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Retirement Visa and Health Insurance

Retirement Visa and Health Insurance

Old Jul 26th 2005, 8:59 am
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Default Retirement Visa and Health Insurance

My parents are looking to come out to Oz with us on a retirement visa. Could anybody let me know what the cost of private health insurance is for a couple. I understand that on a retirement visa you are not entitled to Medicare. Is there anything that private health insurance does not cover?
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Old Jul 26th 2005, 9:02 am
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Default Re: Retirement Visa and Health Insurance

Originally Posted by cybie
My parents are looking to come out to Oz with us on a retirement visa. Could anybody let me know what the cost of private health insurance is for a couple. I understand that on a retirement visa you are not entitled to Medicare. Is there anything that private health insurance does not cover?

Do you know that the retirement visa changed in this year. The requirements have changed and I think you need a larger sum of capital.
My parents have a retirement visa and I'm sure their health insurance is about £1000 a year and I am pretty sure it includes everything. If you want any more info I can find out the exact details for you.

carolyn
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Old Jul 26th 2005, 9:23 am
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Default Re: Retirement Visa and Health Insurance

carolyn,

I know the visa has changed (yet more money needed) but I dont quite understand the quote off their website

"must make a minimum designated investment (DI) in the Queensland Treasury Corporation of:

A$750,000 for a first or initial visa, if intending to live in a non-regional or non low growth area; and A$500,000 for a second or further visa, if the remaining in a non-regional or non low growth area;
OR
A$500,000 for a first or initial visa, if intending to live in a regional or low growth area; and A$250,000 for a second or further visa, if remaining in a regional or low growth area;

for grant of the initial visa only, applicants must provide evidence of assets that can be used to establish a lifestyle in Queensland. Those assets, (combined with assets of the spouse), must provide a minimum of:

A$750,000 if intending to live in a non-regional or non low growth area;
OR
A$500,000 if intending to live in a regional or low growth area;

must provide evidence of an annual income stream based on capital for investment, pension rights or both pension rights and capital for investment (which if combined with that of spouse), provides a minimum of:

$65,000 if intending to live in a non-regional or non-low growth area;
OR
$50,000 if intending to live in a regional or low growth area."


Did your parents have to give A$700,000 to the government and also have the same again in a bank account for themselves as well as A$65,000 income?
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Old Jul 26th 2005, 10:48 am
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Default Re: Retirement Visa and Health Insurance

Originally Posted by cybie
carolyn,

I know the visa has changed (yet more money needed) but I dont quite understand the quote off their website

"must make a minimum designated investment (DI) in the Queensland Treasury Corporation of:

A$750,000 for a first or initial visa, if intending to live in a non-regional or non low growth area; and A$500,000 for a second or further visa, if the remaining in a non-regional or non low growth area;
OR
A$500,000 for a first or initial visa, if intending to live in a regional or low growth area; and A$250,000 for a second or further visa, if remaining in a regional or low growth area;

for grant of the initial visa only, applicants must provide evidence of assets that can be used to establish a lifestyle in Queensland. Those assets, (combined with assets of the spouse), must provide a minimum of:

A$750,000 if intending to live in a non-regional or non low growth area;
OR
A$500,000 if intending to live in a regional or low growth area;

must provide evidence of an annual income stream based on capital for investment, pension rights or both pension rights and capital for investment (which if combined with that of spouse), provides a minimum of:

$65,000 if intending to live in a non-regional or non-low growth area;
OR
$50,000 if intending to live in a regional or low growth area."


Did your parents have to give A$700,000 to the government and also have the same again in a bank account for themselves as well as A$65,000 income?
Hi again

My parents got the visa before it changed so I think the requirements were slightly less. I know that they didn't have to actually 'give' anything in terms of bonds and things. They just had to give evidence of a certain amount of money. Try putting the question on the Immigration section of the forum - you might get more response.
All the best
Carolyn
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Old Jul 26th 2005, 11:11 am
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Default Re: Retirement Visa and Health Insurance

Originally Posted by cybie
My parents are looking to come out to Oz with us on a retirement visa. Could anybody let me know what the cost of private health insurance is for a couple. I understand that on a retirement visa you are not entitled to Medicare. Is there anything that private health insurance does not cover?
Hi,

If you find out any answers please can you let me know as well. I am hoping my parents will move out to Oz with us and like you am finding it hard to understand what their options are. I didn't realise the amount of money went up, I for some reason thought it went down.

Big Thanks
Janine
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Old Jul 26th 2005, 11:14 am
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Default Re: Retirement Visa and Health Insurance

Originally Posted by Ninijon
Hi,

If you find out any answers please can you let me know as well. I am hoping my parents will move out to Oz with us and like you am finding it hard to understand what their options are. I didn't realise the amount of money went up, I for some reason thought it went down.

Big Thanks
Janine
Janine,

If your parents meet the balance of family means test you can get a parent visa once you have got citizenship (2 years). Unfortunately mine don't so as far as I am aware the retirement visa is the only other option. I wanted a permanent visa for them since they will be staying with me rather than temporary.

Lorraine
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Old Jul 26th 2005, 11:17 am
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Default Re: Retirement Visa and Health Insurance

Originally Posted by cybie
Janine,

If your parents meet the balance of family means test you can get a parent visa once you have got citizenship (2 years). Unfortunately mine don't so as far as I am aware the retirement visa is the only other option. I wanted a permanent visa for them since they will be staying with me rather than temporary.

Lorraine
Hi Lorraine,

What does that mean exactly. I have a sister, but she lives in America, so am I right in assuming that because half their family is living in Australia they can get access once we are citizens in 2 years? Do you know how long that takes and if they can come for holidays in the mean time?

Thanks for your help
Janine
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Old Jul 26th 2005, 12:43 pm
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Default Re: Retirement Visa and Health Insurance

Our insurance (Overseas Visitor for those on retirement visa) with Medibank Private costs $5000 per annum. It includes dentists and opticians and all possible extras.
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Old Jul 26th 2005, 12:47 pm
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Default Re: Retirement Visa and Health Insurance

Originally Posted by Ninijon
Hi Lorraine,

What does that mean exactly. I have a sister, but she lives in America, so am I right in assuming that because half their family is living in Australia they can get access once we are citizens in 2 years? Do you know how long that takes and if they can come for holidays in the mean time?

Thanks for your help
Janine

Look at the information on the Contributory Parent visa on the DIMIA website. This will answer your questions.

If they are British citizens they can (normally) easily visit for up to 3 months on an ETA. They can't move to Australia as tourists, however.


Jeremy
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