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What is a Health Fund “Excess”?
A health fund “Excess” may be payable to your health fund when you have a surgical or endoscopy procedure in a private hospital. This arrangement will have been agreed by you when taking out your private health insurance.
How Much is my “Excess”?
You will need to contact your health fund to ask how much your excess is. Unless you have “Top Cover” (where no excess is payable), then it is likely you will have an excess. A standard excess amount is $500 but it may be more or less then this depending on the contract you agreed to.
How Often do I Pay an “Excess”?
In most cases, the “Excess” is payable only once each calendar year. This means, for example, if you have surgery on 1st January 2021, then you have up until 31st December 2021 to have further surgery without having to pay any further excess.
Who receives the “Excess” money?
The Excess is received by the hospital you are admitted to the day of your procedure, and transferred entirely directly to your health fund.