CaptainR Posted August 11, 2014 Share Posted August 11, 2014 Has anyone and good advice for private medical insurance providers in lieu of paying the Medicare levy? Is the Medicare deducted automatically and then reclaimed at the end of the financial year or paid as a penalty at the end of the financial year? Looking at the possibility of insurance for my the whole family (wife and 2 young kids) Link to comment Share on other sites More sharing options...
CaptainR Posted August 11, 2014 Author Share Posted August 11, 2014 Oh and this lifetime health cover thing? Join before 31st birthday or within first 12 months of arriving, what's all that about? Link to comment Share on other sites More sharing options...
Pumpkin Posted August 11, 2014 Share Posted August 11, 2014 Has anyone and good advice for private medical insurance providers in lieu of paying the Medicare levy? Is the Medicare deducted automatically and then reclaimed at the end of the financial year or paid as a penalty at the end of the financial year? Looking at the possibility of insurance for my the whole family (wife and 2 young kids) You cannot completely avoid the Medicare levy, just the second levy for people in certain income brackets. If you are in that income bracket, then it would be an extra charge at the end of the year when you do your tax return, if you don't show that you had the insurance. Age loading very important consideration, health insurance premiums will be much higher if they are loaded for age - as you would expect a 70 year old deciding to take out private health cover for the first time may expect to get a lot of use out of it versus a 23 year old. To avoid the age loading, the new migrant aged over 30 needs to take out cover in the first 12 months. Link to comment Share on other sites More sharing options...
AJ Posted August 11, 2014 Share Posted August 11, 2014 If you are over the income for the extra levy you are as well paying out for the private health insurance as it works out around the same amount and if you have the insurance at least you can have the benefits! Link to comment Share on other sites More sharing options...
CaptainR Posted August 11, 2014 Author Share Posted August 11, 2014 Thanks for the replies, we are in the higher brackets and need to pay the extra levy. Any recommendations for providers ? Link to comment Share on other sites More sharing options...
AJ Posted August 11, 2014 Share Posted August 11, 2014 Thanks for the replies, we are in the higher brackets and need to pay the extra levy. Any recommendations for providers ? We are with Medibank, not really claimed for much but I got glasses last year and OH been getting some dental treatment, still having to pay $500 but I think it is well over $2000 the full price Link to comment Share on other sites More sharing options...
Guest Sassy Posted September 9, 2014 Share Posted September 9, 2014 I was hit by the MLS this year for the first time. I had full cover with BUPA but as I am overseas visitor (on a 457 visa) my health insurance does not count towards the MLS. You need to take out a separate insurance which does not provide you with any cover but does allow you to avoid the Medicare Levy Surcharge. The approximate monthly costs are: BUPA - $72 NIB - $72 Medibank - $85 Please don't be fooled into thinking that your overseas visitor health insurance will cover you. I was and ended up with a nasty surprise tax bill at the end of the year. Link to comment Share on other sites More sharing options...
Skani Posted September 9, 2014 Share Posted September 9, 2014 Any recommendations for providers ? That depends on many variables including your state of residence, family composition and ages. There is a tool here where you can enter your details and it will provide some recommendations: http://www.canstar.com.au/health-insurance/ Link to comment Share on other sites More sharing options...
Guest Sassy Posted September 9, 2014 Share Posted September 9, 2014 Thanks Skani. Maybe it's different in NSW but here you need two types of cover. One which covers you for medical emergencies and one which stops you paying the MLS which covers you for nothing. You have to have overseas visitors cover and not a cover for residents. The website you've linked to, takes me to residents cover even when I click 'overseas visitor'. Link to comment Share on other sites More sharing options...
Skani Posted September 9, 2014 Share Posted September 9, 2014 The website you've linked to, takes me to residents cover even when I click 'overseas visitor'. I was responding to CaptainR's request for recommendations for providers...and his family are residents in Oz. Link to comment Share on other sites More sharing options...
CaptainR Posted September 9, 2014 Author Share Posted September 9, 2014 Thanks for replies, we are now with Bupa. Link to comment Share on other sites More sharing options...
Kapri Posted September 11, 2014 Share Posted September 11, 2014 We are with Bupa. No complaints - if you use their first providers you get a fair bit back. Link to comment Share on other sites More sharing options...
fish.01 Posted September 11, 2014 Share Posted September 11, 2014 The downside I found with Bupa is that under their extras policies "major" dental is not paid out as a percentage of fee but as a "set benefit" instead....this is usually lower. For example under my 85% Medibank policy if I get a $1000 "major" dental bill (e.g. crown) medibank will pay 85% (i.e. $850 out of the $1000). Under "set benefits" you will often only get something around $500-$600 (guessing from past experience with other providers). Bupa does pay 100% (unlimited) for general dental though under some/all policies I think where my Medibank 85% policy only pays 85% (unlimited). Link to comment Share on other sites More sharing options...
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