Mediabank

Medibank Company Profile and Products

Your pet deserves the very best medical coverage available.  Unfortunately, veterinary services can be quite expensive.  That is why so many Australians are purchasing pet insurance from companies like Medibank.

Medibank is one of the largest health insurance companies in Australia, with 3.8 million members (29.1% of the health insurance market).  They recently began selling pet insurance and have already established themselves as a market leader.  Their pet insurance products are underwritten by The Hollard Insurance Company, the largest provider of pet insurance in Australia.

Medibank has an excellent reputation and has been in business for more than 40 years.  Their pet insurance policies cover up to 80% of veterinary expenses from illnesses and accidental injuries.  Medibank sells three types of policies — Emergency Pet Care, Essential Pet Care, and Ultimate Pet Care.  Here is a closer look at the policies offered by Medibank.

Animals Covered by Medibank Pet Insurance

  • Dogs between 8 weeks of age and 9 years of age (when first registered)
  • Cats between 8 weeks of age and 9 years of age (when first registered)

Pet owners can obtain coverage for their older pet by purchasing an Ultimate Care Plan before the animal has reached 9 year of age.

The Benefits of Pet Insurance

Australia is a nation of pet lovers.  When our furry friends become ill or suffer from an accident we rush them to the vet immediately.  Unfortunately veterinary services have greatly increased in cost over the past few years.  Dealing with a tick or treating a skin condition can cost more than $1,500 dollars.  Surgery after your pet has been involved in a serious accident can easily reach $5,000 or more.

That leads us to the main advantage of pet insurance — the insurance company helps you pay for those unexpected veterinary costs.  This ensures that your pet gets the help they need.  You are far less likely to be placed in a situation where you have to choose between your pet’s health and you financial health.

Insurance providers like Medicare allow you to take your pet to any qualified veterinarian to be treated.  That makes it simple to find help if your pet has a sudden accidental injured or becomes ill.  You won’t have to find a veterinarian who is more affordable.  You can take your pet to the best vet you can find.

Pets have also become quite expensive to purchase in recent years.  A purebred French Bulldog or Pug can easily fetch $3,000!  That is a significant investment, so it on makes financial sense to keep your beloved pet safe with pet insurance.  

Pet insurance plans can also help you pay for other expenses.  For example, Medibank’s Ultimate Pet Care plan will pay up to $165 a year on routine and preventive care.  That includes things like vaccinations, flea treatments, and behavioural training. 

The Pet Insurance Plans Offered by Medibank

Medibank offers two plans that cover most accidents and illnesses (Essential and Ultimate Pet Care).  The Emergency Pet Care plan covers accidents and a small number of illnesses.  The key points of each plan are as follows:

Essential Pet Care

  • $4,000 Annual limit
  • 70% back on eligible bills
  • $0 or $100 excess options
  • 30 day waiting period for illnesses, 6 months for cruciate ligament
  • Covers accidents and illnesses
    This policy has more exclusions than the Ultimate Pet Care plan.  Those exclusions include Cat scans & MRI, Patella luxationsm, Elbow dysplasia, and Intervertebral Disc Disease (IVDD)
  • Sub Limits
    Certain conditions and treatments have lower annual payment limits.  They include cruciate ligament ($2,600), paralysis tick ($1,000), emergency boarding ($500), and vet consultations ($300)

The Essential Pet Care plan is an excellent policy for budget-conscious consumers.  It is an affordable policy that covers most accidents and illnesses.

Ultimate Pet Care

  • $15,000 Annual limit
  • 80% back on eligible bills
  • $0, $100 or $200 excess options
  • 30 day waiting period for illnesses, 6 months for cruciate ligament
  • Covers accidents and illnesses
  • Sub Limits
    Certain conditions and treatments have lower annual payment limits.  They include cruciate ligament ($2,600), paralysis tick ($1,200), emergency boarding ($1,200), and vet consultations ($300)
  • Routine and preventative care
    This optional feature gives you up to $165 a year on routine and preventative care

The Ultimate Pet Care plan is the most expensive policy offered by Medibank.  It is absolutely packed with features.  It has a very generous annual limit and excellent excess options.  This is a great choice if you want to be certain your pet has the coverage they require.

Emergency Pet Care

  • $8,000 Annual limit
  • 80% back on eligible bills
  • $0, $100 or $200 excess options
  • 30 day waiting period for illnesses, 6 months for cruciate ligament
  • Covers accidents and certain conditions
    The conditions this policy covers includes ingestion of foreign objects or poisons, gastric dilation volvulus (GDV), Hip replacement & hip dysplasia, and cancer.  You can read the full list on the Medibank website.
  • Sub Limits
    Certain conditions and treatments have lower annual payment limits.  They include cruciate ligament ($2,600), paralysis tick ($1,200), emergency boarding ($800), and hip replacement ($4,000).

The Emergency Pet Care plans is a great choice for consumers who want an affordable policy.  It covers your pet again some very common accidents and illnesses that can be expensive to treat.

What Conditions and Treatments Aren't Covered?


Medibank pet insurance has a fairly short list of exemptions, including:

  • Dental care
    Most Australian pet insurance plans don’t cover dental care for your pet, Medibank is no exception.
  • Pre-existing conditions
    Any condition or symptoms that your pet had prior to purchasing the policy will not be covered.
  • Day-to-day care
    Things like prescription foods, grooming and bathing, and most preventative treatments are not covered (depending on the policy).
  • Certain treatments
    This policy will not cover conditions resulting from behavioural problems.  It also won’t cover cell-replacement therapies or any treatment option not recommended by your vet.  
  • Elective procedures
    Elective procedures including debarking and cosmetic procedures are not covered.

Why Choose Medibank Pet Insurance?

Here are just a few good reasons for choosing Medibank pet insurance.

  • Medibank customers receive a 10% discount
    If you already have Medibank health insurance, you can obtain a 10% discount
  • Medibank has an excellent reputation
    Medibank is one of Australia’s largest health insurance companies.  It has built an excellent reputation over the years and it is a business you can trust.
  • High annual benefit limits
    The Ultimate Pet Care plan has a very high annual benefit limit.  This helps to protect your pet against serious health problems.
  • Flexible excesses
    Having multiple excess options helps you tailor the plan to your requirements.
  • Multiple pet discounts
    You will receive a 5% discount for each additional pet you enrol.
  • Excellent routine and preventative care coverage
    The ultimate plan helps you pay for the costs of many additional treatments.  They include things like vaccinations, de-sexing, teeth cleaning, and preventative medications.  Although it is only a small amount of money each year, it can be quite useful.

Medibank

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