Nov 24 2010

Private Medical Insurance

18 common questions on private medical insurance

  1. Why do I need Health Insurance?
  2. What is the Federal Gov. 30% Rebate?
  3. What is the Medicare Levy Surcharge?
  4. Can someone else manage my policy for me?
  5. How long will my kids be covered?
  6. What is a Membership Summary?
  7. What if I become unemployed?
  8. What if I live outside WA?
  9. What is Lifetime Health Cover?
  10. Can I save money by using Direct Debit?
  11. What are Standard Information Statements?
  12. What is the Medical Gap?
  13. State of the Health Funds Report
  14. What are waiting periods?
  15. Why isn’t there a ‘no claim’ bonus for health?
  16. Have you recently moved to Australia?
  17. Do I have to use my private health insurance in a public hospital?
  18. Going overseas for more than two months?

I found these questions at www.hbf.com.au/Health/Things_worth_knowing and the answers are all available on that web page.

The topic “Medicare Levy Surcharge”, has been covered by me at www.britzinoz.com/page.php?206, but for ease of reference, the current details are:

In the 2010/2011 financial year, if you earn more than $77,000 as a single or $154,000 as a family and you don’t have private hospital cover, you will incur an additional 1% Medicare Levy Surcharge.
This is in addition to the normal 1.5% Medicare Levy.
So for example if you earn $80,000 as a single and you don’t have private hospital cover, you will incur a $800 Medicare Levy Surcharge bill at tax time.

By taking out a qualifying Hospital Cover, you could avoid the 1% surcharge and save yourself or your family money.

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  1. michelle black

    i was wondering on the health care i would need as i suffer from depression and high cholesteral and take the following medication
    i also see a psychiatrist every 3mths
    can you please supply me with some information on what i may require in insurance and any others

    1. ABCDiamond

      On the medication side, some prices examples, for Permanent Residents, are:
      $13.50 Lithicarb 250mg Tablets 200
      $13.99 Paroxetine Sandoz 20mg Tablets 30 (Paroxetine is known by the trade names Aropax, Paxil, Seroxat, Sereupin)
      $34.20 Lipitor 80mg Tablets 30 (Atoravastatin is known by trade names: Caduet, Lipitor)

      With Private Insurance, many insurers exclude existing conditions for the initial period. You may need to check with a few insurers to see which has the shorter exclusion period, and which one will cover the largest percentage of specialists bills for your particular concern.

      A couple of links that may be of interest:

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