees mentioned in comments are correct at the time of publication.
By submitting this question you agree to the finder.com.au privacy policy, receive follow up emails related to finder.com.au and to create a user account where further replies to your questions will be sent.

Ask a question
feedback