An excess is the amount of money you pay out of pocket if you’re admitted to hospital. Our range of hospital covers feature an excess to lower premiums by allowing RACQ Health Insurance members to share some of the cost of hospital admissions. The excess is calendar year based. An excess is payable for all admissions to hospital.
All of our hospital covers have a $500 excess option, and we also offer a $750 excess on all hospital cover except for Basic Hospital. A higher excess will reduce your premium. A lower excess means you’ll pay less on admission to hospital, but your premium will be higher.
The excess works like this: if our full benefit for a hospital stay was $5,000 and your policy has a $500 excess on your hospital cover, the benefit would reduce to $4,500.
You only pay one excess per person on the policy per calendar year if you claim on your hospital cover. Subsequent claims won’t incur another payment. No excess applies for child dependants on all RACQ Health Insurance covers.
For example, if your couple policy has an excess of $500, you will be required to pay the first $500 of your hospital costs should you go to hospital as a private patient. You would only have to pay this once per calendar year, even if you have multiple hospital admissions.
If your partner was also admitted to hospital as a private patient in that same calendar year they would also have to pay the first $500 of their hospital costs. They would only have to pay this once per calendar year, even if they have multiple hospital admissions.