private health insurance, is it worth taking it.
Apr 24th 2007, 1:56 am
#1
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private health insurance, is it worth taking it.
Hi
been here now almost 7 weeks, and we are still trying to move to the new house, sorting jobs & everything, is it better to take private health insurance now, for things like dentist, optical now, or should we wait.
the problem is they are so expensive & the return on the them per annum isnt much, so which is the best take, we are so confuse, can any of you who has the private health insurance would recommend it, or would it be better if we put aside $200 a month, and use that money as we need it.
its for family of five.
many thanks for all your advise.
farideh
been here now almost 7 weeks, and we are still trying to move to the new house, sorting jobs & everything, is it better to take private health insurance now, for things like dentist, optical now, or should we wait.
the problem is they are so expensive & the return on the them per annum isnt much, so which is the best take, we are so confuse, can any of you who has the private health insurance would recommend it, or would it be better if we put aside $200 a month, and use that money as we need it.
its for family of five.
many thanks for all your advise.
farideh
Apr 24th 2007, 2:00 am
#2
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Joined: Aug 2006
Location: WA but NOT Perth!!!!!
Posts: 3,318
Re: private health insurance, is it worth taking it.
I have had this dilemma myself many times, before and after taking private insurance.
Someone told me to look on it for the future, when you get older chances are you'll need to use it more than now and it's also less likely you'll get taken on as a new customer, plus if you've got existing health conditions by that time they wouldnt be covered.
I dont know, it is a lot of money but that's insurance I guess, you have to pay for it but hope never to use it...
Someone told me to look on it for the future, when you get older chances are you'll need to use it more than now and it's also less likely you'll get taken on as a new customer, plus if you've got existing health conditions by that time they wouldnt be covered.
I dont know, it is a lot of money but that's insurance I guess, you have to pay for it but hope never to use it...
Apr 24th 2007, 2:03 am
#3
has lost The Game
Joined: Apr 2005
Location: Chippendale, Sydney
Posts: 8,735
Re: private health insurance, is it worth taking it.
Hi
been here now almost 7 weeks, and we are still trying to move to the new house, sorting jobs & everything, is it better to take private health insurance now, for things like dentist, optical now, or should we wait.
the problem is they are so expensive & the return on the them per annum isnt much, so which is the best take, we are so confuse, can any of you who has the private health insurance would recommend it, or would it be better if we put aside $200 a month, and use that money as we need it.
its for family of five.
many thanks for all your advise.
farideh
been here now almost 7 weeks, and we are still trying to move to the new house, sorting jobs & everything, is it better to take private health insurance now, for things like dentist, optical now, or should we wait.
the problem is they are so expensive & the return on the them per annum isnt much, so which is the best take, we are so confuse, can any of you who has the private health insurance would recommend it, or would it be better if we put aside $200 a month, and use that money as we need it.
its for family of five.
many thanks for all your advise.
farideh
If not, then I'm not sure it's really worth taking the extras package, as the benefits seem to be so small compared with the cost of the treatments.
Personally, I took the cheapest, most basic cover I could - ambulance and hospital with HCF. It's $36 a month, and if nothing else allows me to pay my medicare extra levy in monthly installments instead of all in one go.
S
Apr 24th 2007, 2:10 am
#4
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Re: private health insurance, is it worth taking it.
In my experience, if you want or have children, then it may be worth taking a policy that covers you for those extras, as quite a bit of childs stuff often comes free - for instance 2 free dental check ups etc.
If not, then I'm not sure it's really worth taking the extras package, as the benefits seem to be so small compared with the cost of the treatments.
Personally, I took the cheapest, most basic cover I could - ambulance and hospital with HCF. It's $36 a month, and if nothing else allows me to pay my medicare extra levy in monthly installments instead of all in one go.
S
If not, then I'm not sure it's really worth taking the extras package, as the benefits seem to be so small compared with the cost of the treatments.
Personally, I took the cheapest, most basic cover I could - ambulance and hospital with HCF. It's $36 a month, and if nothing else allows me to pay my medicare extra levy in monthly installments instead of all in one go.
S
is that what they mean, and most them say, it only covers you 60%, so you still have to pay 40%.
Apr 24th 2007, 2:17 am
#5
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Joined: Dec 2003
Location: Adelaide - South Australia
Posts: 1,820
Re: private health insurance, is it worth taking it.
we looked at so many, the first year you cant make claim for anything big, only for cheap stuff, and it doesnt work like UK, so what is this GAP thing, you pay so much a month, and if you go over your premium you have to pay the difference.
is that what they mean, and most them say, it only covers you 60%, so you still have to pay 40%.
is that what they mean, and most them say, it only covers you 60%, so you still have to pay 40%.
Apr 24th 2007, 2:21 am
#6
has lost The Game
Joined: Apr 2005
Location: Chippendale, Sydney
Posts: 8,735
Re: private health insurance, is it worth taking it.
we looked at so many, the first year you cant make claim for anything big, only for cheap stuff, and it doesnt work like UK, so what is this GAP thing, you pay so much a month, and if you go over your premium you have to pay the difference.
is that what they mean, and most them say, it only covers you 60%, so you still have to pay 40%.
is that what they mean, and most them say, it only covers you 60%, so you still have to pay 40%.
As far as I can see, these policies cover you for very little. The girl with whom I work has just had her husband diagnosed with a ruptured ligament in his back. They pay for top health cover, and yet none of the care that he needs is covered. So they have had to pay for consultations, and looks like they will have to pay for the surgery too.
I wasn't happy about the one that I took out, and as far as I could see, the extras cover seemed to be pretty much worthless.
Shop around, and have a look for different covers. As the previous poster says, if you earn over $50k individually, or over $100k as a family, then you become eligible for another 1% on your marginal tax rate.
S
Apr 24th 2007, 2:44 am
#7
Mozzie magnet
Joined: Jan 2004
Location: Brisbane 'burbs
Posts: 1,690
Re: private health insurance, is it worth taking it.
In my case, I took out one of the most basic options to bypass having to pay the medicare levy surcharge (as I earn over $50k). The premium is less than the levy. Plus, if I use it towards getting new contact lenses for example (which I have to have, no choice in the matter unfortunately!) I can claim some of the cost of the lenses (or dental care, etc) back. So I estimate I'll save $500 over the year, based on not having to pay the levy, taking into account the premium, and claiming back costs of lenses etc.
For a family, is it worth it? Depends how accident prone your children are! The public health system here is fine, in my opinion. The gap system means that even with private health care, you will probably have to meet some of the costs of going private. If you use the public health system, you'll probably still have to meet some costs that medicare won't cover.
Wrap your kids in cotton wool and keep them confined to their beds. That's the only sure fire guarantee of not ending up with any medical costs in Australia.
For a family, is it worth it? Depends how accident prone your children are! The public health system here is fine, in my opinion. The gap system means that even with private health care, you will probably have to meet some of the costs of going private. If you use the public health system, you'll probably still have to meet some costs that medicare won't cover.
Wrap your kids in cotton wool and keep them confined to their beds. That's the only sure fire guarantee of not ending up with any medical costs in Australia.
Apr 24th 2007, 6:26 am
#8
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Joined: Jan 2004
Location: Halls Head, WA
Posts: 4,146
Re: private health insurance, is it worth taking it.
This is the dilemma we're currently facing. I think we have decided to take out the minimum cover to avoid the levy but leave it at that.
I am facing a dentist bill of $3k to $10k for a bridge or an implant and crowns are over $1k, I've priced up policies for a family of 4 and it's approx $188 per month all in. This totals $2,256 per annum yet I can only claim $400 in the second year of the policy towards major dental work. We are going to put $200 into an account every month which is never touched unless needed for medical/dental stuff, hopefully this should serve us better. We're not a sick family and Medicare itself is pretty good and, from what I understand, you could have two people with the identical illness treated identically one private one state and the private one could be more out of pocket because of the way some policies work.
I may well change my mind later on, but if we put away $2,256 pa that will soon mount up if it's untouched.
I am facing a dentist bill of $3k to $10k for a bridge or an implant and crowns are over $1k, I've priced up policies for a family of 4 and it's approx $188 per month all in. This totals $2,256 per annum yet I can only claim $400 in the second year of the policy towards major dental work. We are going to put $200 into an account every month which is never touched unless needed for medical/dental stuff, hopefully this should serve us better. We're not a sick family and Medicare itself is pretty good and, from what I understand, you could have two people with the identical illness treated identically one private one state and the private one could be more out of pocket because of the way some policies work.
I may well change my mind later on, but if we put away $2,256 pa that will soon mount up if it's untouched.
Apr 24th 2007, 6:39 am
#9
has lost The Game
Joined: Apr 2005
Location: Chippendale, Sydney
Posts: 8,735
Re: private health insurance, is it worth taking it.
This is the dilemma we're currently facing. I think we have decided to take out the minimum cover to avoid the levy but leave it at that.
I am facing a dentist bill of $3k to $10k for a bridge or an implant and crowns are over $1k, I've priced up policies for a family of 4 and it's approx $188 per month all in. This totals $2,256 per annum yet I can only claim $400 in the second year of the policy towards major dental work. We are going to put $200 into an account every month which is never touched unless needed for medical/dental stuff, hopefully this should serve us better. We're not a sick family and Medicare itself is pretty good and, from what I understand, you could have two people with the identical illness treated identically one private one state and the private one could be more out of pocket because of the way some policies work.
I may well change my mind later on, but if we put away $2,256 pa that will soon mount up if it's untouched.
I am facing a dentist bill of $3k to $10k for a bridge or an implant and crowns are over $1k, I've priced up policies for a family of 4 and it's approx $188 per month all in. This totals $2,256 per annum yet I can only claim $400 in the second year of the policy towards major dental work. We are going to put $200 into an account every month which is never touched unless needed for medical/dental stuff, hopefully this should serve us better. We're not a sick family and Medicare itself is pretty good and, from what I understand, you could have two people with the identical illness treated identically one private one state and the private one could be more out of pocket because of the way some policies work.
I may well change my mind later on, but if we put away $2,256 pa that will soon mount up if it's untouched.
Since I arrived, I've unfortunately ended up having to have 2 lots of emergency surgery (don't ask), and I've been really impressed with the way that it's all been handled. I know that medical is differnet to dental, in that Medicare picks up a fair bit, but I've had no complaints. The specialist who is looking after me has even given me his mobile number incase I get sick again/need to talk/fancy a beer. I don't think that would have happened on the NHS.
As for your dental, have you considered going and getting it done in Hungary or similar? For $10k you could have a nice family trip around Eastern Europe and get your teeth fixed too...
Just a thought...
S
Apr 24th 2007, 6:50 am
#10
A former regular of BE
Joined: Oct 2004
Location: Carramar, Perth
Posts: 6,241
Re: private health insurance, is it worth taking it.
If you earn (or expect to anytime soon) > $100K as a couple or $50K as a single then it is a no-brainer. Take out the cover as you will be taxed nearly as much as the premiums in the Medicare surcharge (1.5% I think) if you do not.
If you think you are likely to want cover in the near future then sign up before you have been here 12 months otherwise they add 2% to the premium when you do join for every year you are over 30. So if you are 40 that is 20% extra every year (about $500 per year) for about 20-25 years ($10,000+). Over the rest of your life it is a good investment to pay for it for a couple of years now to save that in the long-term.
Otherwise - can you cope with large unexpected bills? Do you feel indestructible? Are you one of those people that never get ill? Are you lucky?
If you think you are likely to want cover in the near future then sign up before you have been here 12 months otherwise they add 2% to the premium when you do join for every year you are over 30. So if you are 40 that is 20% extra every year (about $500 per year) for about 20-25 years ($10,000+). Over the rest of your life it is a good investment to pay for it for a couple of years now to save that in the long-term.
Otherwise - can you cope with large unexpected bills? Do you feel indestructible? Are you one of those people that never get ill? Are you lucky?
Apr 24th 2007, 9:24 am
#11
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Joined: Feb 2007
Posts: 1,905
Re: private health insurance, is it worth taking it.
Hello,
I would second the dentist treatment in Europe. The medical treatment in Prague is good, and way cheaper!
Tourists coming for cosmetic treatment and dentistry and those who want cosmetic dentistry is booming here!
*Anyone recommend a good ambulance cover? As I read on another forum that some of the private ones have hidden clauses. E.g that if you go by ambulance for something but not staying in hospital your not covered.(e.g arrive get cast on and let out an hour later) They said St Johns Ambulance covers everything but cant find info on it.
Anyone know a good ambulance cover that will cover rural areas?
Gems
I would second the dentist treatment in Europe. The medical treatment in Prague is good, and way cheaper!
Tourists coming for cosmetic treatment and dentistry and those who want cosmetic dentistry is booming here!
*Anyone recommend a good ambulance cover? As I read on another forum that some of the private ones have hidden clauses. E.g that if you go by ambulance for something but not staying in hospital your not covered.(e.g arrive get cast on and let out an hour later) They said St Johns Ambulance covers everything but cant find info on it.
Anyone know a good ambulance cover that will cover rural areas?
Gems
Apr 24th 2007, 9:34 am
#12
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Thread Starter
Joined: Feb 2006
Location: In an ice box
Posts: 2,969
Re: private health insurance, is it worth taking it.
If you earn (or expect to anytime soon) > $100K as a couple or $50K as a single then it is a no-brainer. Take out the cover as you will be taxed nearly as much as the premiums in the Medicare surcharge (1.5% I think) if you do not.
If you think you are likely to want cover in the near future then sign up before you have been here 12 months otherwise they add 2% to the premium when you do join for every year you are over 30. So if you are 40 that is 20% extra every year (about $500 per year) for about 20-25 years ($10,000+). Over the rest of your life it is a good investment to pay for it for a couple of years now to save that in the long-term.
Otherwise - can you cope with large unexpected bills? Do you feel indestructible? Are you one of those people that never get ill? Are you lucky?
If you think you are likely to want cover in the near future then sign up before you have been here 12 months otherwise they add 2% to the premium when you do join for every year you are over 30. So if you are 40 that is 20% extra every year (about $500 per year) for about 20-25 years ($10,000+). Over the rest of your life it is a good investment to pay for it for a couple of years now to save that in the long-term.
Otherwise - can you cope with large unexpected bills? Do you feel indestructible? Are you one of those people that never get ill? Are you lucky?
for extra covers without hospital cover, medibank was offering no 2 or 6 months waiting for $65 per month, children are free as long as they are in full time educations.
Mutual Community was offering it for $105 with all the waiting time, but if you did take the hospital cover, which end just under $300 a month.
However she said if we were in Private health insurance back in UK, we dont have to wait at all we go to year 2, & can use everything.
so we were with HSA, & that was on her list.
I still have to check with HSA, not sure if that would cover us for private hospitals over here.
so confusing.
Apr 24th 2007, 9:38 am
#13
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Joined: Aug 2006
Location: WA but NOT Perth!!!!!
Posts: 3,318
Re: private health insurance, is it worth taking it.
St John Ambulance cover should cover you all over Australia (recently discovered this on a first aid course run by them)
Also, it covers you for any ambulance use, so even if you have private insurance it's worth taking as unless you are actually admitted into hospital the private won't necessarily cover it (again recently learned that!)
Also, it covers you for any ambulance use, so even if you have private insurance it's worth taking as unless you are actually admitted into hospital the private won't necessarily cover it (again recently learned that!)
Apr 24th 2007, 9:43 am
#14
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Thread Starter
Joined: Feb 2006
Location: In an ice box
Posts: 2,969
Re: private health insurance, is it worth taking it.
St John Ambulance cover should cover you all over Australia (recently discovered this on a first aid course run by them)
Also, it covers you for any ambulance use, so even if you have private insurance it's worth taking as unless you are actually admitted into hospital the private won't necessarily cover it (again recently learned that!)
Also, it covers you for any ambulance use, so even if you have private insurance it's worth taking as unless you are actually admitted into hospital the private won't necessarily cover it (again recently learned that!)
Apr 24th 2007, 10:11 am
#15
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Joined: Jan 2007
Location: Western Australia
Posts: 455
Re: private health insurance, is it worth taking it.
Hi
I'm not yet at this stage but maybe in 3 months or so.
Can someone tell what Medicare covers and what is/are not covered?. Also when taking out private insurance what is/are covered or not...Any suggestion on those insurance companies...
.
I'm not yet at this stage but maybe in 3 months or so.
Can someone tell what Medicare covers and what is/are not covered?. Also when taking out private insurance what is/are covered or not...Any suggestion on those insurance companies...
.