Here's the tax info too:
Table 1: Income thresholds
Base tier (no change) Tier 1 Tier 2 Tier 3 Singles $84,000 or less $84,001-97,000 $97,001-130,000 $130,001 or more Families* $168,000 or less $168,001-194,000 $194,001-260,000 $260,001 or more Private health insurance rebate entitlement Under 65 years old 30% 20% 10% 0% 65-69 years old 35% 25% 15% 0% 70 years old or over 40% 30% 20% 0% Medicare levy surcharge Rate 0.0% 1.0% 1.25% 1.5%
* The family income threshold is increased by $1,500 for each Medicare levy surcharge dependent child after the first child.
From here http://www.ato.gov.au/individuals/co...246.htm&page=2
So Monnie24 - your PHI doesn't give you something back or a rebate in your return (unless you don't claimed the federal government rebate as a reduction in premium- then you get some back in tax).
It does work for those earning over 168K as a family with one child (see table for more info) to limit the amount they pay for Medicare.
Everyone (except for some low income earners) pay the basic 1.5% Medicare Levy. Those in the table as high income earners also pay an additional 1, 1.25 or 1.5% Medicare Levy Surcharge (MLS). Having a private hospital cover (must be hospital) with a $500 Excess or less, will exempt a high income earner from paying the additional MLS (everyone still has the pay the standard 1.5% though).
Hope that makes a little sense.
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21-11-2012 22:43 #21
Last edited by Izy; 21-11-2012 at 22:56.
22-11-2012 00:27 #22impatiently waiting TTC miracle number 4
- Join Date
- Oct 2012
I use to fight my hubby tooth and nails to keep our PHI when our budget was tight and sooooooooo glad I did and we still have it, financially things are better for us and hubby doesn't see it as evil now and has realised how much it has helped us and saved us, he has had surgery using it and all the extras we use make life easier.
We have mid hospital (only 3 excluded things) and platinum extras (90% rebate) with Bupa (VERY happy with the cover and the service is great).
We live in a remote town in WA and we only have a public hospital for local care, it is a great hospital so by choosing to use my PHI when we go in for anything (my sons recent tonsilectomy happened to be a fly in surgeon coming the same month we arrived back in town so he could recover at home instead of staying in Perth for a few weeks beofre being aloud to fly home) anyhow, we used our PHI even though we didn't have to as it helps support our local hospitals budget to continue great service and care to the town by freeing up the public funding they would have paid to cover our stay/care for another patient.
For us it really comes into it's own when we need to see a specialist or are up for a long waiting period for something we need, yes we pay something toward the procedure/Drs etc but I am cutting months or years off the wait to get that treatment or advice when we have limited services here and fly in out Drs to maintain pain etc while waiting publicly for me would be a nightmare especially if it was for my kids I want them to have the best here and now and not wait around even if it means some out of pocket cost at the time (depending on your choice of Drs use of gap scheme not always an out of pocket cost), we have long flights to get to specialists and to know I have continuity of care without the waiting periods of public means alot if I want to use it.
Also with Bupa we get 90% of our dental covered so only pay 10% oop on the day and if using a Bupa members first dentist kids general dental is free, but in our town we only have public dentist if your on a health care card and we aren't so private, dentist here is expensive, prior to moving back here we spent $3500 on dental care in one year between 5 of us (2A, 3K) so it has more than covered what we pay per year for our insurance.
We regularly use chiro, dental, optical, natural therapies etc on our extras and make sure we use our benefits best we can to ensure we get something for our money but they are things we were going to do/get anyway so it gets them for me in a more affordable way.
I think of it as pre paying for medical/extras in a way, every year (in the 4 years we have had cover) we have used more than what we pay in premiums.
I could go on and on about how it saved my mums life as she had continuity of care and faster attention after she had lung collapse and embalism etc there are lots of things.
If you don't know where to start for you call one of the companies like helpmechoose or Iselect (both dot com dot au au end I believe) and get them to help you sort out the mumbo jumbo (I found calling them better then reading the internet pages as when I was new to it all it made no sense) then once they helped me find my first fund (we were with for a year or so) I got to understand what we wanted and use it for best, so then was more knowledgable to go looking at funds myself to better match the cover we need to what we used/wanted to use.
HTH sorry it got long and hope it makes sense.
Last edited by 2plus3equals6; 22-11-2012 at 00:39.
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22-11-2012 01:01 #23
Re: Convince me I need private health cover
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22-11-2012 01:23 #24
22-11-2012 05:24 #25
For me its never been an option NOT to have the cover. I have had 14 surgeries in my life and just last year I had kidney cancer, which was picked up in a private emergency as I was fading fast (body shutting down from shock) and they put me into a CT quick.
Anyway, just to cut a very long medical story short, since my cancer Ive had 3 major surgeries. We are with HCF and we received a statement from them about what they had paid on our behalf for myself, my partner (who has medical issues also and has been in hospital i think 4 times in the last 10 months)- and the pay out from HCF in the financial year was:
We pay $150 excess for an admission for each person only once in a financial year. We pay about $70 a week. Yes, its expensive, but it gives you options. For one of my surgeries, they wanted to remove my gall bladder then and there in a public hospital as I passed out at work and was taken by ambo to the nearest hospital. But I asked to be transfered to a private hospital where all of my information was. It turns out I had an infection and pancreatitis and any surgery before that was cleared would have been very dangerous. So I wasnt operated on for a few days.
Now, Im not saying public hospitals arent any good. I just have two more examples as to why I prefer to have private health.
1. My DP's grandma was also diagnosed with kidney cancer and was due to go in to have the kidney removed, as was I. My diagnosis to surgery date took 2 weeks and I had NO symptoms and was a private patient. Grandma was requiring blood transfusions as she was heamoragging so badly from the cancer and was placed on the 'emergency' list for the operation. And it was 4 months she needed to wait- as a public emergency patient.
2. My DP hurt his back and was taken by ambo to the local public hospital. The doctor said 'right, lets fill you full of morphine and get you home'. No scans, no tests, nothing. My DP is a big guy, 140 kilos and I just said "what do you want me to lift him?". The doctor then said "we wont admit a 31 year old with back pain". So i said "well release him to me, get me a transfer to a private hospital". She then said "oh do you have private cover" and I said "yes". We had an ambulance transfer with 2 ambo guys moving him within 20 minutes and he was moved to a private hospital where he wasnt allowed home for a week because he was unable to walk.
So for us, we just manage our budget to make sure its covered.... I wouldnt be without it.
Just my opinion! Sorry it was so long!
Last edited by Hopefully Waiting; 22-11-2012 at 05:28.
22-11-2012 07:16 #26
22-11-2012 07:21 #27
Re: Convince me I need private health cover
We've never needed it, never bothered getting it. We just go public if we need anything, we're both over 30 now anyway.
22-11-2012 08:08 #28
In many cases I think it depends upon where you live and what services/specialitsts are available in your local area.
I am a nurse in a public hospital and I personally see no point in having private health insurance!
I think it is a decision that depends greatly from family to family and your personal health, your location and your financial situation all have an impact on what is the right option for you.
We are very blessed that between my husband and I we have a great income and earn well over the threashold amount, therefore we are penalized at tax time for not having private health insurance. However, I would rather pay extra money to support the public health system at tax time than line the pockets of greedy insurance companies.
I have previously also worked extensively in private hospital settings and I can assure you that patients with even the best insurance also suffer from delay's and misadventure in the private system. Most private hospitals are run from a very business like perspective, it is all about money! I have personally witnessed some horrible patient outcomes occour in the private hospital system because of budgeting and the way these hospitals are run to a strict budget to assure profit margins! In short, my personal and professional experience indicates that haing private health insurance does not guarantee that you will necessarily recieve the ''best" care.
24-11-2012 13:43 #29
for me, its not about getting the "best" care ... but in some cases, its about getting care at all.
I was due to start IVF when some blood tests showed some concerning results. I was referred to a haematologist before I could continue with any fertility treatment. I was given a wait time of 4 months for an appointment.
Due to having PHI, and the fact that my private fertility specialist knew my Haem and called him in order to get my IVF restarted, I got in to see the haem in 2 weeks. I saw him on a friday, and he said I have booked you in for a bone marrow biopsy on Monday.
I was diagnosed with Luekaemia with those results. As it was picked up so early, it has meant that I have not had significant health issues which are often associated with my kind of disease ...
My Haem only sees public patients 4 hrs per week. Its almost impossible to get an appointment. And yet to continue my medication, I am required to see a specialist every 3 months, otherwise my meds are cut off. Doing this as a public patient would be almost impossible.
2 years ago, I had some major issues. I was not responding to my meds, and was in the process of changing over to new ones. I experience incredibly, OMFG-level pain the kind I cannot describe. It built up over a few weeks, but got considerably worse over a period of about 2 days ...
I called him in the morning, and he said I can see you tomorrow ... have some blood tests which I will fax your pathology lab.
Pain got worse (I didnt actually think that was possible, but anyway) ... I called at 2pm and said "I need to be in hospital", and without seeing me, seeing my results of blood tests or any further questions he said "I will call you back in 10 minutes"
He called me back and said "go to xxx hospital, they are waiting to admit you". I was in hospital for over a week.
If I had had to go to emergency it would have been soooo much worse. I simply cannot describe how much pain I was in - even with the IV morphine drip. I am so incredibly grateful to my private specialist and the care that I receive.
If I did not have PHI, I would not get this care.
24-11-2012 13:58 #30
Myself and hubby are with medibank private it's ok I guess but I still don't seem to get much back, and found out Genea who we are going through are not partners with them, so won't be getting much back from medibank private after the IVF maybe a few hundred for day surgery that's about it. I wanted the cover though as when I finally get pregnant and time to give birth I wanted to go private. I also use it for dental a fair bit and get some back.
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