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Medical Insurance, yes or no with who

Medical Insurance, yes or no with who

Old Apr 6th 2010, 11:57 am
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Default Medical Insurance, yes or no with who

We are hoping to move to OZ, but we are getting worried about Private Medical Insurance, its another expense but is it necessary.
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Old Apr 6th 2010, 1:06 pm
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Default Re: Medical Insurance, yes or no with who

Originally Posted by fresno.36 View Post
We are hoping to move to OZ, but we are getting worried about Private Medical Insurance, its another expense but is it necessary.
Welcome to BE.

I'll move your thread to our Australia forum...the people who post in there will probably be able to help you. Good luck with the move.
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Old Apr 6th 2010, 1:23 pm
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Default Re: Medical Insurance, yes or no with who

It depends. We've had brilliant service via Medicare for various things both emergency and ongoing and had no costs at all. Others prefer the safety of having the insurance in case something happens for which there would be a delay for treatment - this all depends on what the treatment is and where you are (no different from the NHS in that respect).

However if you earn over a certain amount (not sure of current figures) you have to pay extra tax if you don't have private cover. Also sometimes if you do use the private, you can get hammered with the gap fees which are the difference between the Medicare cost and the private so you could end up out of pocket big time.

We only have extras cover which is just for some dental, optical and various other things like physio etc. At the moment I think we are getting more out than we put in but that's not a given, nor even likely most of the time.
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Old Apr 6th 2010, 1:57 pm
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Smile Re: Medical Insurance, yes or no with who

Hi, moneypenny20, as OAP's, the stress of something happening healthwise will be a constant worry, so to take the best route now will ease our fears. To decide on an Insurance Company what's the best way to find out.( Thanks for getting back to me so quick). :
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Old Apr 6th 2010, 10:33 pm
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Default Re: Medical Insurance, yes or no with who

www.iselect.com is a good starting point - it doesnt have all the possible options but it has a good range and will give you a baseline. We have been quite happy with HCF over the years. You have up to a year to decide whether to get private cover before the age loading on premiums comes into play (premiums increase for every year over 30 you are)
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Old Apr 6th 2010, 10:35 pm
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Default Re: Medical Insurance, yes or no with who

Originally Posted by fresno.36 View Post
We are hoping to move to OZ, but we are getting worried about Private Medical Insurance, its another expense but is it necessary.
It also depends on what type of visa you are coming on as this will have a significant impact on the cost.

Another consideration is do you have private medical cover in the UK? If yes then you will probably want it here but if no then I wouldn't bother, certainly from the outset if money is tight. (unless you are on a high income as MP said) The cost of moving overseas can be considerable and for the first few months you feel like you are haemorrhaging money so any small saving you can make before you get a real idea as to income and outgoings all the better.
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Old Apr 6th 2010, 10:38 pm
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Default Re: Medical Insurance, yes or no with who

The definitive site for all available health insurance policies available in Australia is www.privatehealth.gov.au

You can do a search for the type of policy you may be interested in and it will list all available policies - not just the ones that pay iselect to sell for them.

Good luck.

I can personally recommend www.cdhbf.com.au

Cheers.
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Old Apr 7th 2010, 2:59 am
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Default Re: Medical Insurance, yes or no with who

For us the fact that we would have to pay the 1% "medicare loading" as OHs salary is over the threshold was the decider. We went with HBA purely because they offer "no gap cover" dental for kids so even if we don't use it for anything other than our three kids' dental costs for the year we're much better off having it. Do be careful though and make sure you know what is covered - I got seriously stung by not really understanding that NO hospital outpatient treatment is covered. A trip to the A&E at a private hospital left me with bills of around $700; if I had been admitted most of it would have been covered.
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Old Jul 19th 2010, 6:53 am
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Default Re: Medical Insurance, yes or no with who

Hi, to all who came back to me ref' Medical Insurrance, sorry I'm late with a thank you for your replies, but I have been counting the money I havn't got for our move to OZ, Thanks again.
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Old Jul 19th 2010, 7:06 am
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Default Re: Medical Insurance, yes or no with who

Originally Posted by Hebe View Post
Another consideration is do you have private medical cover in the UK? If yes then you will probably want it here but if no then I wouldn't bother
Insurance is insurance, don't pay or pay but it might come back to bite you. Don't forget if you earn anything but a low wage you'll need to pay the levy so it's better to have it anyhow.
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Old Jul 19th 2010, 7:31 am
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Default Re: Medical Insurance, yes or no with who

Originally Posted by coolshadows View Post
Insurance is insurance, don't pay or pay but it might come back to bite you. Don't forget if you earn anything but a low wage you'll need to pay the levy so it's better to have it anyhow.
Yep, earn over $146,000 per year for couples and families, and you are up for the 1% Medicare Levy Surcharge, unless you have qualifying insurance.
 
Old Jul 19th 2010, 8:12 am
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Default Re: Medical Insurance, yes or no with who

I'm generally against private medical insurance but I need to get my wisdom teeth taken out which over here costs around $1500 - 2000 so far as I can make out.

I was considering signing up to private insurance, getting them to cover the cost of the wisdom teeth and then dropping the policy. Is this feasible?
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Old Jul 20th 2010, 2:24 am
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Default Re: Medical Insurance, yes or no with who

Originally Posted by JoeBloggs80 View Post
I was considering signing up to private insurance, getting them to cover the cost of the wisdom teeth and then dropping the policy. Is this feasible?
A. the insurance might not cover dental work and b. there might be a waiting period.
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Old Jul 20th 2010, 11:22 pm
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Default Re: Medical Insurance, yes or no with who

Likely to be at least 6 months wait period before you can claim
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Old Jul 20th 2010, 11:28 pm
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Default Re: Medical Insurance, yes or no with who

Originally Posted by ABCDiamond View Post
Yep, earn over $146,000 per year for couples and families, and you are up for the 1% Medicare Levy Surcharge, unless you have qualifying insurance.
Yep PHI is generally best supported for having to avoid the Medicare Levy Surcharge

http://www.ato.gov.au/individuals/co....htm&page=4&H4

if you earn of $73k pa or your family earns over 146k/pa then if 1.5% of that taxed or as a minimum $1095 per person per year extra tax. This normally covers most peoples PHI premium. If you earn more you pay more so PHI becomes a tax savings in the end.
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