Public (Medicare) Versus Private Healthcare
Dec 21st 2003, 8:17 pm
#1
Thread Starter
Joined: Aug 2003
Posts: 11,149
Public (Medicare) Versus Private Healthcare
Something that I have not seen here is some facts on what Medicare covers and whether private health insurance is needed. Is Medicare as comprehensive as the NHS? Is private health insurance value for money?
What are the odds Montfort will end up in this thread as well? They will want those brokerage fees.
What are the odds Montfort will end up in this thread as well? They will want those brokerage fees.
Dec 21st 2003, 8:30 pm
#3
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cheers for those links bondi, we have been meaning to look in to this for a while.
Dec 22nd 2003, 5:28 am
#4
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I've been thinking about getting a quote on private medical cover again, and did so when I saw those links.
Based on what I think i would need, the premium came to $2,500, and I calculate that I would claim a maximum of about $1,500 back for normal things. So the other $1,000 would be Insurance for the Emergency things.
However, I had an accident once, and needed 10 weeks in hospital, including 1 week in Intensive care. It cost me nothing, covered under medicare, and was very good quality of care. I didn't get a private room of course, but then again I wasn't lonely either
I'm still not sure that Private cover is worth while for ME.
Based on what I think i would need, the premium came to $2,500, and I calculate that I would claim a maximum of about $1,500 back for normal things. So the other $1,000 would be Insurance for the Emergency things.
However, I had an accident once, and needed 10 weeks in hospital, including 1 week in Intensive care. It cost me nothing, covered under medicare, and was very good quality of care. I didn't get a private room of course, but then again I wasn't lonely either
I'm still not sure that Private cover is worth while for ME.
Dec 22nd 2003, 5:50 am
#5
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Joined: May 2003
Location: The Green behind the Gold
Posts: 885
I've spent a little time on their calculator. For what looks like a basic service it costs about A$1000 p.a. for a family. They didn't ask how many kids we have and it's not clear what this offers in contrast to just medicare. Frustrating.
I'm also concerned about reports I read earlier this year that the longer you delay taking out private insurance after you turn 30, the more you pay for the rest of your life ... and they don't care if you arrive in Aus for the first time at 40.
I'm also concerned about reports I read earlier this year that the longer you delay taking out private insurance after you turn 30, the more you pay for the rest of your life ... and they don't care if you arrive in Aus for the first time at 40.
Dec 22nd 2003, 6:05 am
#6
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Remember also that if you spend more than $1500 per year on Medical Expenses, you are able to claim back 20% of the excess above the $1500 threshold.
Tax Office Link
Im not sure about the medicare private calculator, I checked prices as "Family" and "Couple" and got the same prices.
I'll get a brochure from the medicare office next time I go near one.
Tax Office Link
Im not sure about the medicare private calculator, I checked prices as "Family" and "Couple" and got the same prices.
I'll get a brochure from the medicare office next time I go near one.
Dec 22nd 2003, 8:14 am
#7
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Joined: Jun 2003
Location: Sydney beachside
Posts: 3,505
If you earn over a certain amount (around $70000 per annum - can't be precise) and you DONT have a basic Private Hospital cover, then you pay 2.5% Medicare Levy instead of 1.5%.
Work out what 1% of your taxable income is and if that's more than the Health Insurance premiums, then you're better off getting the cover. That's what persuaded us to get it!
Work out what 1% of your taxable income is and if that's more than the Health Insurance premiums, then you're better off getting the cover. That's what persuaded us to get it!
