Private Health Insurance - Who do you use for your provider?
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Private Health Insurance - Who do you use for your provider?
Turning 30 this year, and am looking to take out some Private Health Insurance now as to minimise the age loading penalty. Just wondering who to use for my provider to make maximum use/benefit of the money I would be paying. Typical scenario of single and healthy.
Who do you guys and gals use and why?
Who do you guys and gals use and why?
Defence Health as well for me, only recently signed up.
Further to NFR's post, you only have to be working for a defence contractor so perhaps you can find a loophole somewhere. Not just for military, ex-military.
TL
Further to NFR's post, you only have to be working for a defence contractor so perhaps you can find a loophole somewhere. Not just for military, ex-military.
TL
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Couple o' things:
1. If you are under 30, healthy, and parcipitate in any active sports, and unless your employer provides the cover at a much reduced rate, then you really don't need private. (remember serious accidents and any tirage, casualty is carried by the public sector and not the fund provider you have paid)
Over 30, or really 31 , then you need to take into account of the tax penalties.
2. Read the policy, or the Product Disclosure Statement (PDS) at least two to three times, and match it to what your expectation is.
3. Don't be put off by skimping on the excess, check hospital cover, ambulance and re-patriation, and especially outpatient consultancy benefits - these are often worded in such a vague way in the PDS as to exclude by default.
4. Read the PDS again.
5. If you have any doubts as to the cover, get it in writing, talking to call centre joan or jonnie in Hobart (soon to be Bangalore) is not going to cover you if you have mis-understood your cover.
6. Pay by month, that way if you are unhappy you can stop the payments, or delay them, in effect bringing a small but meagre financial clout to your dispute. (remember to state clearly that you intend to pay)
7. Work offered cover has this clout in buckets, as the fund provider will not wish to risk losing the corporate account by playing hard ball with one employee.
I learned this the hard way, and also recently by working for a major insurer on their system, remember the fact that just because you pay your premiums does not automatically guarantee cover, for example, a car accident where you were found to be 10% culpable could invalidate your cover, an alcohol reading (even under the limit) could also invalidate your cover.
8. Disclose everything, and I mean everything, even if you had mumps when you were 12 and measles at 14, then disclose them.
finally read the pds again.
1. If you are under 30, healthy, and parcipitate in any active sports, and unless your employer provides the cover at a much reduced rate, then you really don't need private. (remember serious accidents and any tirage, casualty is carried by the public sector and not the fund provider you have paid)
Over 30, or really 31 , then you need to take into account of the tax penalties.
2. Read the policy, or the Product Disclosure Statement (PDS) at least two to three times, and match it to what your expectation is.
3. Don't be put off by skimping on the excess, check hospital cover, ambulance and re-patriation, and especially outpatient consultancy benefits - these are often worded in such a vague way in the PDS as to exclude by default.
4. Read the PDS again.
5. If you have any doubts as to the cover, get it in writing, talking to call centre joan or jonnie in Hobart (soon to be Bangalore) is not going to cover you if you have mis-understood your cover.
6. Pay by month, that way if you are unhappy you can stop the payments, or delay them, in effect bringing a small but meagre financial clout to your dispute. (remember to state clearly that you intend to pay)
7. Work offered cover has this clout in buckets, as the fund provider will not wish to risk losing the corporate account by playing hard ball with one employee.
I learned this the hard way, and also recently by working for a major insurer on their system, remember the fact that just because you pay your premiums does not automatically guarantee cover, for example, a car accident where you were found to be 10% culpable could invalidate your cover, an alcohol reading (even under the limit) could also invalidate your cover.
8. Disclose everything, and I mean everything, even if you had mumps when you were 12 and measles at 14, then disclose them.
finally read the pds again.
Don't Encourage the MotherF^&kers
Here in the good ol' US of A my employer pays $14K per year (US dollars not Pacific Pesos) for a "First Class" service that allows you to visit a doctor.
I still get a "co-payment" of $15 to $100 when one of my rug-rats has an ear infection.
By contrast, in Singapore, I walked off the street and had a consultation and drugs for AUD$50. (Again Kid's anti-biotics)
It's total bull**** and shouldn't be put up with. This is little Johnny's vision of Health care in Australia. Where the USA has the largest government spend per capita, the lowest amount of beds available per 1000 of population and the highest private contributions on the planet!! What is wrong with this picture??
In OZ, being blessed with living in Canberra, we had all of our children on the public system (1.5% OF MY TAX) and had superb service.
Here, the only people making the money are the insurance companies (note: they are not health care companies). I fear that is where Australia is heading.
I don't actually care, because I can afford it. But the average punter is being told lies about where this is taking them and the business community will be the ones who will be the only ones left with the capacity to pay a rapacious essential service that is dominated, not by medicos, but by actuaries.
Wait! Why do I care! The majority voted for this. Let them have it.
Buy lots of insurance, with the knowledge that you will never need it if you are really sick. But you will be helping to pay the major contributors to the Liberal party's coffers.
(edited to correct spelling)
I still get a "co-payment" of $15 to $100 when one of my rug-rats has an ear infection.
By contrast, in Singapore, I walked off the street and had a consultation and drugs for AUD$50. (Again Kid's anti-biotics)
It's total bull**** and shouldn't be put up with. This is little Johnny's vision of Health care in Australia. Where the USA has the largest government spend per capita, the lowest amount of beds available per 1000 of population and the highest private contributions on the planet!! What is wrong with this picture??
In OZ, being blessed with living in Canberra, we had all of our children on the public system (1.5% OF MY TAX) and had superb service.
Here, the only people making the money are the insurance companies (note: they are not health care companies). I fear that is where Australia is heading.
I don't actually care, because I can afford it. But the average punter is being told lies about where this is taking them and the business community will be the ones who will be the only ones left with the capacity to pay a rapacious essential service that is dominated, not by medicos, but by actuaries.
Wait! Why do I care! The majority voted for this. Let them have it.
Buy lots of insurance, with the knowledge that you will never need it if you are really sick. But you will be helping to pay the major contributors to the Liberal party's coffers.
(edited to correct spelling)
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Hi all
I agree with 7gcbc, read carefully and choose carefully.
However, I am currently paying $44 per month (allot if your on Austudy) for Hospital and extras. Is it worth it, hmmmm maybe not.
There would be a total spend of 44x120 = $5280 if you take out insurance at 31 over 10 years.
Or
If you wait until about 41 (still a healthy age) to take out insurance and you were to place $44/ month into an online account @ 5.3% compounded monthly for 10 years (31- to age 41) that would be $6942.70. A difference of $1662.
You may be better off staying on the public system for a while! Maybe I might take my own advice and drop the lot!!
Ash
I agree with 7gcbc, read carefully and choose carefully.
However, I am currently paying $44 per month (allot if your on Austudy) for Hospital and extras. Is it worth it, hmmmm maybe not.
There would be a total spend of 44x120 = $5280 if you take out insurance at 31 over 10 years.
Or
If you wait until about 41 (still a healthy age) to take out insurance and you were to place $44/ month into an online account @ 5.3% compounded monthly for 10 years (31- to age 41) that would be $6942.70. A difference of $1662.
You may be better off staying on the public system for a while! Maybe I might take my own advice and drop the lot!!
Ash
Join Date: Jul 2003
Location: Australia
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MBF seam to be good,, had them for awhile, good for optical teeth, ambo, gym etc.. I got it because of Tax reasons,, why pay an extra 1.5% for medicare when u can get the good stuff with private heath insurance,, not sure what the income bracket is..
I'm with HCF and they have been pretty good so far, I only claim about once every 2 years, but its there in case i need it.I have top cover with excess and it costs me about $20 a week. That's only a few schooners.
My family has been privately insured for 40+ years, mostly with MBF. 10 years ago my mum had a kideney transplant and her daily medication costs around $30,000+ per year, of which we pay the princely sum of about $1,200.
Even though I dont need private insurance, and hopefully won't need its benifits for many years to come I pay it put of principal.
While our medical and insurance system is not perfect, its a damn sight better than many other contries. Particularly the USA.
God may bless America but thank christ for Australia.
My family has been privately insured for 40+ years, mostly with MBF. 10 years ago my mum had a kideney transplant and her daily medication costs around $30,000+ per year, of which we pay the princely sum of about $1,200.
Even though I dont need private insurance, and hopefully won't need its benifits for many years to come I pay it put of principal.
While our medical and insurance system is not perfect, its a damn sight better than many other contries. Particularly the USA.
God may bless America but thank christ for Australia.
Join Date: May 2005
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defence health
Hi
As ADF members, we are covered by our own health system and don't pay the medicare levy as prescribed persons.
Is it worthwhile still paying for private health insurance?? i am wondering whether my medibank private cover is still worth it..
Any other adf members know anything about this??
Cheers
:-)
As ADF members, we are covered by our own health system and don't pay the medicare levy as prescribed persons.
Is it worthwhile still paying for private health insurance?? i am wondering whether my medibank private cover is still worth it..
Any other adf members know anything about this??
Cheers
:-)
