nicolac34 Posted June 20, 2012 Share Posted June 20, 2012 Ok, so we're confused - probably not the first time this has been asked, so sorry if people have to repeat themselves! Basically we've been in Australia nearly a year. For this year we've had Downunder travel insurance (as we were on a WHV) which would have covered us for any medical needs should they have arisen. We haven't had to call upon it in this year, we've had GP appointments and just paid the difference between that and the medicare rebate, we've been to A&E once and didn't have to pay anything for emergency treatment and follow up physio. So, we are now wondering, do we really need to pay $200 per month for medical insurance? Not that we understand the government levy thing, but combined we earn $168k, so think we fall underneath that, so no tax benefit we can see. Any opinions would be gratefully received as we really are stumped as to what the benefits of this monthly payment would be!!:huh: Link to comment Share on other sites More sharing options...
bensdad Posted June 20, 2012 Share Posted June 20, 2012 Without it an ambulance will cost you $800 if you need it. We're with medibank and also get 70% of extras paid like dental etc. Link to comment Share on other sites More sharing options...
Guest Ptp113 Posted June 20, 2012 Share Posted June 20, 2012 Never had it and won't. We have had major ops done on both of us totally free including ambulance for my wife. Link to comment Share on other sites More sharing options...
tisme Posted June 20, 2012 Share Posted June 20, 2012 No you don't need it, it would only be of any benefit if you were going to in the future require elective surgery, as your on a WHV any medical condition that comes up in the future you can deal with when you return home, if it's an emergency you are going to be treated anyway in a public hospital. Save your money and don't bother, maybe just look into ambulance cover ONLY, have a look on the HBF website for this, about $100 a year. Link to comment Share on other sites More sharing options...
starlight7 Posted June 20, 2012 Share Posted June 20, 2012 Depends where you live- In Melbourne the waiting lists for public hospitals are long. What they class as emergency surgery is very limited so as you get older it often pays to have private insurance. I think public should really be for people who genuinely can't afford private. Link to comment Share on other sites More sharing options...
tisme Posted June 20, 2012 Share Posted June 20, 2012 Depends where you live- In Melbourne the waiting lists for public hospitals are long. What they class as emergency surgery is very limited so as you get older it often pays to have private insurance. I think public should really be for people who genuinely can't afford private. It should all be public, if EVERY cent paid in premiums for the Private sector and the medicare levies collected were combined Australia would have a world class public system for everyone to use, rich and poor. Link to comment Share on other sites More sharing options...
Rupert Posted June 20, 2012 Share Posted June 20, 2012 Ok, so we're confused - probably not the first time this has been asked, so sorry if people have to repeat themselves! Basically we've been in Australia nearly a year. For this year we've had Downunder travel insurance (as we were on a WHV) which would have covered us for any medical needs should they have arisen. We haven't had to call upon it in this year, we've had GP appointments and just paid the difference between that and the medicare rebate, we've been to A&E once and didn't have to pay anything for emergency treatment and follow up physio. So, we are now wondering, do we really need to pay $200 per month for medical insurance? Not that we understand the government levy thing, but combined we earn $168k, so think we fall underneath that, so no tax benefit we can see. Any opinions would be gratefully received as we really are stumped as to what the benefits of this monthly payment would be!!:huh: You said you were on a WHV, what are you on now? Are you planning to stay? If you are planning to stay permanently and have a path to do so, then you should consider that your salaries might increase above the threshold for paying the additional levy and if you do not sign up for private cover in your first 12 months the lifetime loading kicks in. Link to comment Share on other sites More sharing options...
nicolac34 Posted June 20, 2012 Author Share Posted June 20, 2012 You said you were on a WHV, what are you on now? Are you planning to stay? If you are planning to stay permanently and have a path to do so, then you should consider that your salaries might increase above the threshold for paying the additional levy and if you do not sign up for private cover in your first 12 months the lifetime loading kicks in. We aren't on WHV's anymore, we are on the 857 PR so will be here for the forseeable future, hence wondering whether to get any cover. With the levy - does it get taken out of your salary or do you have to pay it over in one go when you do your tax return? Got a quote from BUPA for Ambulance cover, $54 for the year for both of us. Link to comment Share on other sites More sharing options...
Rupert Posted June 20, 2012 Share Posted June 20, 2012 We aren't on WHV's anymore, we are on the 857 PR so will be here for the forseeable future, hence wondering whether to get any cover. With the levy - does it get taken out of your salary or do you have to pay it over in one go when you do your tax return? Got a quote from BUPA for Ambulance cover, $54 for the year for both of us. # So you are on a permanent visa, salaries close to the threshold. Onc eyou are over the threshold the insurance is less than the tax, but if you don't take it out in your first 12 months and if you are over 30, you end up paying higher premiums. So in this case, it would make financial sense. Even though the insurance itself appears to be a load of rubbish. Link to comment Share on other sites More sharing options...
nicolac34 Posted June 20, 2012 Author Share Posted June 20, 2012 # So you are on a permanent visa, salaries close to the threshold. Onc eyou are over the threshold the insurance is less than the tax, but if you don't take it out in your first 12 months and if you are over 30, you end up paying higher premiums. So in this case, it would make financial sense. Even though the insurance itself appears to be a load of rubbish. Thanks Rupert, that makes sense. We are 29 and 28 so guess we have another year to decide - is there any benefit to signing up before the 30 June? All I'm seeing is adverts saying you need to sign up before 30 June at the moment! Link to comment Share on other sites More sharing options...
tisme Posted June 20, 2012 Share Posted June 20, 2012 We aren't on WHV's anymore, we are on the 857 PR so will be here for the forseeable future, hence wondering whether to get any cover. With the levy - does it get taken out of your salary or do you have to pay it over in one go when you do your tax return? Got a quote from BUPA for Ambulance cover, $54 for the year for both of us. If you earn under $168,000 you will not have to pay the MLS. earn between $168,001 and $194,000 you will pay 1%, so if your income for 2013/14 financial year is say $180,000 you will be, as a couple over by $12,000, you would have to pay 1% MLS on that amount which is $120. Certainly a lot cheaper than the $120 fortnightly charge for private health cover. If I didn't have to pay a high MLS, there's no way I would bother with private health insurance, I am in good health, get my teeth checked every 6 months at a cost of approximatley $100, glasses about $300 every 2 years, the eye test is free. So if you weigh up the cost of private to pay as you go it is a hell of a lot cheaper to pay as you go. Just my opinion. As for the age loading, add the premiums you would have paid over the years without insurance to the age loading charge and you could still be in front financially. Link to comment Share on other sites More sharing options...
tisme Posted June 20, 2012 Share Posted June 20, 2012 Thanks Rupert, that makes sense. We are 29 and 28 so guess we have another year to decide - is there any benefit to signing up before the 30 June? All I'm seeing is adverts saying you need to sign up before 30 June at the moment! None what so ever in your circumstances, it's an advert, they want people to join their fund not someone elses, ignore them. Link to comment Share on other sites More sharing options...
tisme Posted June 20, 2012 Share Posted June 20, 2012 # So you are on a permanent visa, salaries close to the threshold. Onc eyou are over the threshold the insurance is less than the tax, but if you don't take it out in your first 12 months and if you are over 30, you end up paying higher premiums. So in this case, it would make financial sense. Even though the insurance itself appears to be a load of rubbish. No financial sense what so ever. Link to comment Share on other sites More sharing options...
fish.01 Posted June 20, 2012 Share Posted June 20, 2012 If you earn under $168,000 you will not have to pay the MLS. earn between $168,001 and $194,000 you will pay 1%, so if your income for 2013/14 financial year is say $180,000 you will be, as a couple over by $12,000, you would have to pay 1% MLS on that amount which is $120. Certainly a lot cheaper than the $120 fortnightly charge for private health cover. If I didn't have to pay a high MLS, there's no way I would bother with private health insurance, I am in good health, get my teeth checked every 6 months at a cost of approximatley $100, glasses about $300 every 2 years, the eye test is free. So if you weigh up the cost of private to pay as you go it is a hell of a lot cheaper to pay as you go. Just my opinion. As for the age loading, add the premiums you would have paid over the years without insurance to the age loading charge and you could still be in front financially. Think you pay the MLS on the whole income once you go over the threshold unless they've changed it. Link to comment Share on other sites More sharing options...
fish.01 Posted June 20, 2012 Share Posted June 20, 2012 None what so ever in your circumstances, it's an advert, they want people to join their fund not someone elses, ignore them. The before June 30 thing is a con...even if you join before June 30 you are asked how many days in the tax year you were not a member and pay the surcharge on that pro-rata. The ads imply getting in before June 30 will save you the whole year. Link to comment Share on other sites More sharing options...
Guest trasi Posted June 20, 2012 Share Posted June 20, 2012 So sorry to hijack your thread but i was wondering about medicare. I am coming over on a 457 and have 4 kids. i have been told i dont need medicare as there is a reciprocial agreement between the UK and Australia and we will be covered. Please can someone tell me if this is correct thank you x Link to comment Share on other sites More sharing options...
Guest saintsinperth Posted June 21, 2012 Share Posted June 21, 2012 Hi, I think this cleared up my problem to. I also had a feeling the medical insurance before June 30th was a con and i thinks it been confirmed with this thread. If someone could confirm our situation that would be much appreiciated as knowone i ask fellow expats (in the same job as i), HR or ATO seem to know the answer. My partner and I were originally on 417 Visa Jan 2011 (from the UK) and now have transferred to 457 (Nov 2011). Our shared income is below $160k and i doubt that will increase over the next 12 months. With that in toe does that mean we won't have to pay the MLS. I f one person can confirm that would be much appreiciated. Thanks. Link to comment Share on other sites More sharing options...
RockDr Posted June 21, 2012 Share Posted June 21, 2012 If you earn under $168,000 you will not have to pay the MLS. earn between $168,001 and $194,000 you will pay 1%, so if your income for 2013/14 financial year is say $180,000 you will be, as a couple over by $12,000, you would have to pay 1% MLS on that amount which is $120. Certainly a lot cheaper than the $120 fortnightly charge for private health cover. Both the medicare levy and the surcharge apply to the entire salary, not just the amount over the threshold, so if your income is say $180,000 you'll be paying 1% of that as the surcharge, i.e. $1800. $120 per fortnight is for a full package including extras. If you just get the hospital cover it's cheaper, so in some cases it can work out beneficial to get insurance. Link to comment Share on other sites More sharing options...
surflen22 Posted June 21, 2012 Share Posted June 21, 2012 The 30th June ads are for those who are over the threshold. You can prepay your medical insurance to avoid losing the rebate if you are now over the threshold. This is scaled so earning $1 over doesn't mean you lose the whole rebate. I do have more info on this so if anyone would like it, please pm me. Link to comment Share on other sites More sharing options...
Alaska Posted June 21, 2012 Share Posted June 21, 2012 So sorry to hijack your thread but i was wondering about medicare.I am coming over on a 457 and have 4 kids. i have been told i dont need medicare as there is a reciprocial agreement between the UK and Australia and we will be covered. Please can someone tell me if this is correct thank you x It's not to do with whether you need medicare, it's whether you need private health cover. Medicare what you will get on the reciprocal agreement. We are on a 457 visa and just have Medicare which entitles us to the same as anyone else in reality. We just needed a short policy to cover us until we signed up with Medicare (it was needed for the granting of the 457 visa). Link to comment Share on other sites More sharing options...
Paul1Perth Posted June 21, 2012 Share Posted June 21, 2012 So sorry to hijack your thread but i was wondering about medicare.I am coming over on a 457 and have 4 kids. i have been told i dont need medicare as there is a reciprocial agreement between the UK and Australia and we will be covered. Please can someone tell me if this is correct thank you x There might be a reciprocal arrangement that will cover you but I think you may as well sign up for medicare if just to get the cards. Every time you go to see a doctor, get a prescription or attend hospital they will ask for the card. I think it might be just easier to be signed up than not. A lot of doctors, like ours bulk bill so you don't have anything to pay for a visit once your details are down. You might have to shop around for one that bulk bills the whole amount though. Otherwise you have to pay then claim some back via medicare. Link to comment Share on other sites More sharing options...
Guest Guest62757 Posted June 22, 2012 Share Posted June 22, 2012 Yes OMG yes! While it doesn't cover things like consultations with dr like the UK private insurance. The private insurance here with extras covers so much more like glasses, speech therapists for children, chiro treatment, dentistry etc... I pay $290 a month top cover for a family of five and I use it a lot with my medical condition. My eldest uses it for his therapy's and I used it for the my last child and gave birth privately with a private obgyn. I feel safer having it to be honest. Link to comment Share on other sites More sharing options...
Paul1Perth Posted June 22, 2012 Share Posted June 22, 2012 Yes OMG yes! While it doesn't cover things like consultations with dr like the UK private insurance. The private insurance here with extras covers so much more like glasses, speech therapists for children, chiro treatment, dentistry etc... I pay $290 a month top cover for a family of five and I use it a lot with my medical condition. My eldest uses it for his therapy's and I used it for the my last child and gave birth privately with a private obgyn. I feel safer having it to be honest. My wife works in oncology in a private/public clinic. For private patients the only thing they get different is the choice of day to come. They have a payment to make too between what the treatment actually costs and what the health fund will cover. When they reach the limit of the health fund cover they switch to being a public patient and they don't have any out of pocket payments for the same treatment. We had our youngest at the Family birthing centre at King Edward. It's available to public patients absolutely free. Couldn't have been better, he had problems breathing when he was first born and was up on the intensive care baby ward in about 5 mins in an incubator. My wife's also a qualified midwife and reckons with kids the best people to deliver babies are midwifes, they are doing it every day. Fair enough it does help with glasses and dentists but you can get ancillary cover for those. Link to comment Share on other sites More sharing options...
tuckerfa Posted June 22, 2012 Share Posted June 22, 2012 We looked into it quiet recently. Me, Mrs (both 42) two kids19 & 17, both dependant. We got our PR visa when we were 40. From what we have seen on TV they penalise you for not having private health insurance from the age of 31. To fully insure all of us for hospital and extras it will cost around $1200 per month!! We are lucky if we have $120 a month left from our wages!! The figure they quoted is half our mortage!! The way I see it is. If I split my head open, they are going to stitch me. If I have a heart attack, they'll try not to let me die etc, etc, etc. The same as the UK. If you want to jump the queue, go private. I can't say for anyone younger as to how much it will cost and if it's worth it, but some one our age and income. Take your chances unless you can really afford $1200 per month. Just in case!! Link to comment Share on other sites More sharing options...
Guest trasi Posted June 22, 2012 Share Posted June 22, 2012 thank you all x Link to comment Share on other sites More sharing options...
Recommended Posts
Archived
This topic is now archived and is closed to further replies.