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#26 IamOzgirl

Posted 12 November 2019 - 08:30 AM

View Post*Nasty*Squeekums*, on 12 November 2019 - 06:18 AM, said:

dont have it never will
too expensive, id never use it honestly
I avoid the dr like the plague
in last 9 years ive been once for myself, dd 6 week check.....

dp wont get it as with all his pre existing conditions the premiums would be huge, if they even touched him

In Australia they can't change etc for pre existing.

You will just get a longer wait list (like an extra year at most)

OP I grew up in a family that always had PHI. So I kept it. I also have been in a situation overseas of needing medical support and not having the money for it (whilst backpacking), and would have been a waitlist in Australia to go public,  so it scared me senses enough to keep it.

I currently have top cover, but will drop down as soon as my baby making years are behind me (ie I will drop it down whilst still recovering in hospital)

Most financial advice is to have hospital cover and no extras. You should self fund those.

you should def shop around funds, up your excess to reduce premiums. As pp says you only pay the excess once per year per family.

Also check what level hospital you need for your surgeries, but no pregnancy, you may not need top cover.

#27 Stylus

Posted 12 November 2019 - 08:38 AM

I think you've answered your own question - going privately will usually enable you to avoid the long wait times for elective, non-emergency treatment in the public system. It sounds like that's not your experience though, which is unusual.

I think you could do better than 6.5k. Ours is 5k...I got a bit confused with the references to extras/excess in your OP. You can retain extras but pay a higher excess to keep your premium down.

Another option for your family, if not everyone needs private cover, might be just getting singles cover or couples cover.

#28 IamOzgirl

Posted 12 November 2019 - 08:45 AM

Stylus

Good point!

I have heard it is cheaper to get two single policies if you don’t want dependants covered.

#29 born.a.girl

Posted 12 November 2019 - 08:46 AM

Completely separate the two.

Extras are mostly something you can evaluate beforehand.  If you have several kids and genetics mean significant dental, take that into account.  I also use my max physio each year, due to physio led pilates.  I wear a few different pairs of glasses, so use that. Some bonus issues are a free new blood pressure monitor occasionally (which I need), travel immunisations etc. Basically, it costs me less than I get back from it.


Hospital insurance on the other hand, is like house insurance. Too late once your house is burning down to try to sort it.

I've had it since 1969, because that was more than a decade prior to Medicare, and have held on to it because I have a messy medical history that led to complications that meant quick access to a hospital bed instead of debilitating conditions taking months on the waiting list.  I'd already sacrificed enough of my life to poor health, medical insurance came way up my list of discretionary spending. It came before saving for a house.

We are now late sixties, and in the age group where many necessary solutions are considered non-urgent. My SIL's mother was in a wheelchair for two years before she got her hip replacement.

It would be nice to have a system where everybody was treated equally, but until we have one where painful conditions in old age are treated in an appropriate time frame, I'll be sticking with my insurance.


p.s. ours is $400 per month for both, with 2 x $500 excess pa, which keeps the price down.  Annoying when you do use them and your costs are then higher than no excess for the year, but we make up for that with other years when we don't use it.

Edited by born.a.girl, 12 November 2019 - 08:48 AM.


#30 born.a.girl

Posted 12 November 2019 - 08:59 AM

View Post*Nasty*Squeekums*, on 12 November 2019 - 06:18 AM, said:

dont have it never will
too expensive, id never use it honestly
I avoid the dr like the plague
in last 9 years ive been once for myself, dd 6 week check.....

dp wont get it as with all his pre existing conditions the premiums would be huge, if they even touched him

Where did he get the idea that his pre-existing conditions would affect the premium?

#31 IamOzgirl

Posted 12 November 2019 - 09:02 AM

View Postborn.a.girl, on 12 November 2019 - 08:59 AM, said:



Where did he get the idea that his pre-existing conditions would affect the premium?

So many people think that

My parents refuse to shop around because of pre existing and thought I was mad to change PHI companies whilst pg.

I did and was covered in private hospital, they still don’t believe me and have crazy high premiums!

#32 SeaPrincess

Posted 12 November 2019 - 09:15 AM

DS1 had minor surgery in the public children’s hospital, and by going private, we got some vouchers for meals in the hospital cafeteria. I believe the hospital benefited from us using PHI, but we had no costs for him.

#33 taters

Posted 12 November 2019 - 09:17 AM

We have PHI because I don't want myself, husband or children waiting for any kind of health care and so that we have choice about the doctor we see/treats us. I have seen what the public system offers in this area and I have serious concerns about not having choice and being stuck with a registrar or being at the local public hospital.

We have top hospital but mid extras as that works for us.

It is expensive for us and it would be great to have that extra money to spend on fun things but I see it as so necessary for my family.

#34 Squeekums The Elf

Posted 12 November 2019 - 09:19 AM

View Postborn.a.girl, on 12 November 2019 - 08:59 AM, said:

Where did he get the idea that his pre-existing conditions would affect the premium?

It's just something we always heard and as PHI shopping is confusing, time consuming and stressful, we never questioned it as it seems something an insurance company would do and it be legit.
Plus anything that sounds like extra cost is a "well bugger that" response

#35 SplashingRainbows

Posted 12 November 2019 - 09:23 AM

Pre existing conditions do not affect premiums for health insurance.

They also do not prevent you from shopping around for the best deal.

Age will impact your premium if you haven’t had continuous cover since age 31.

#36 born.a.girl

Posted 12 November 2019 - 09:36 AM

View Post*Nasty*Squeekums*, on 12 November 2019 - 09:19 AM, said:

It's just something we always heard and as PHI shopping is confusing, time consuming and stressful, we never questioned it as it seems something an insurance company would do and it be legit.
Plus anything that sounds like extra cost is a "well bugger that" response

I'm pleased to report he heard wrong.

There are comparison sites where you can evaluate what would work for you, and much of that depends on individual circumstances.

Health insurance companies have to comply with government rules on this one.

Not that I'm suggesting you should investigate it, just that the information he's received is not correct.   It's totally different from life insurance (which I also couldn't get even in my 30s).

#37 South Coast

Posted 12 November 2019 - 09:48 AM

We had been in PHI for 12 years - hardly used it but I spose it was ok while I was pregnant and DS.   However over the last two years I have become increasingly annoyed with the cost.

We were paying $340 per month, then last year I needed a crown - I got nothing back - cost me the full $1700.   So 6 months ago I cancelled it.  

We can can have no PHI for 2 years and 11 months before the levy comes into affect so going to save ourselves $12,000 then jump back in.

We are all well, DS is well and we are saving the $340 every month into another account.

.. just made sense to me at this stage of our lives.

#38 Chchgirl

Posted 12 November 2019 - 09:58 AM

I also took off any pregnancy and related services years ago, given I'm now in my early 50's . I had a single parent policy..

I'll never save the money I pay, I'll always spend it on something else being single income!

#39 MessyJ

Posted 12 November 2019 - 10:01 AM

View Post~LemonMyrtle~, on 12 November 2019 - 05:44 AM, said:

We have it now because we actually save money by having it due to less tax paid at tax time (how messed up is that??)

I don't think it's messed up, I see it more like if you are earning enough to be fined by the medicare levy at tax time, you're earning enough to be able to cover your own medical costs and leave the overburdened public system to the people that truly need the help financially!! (but I only looked at it from this perspective recently as it affected us for the first time, when I first heard we would have to pay I thought it sounded messed up too!)

We got it this year as DH got a pay rise so it's the first year we were fined by the medicare levy at tax time. We pay the basic hospital cover and no extras and that's less for us than paying the levy. We have ambulance cover separately.

Years ago when my husband had full cover he used it when he required non-essential jaw surgery to fix an under bite. One of those things we would have just ignored if we didn't have it.

#40 born.a.girl

Posted 12 November 2019 - 10:06 AM

View PostSouth Coast, on 12 November 2019 - 09:48 AM, said:

We had been in PHI for 12 years - hardly used it but I spose it was ok while I was pregnant and DS.   However over the last two years I have become increasingly annoyed with the cost.

We were paying $340 per month, then last year I needed a crown - I got nothing back - cost me the full $1700.   So 6 months ago I cancelled it.  

We can can have no PHI for 2 years and 11 months before the levy comes into affect so going to save ourselves $12,000 then jump back in.

We are all well, DS is well and we are saving the $340 every month into another account.

.. just made sense to me at this stage of our lives.


Dental I think is the trickiest one to work out. Some don't cover anything major. Most have 'sub limits' that it's damned near impossible to work out.  Australian Unity now have a feature whereby you can put int he name of the practioner, the codes, the cost and find out what you'll get back.  Neighbour was like you, an expensive treatment that simply wasn't covered.

I'm reasonably happy with mine, getting over $400 back for a complex root canal that cost $1400.  The sub limits annoy me though.

#41 nom_de_plume

Posted 12 November 2019 - 10:14 AM

View PostMessyJ, on 12 November 2019 - 10:01 AM, said:



I don't think it's messed up, I see it more like if you are earning enough to be fined by the medicare levy at tax time, you're earning enough to be able to cover your own medical costs and leave the overburdened public system to the people that truly need the help financially!! (but I only looked at it from this perspective recently as it affected us for the first time, when I first heard we would have to pay I thought it sounded messed up too!)

We got it this year as DH got a pay rise so it's the first year we were fined by the medicare levy at tax time. We pay the basic hospital cover and no extras and that's less for us than paying the levy. We have ambulance cover separately.

Years ago when my husband had full cover he used it when he required non-essential jaw surgery to fix an under bite. One of those things we would have just ignored if we didn't have it.

Except access to medical care is a human right (and yes, I know we don’t have ‘rights’ in Australia as such, I’m referring to Article 25 of the UN convention). I am proud to live in a country that has affordable, socialised health care available for all.

My partner and I paid over $74k in taxes last year, and the MLS on top of that. I see it as contributing our bit to society. I’d rather that money go into the public purse to benefit all Australians as opposed to just looking out for myself.

#42 rosie28

Posted 12 November 2019 - 10:15 AM

View PostIamOzgirl, on 12 November 2019 - 09:02 AM, said:



So many people think that

My parents refuse to shop around because of pre existing and thought I was mad to change PHI companies whilst pg.

I did and was covered in private hospital, they still don’t believe me and have crazy high premiums!

I think the idea comes from American TV programs. I guess paying the higher premiums as a result is a “watches too much TV tax” ;) I spent months convincing my friend to make the phone call to see what her options were, she was so convinced.

#43 daybreaker

Posted 12 November 2019 - 10:25 AM

My dentist said to me that Extras is where Insurance companies make the most profit (meaning you get the least back from your outlay) which is why they advertise them the most.

I have never had Extras cover because very time I work out how much I'll get back for what I will pay upfront it is never worth it (mostly dental). We also never use physio, glasses etc.

I have Hospitals cover though and it costs me $2800/year for our family of 5. This is the 2nd top cover. I dropped down from the top cover when my baby days were done as you only need the top cover for Obstetrics. It is worth it, because you don't want to be on waiting lists for elective surgery. Plus a private room in hospital is important to me too. (I realise not such a high priority for some).

#44 MessyJ

Posted 12 November 2019 - 10:32 AM

View Postnom_de_plume, on 12 November 2019 - 10:14 AM, said:

My partner and I paid over $74k in taxes last year, and the MLS on top of that. I see it as contributing our bit to society. I’d rather that money go into the public purse to benefit all Australians as opposed to just looking out for myself.

So which is better? Paying your own way and thus not overburdening the public system? Or using the public system but giving a 'donation'/fee afterwards in the form of the levy? I had assumed it's a much of a muchness...

#45 IamOzgirl

Posted 12 November 2019 - 11:20 AM

View Postnom_de_plume, on 12 November 2019 - 10:14 AM, said:



Except access to medical care is a human right (and yes, I know we don’t have ‘rights’ in Australia as such, I’m referring to Article 25 of the UN convention). I am proud to live in a country that has affordable, socialised health care available for all.

My partner and I paid over $74k in taxes last year, and the MLS on top of that. I see it as contributing our bit to society. I’d rather that money go into the public purse to benefit all Australians as opposed to just looking out for myself.

But does the 'tax' you pay for not having PHI actually go to the health system or does it go into the public purse and is spent how our allies see fit?

OP also look into health funds that allow you to pool your extras on the 5 extras you use (you choose) rather than paying for stuff you don't (now I sound like an ad!)

I think AHM and health.com.au do this.

#46 -Emissary-

Posted 12 November 2019 - 02:44 PM

View PostMessyJ, on 12 November 2019 - 10:32 AM, said:

So which is better? Paying your own way and thus not overburdening the public system? Or using the public system but giving a 'donation'/fee afterwards in the form of the levy? I had assumed it's a much of a muchness...

In my case, before this year DH and I are healthy and therefore have never claimed on hospital for anything. Our premiums are effectively subsidising people on health insurances not the public system. Us young healthy folks are the one who are subsidising private health funds. We do nothing for the public system.

This year I fell pregnant but didn’t have private health insurance cover for pregnancy. I’m going through the public system. So therefore, my private health insurance still pays for nothing for the the public system, my premiums continues to subsidise private health and I’m costing the public system more.

I honestly rather we scrap private health insurance completely and increase our taxes to build a well funded public system. If it wasn’t for the age loading, I would not consider taking out private health insurance at all.

Edited by -Emissary-, 12 November 2019 - 02:45 PM.


#47 MuffinQueen

Posted 12 November 2019 - 03:01 PM

We've had Basic PHI for years because of Tax, however earlier this year we upped our cover and took out Ancillary as well.

We're not getting any younger, plus our son plays sport year round and one of his footy mates did his ACL.  His parents couldn't afford to get it fixed and don't have PHI.  I think from memory, the mother said it was going to cost them $10k or they had to wait 18 months.  

For us, it's peace of mind that if something needs doing there's no wait.

#48 But seriously

Posted 12 November 2019 - 03:08 PM

Because its insurance. Hopefully you will never need it. But you cant just save up and pay. If something went wrong and you ended up in ICU then you'd be looking at a bill of tens of thousands.

#49 Sugarplum Poobah

Posted 12 November 2019 - 03:37 PM

View PostBut seriously, on 12 November 2019 - 03:08 PM, said:

Because its insurance. Hopefully you will never need it. But you cant just save up and pay. If something went wrong and you ended up in ICU then you'd be looking at a bill of tens of thousands.

Huh?

If you're in Australia you're not going to be admitted to a private ICU without insurance and if you're admitted to a public ICU then you won't be charged.

ETA: I've realised you probably mean if you're "self-insured" and something goes wrong. But it initially came across to me as being admitted to ICU in and of itself would result in a massive bill if you don't have insurance.

Edited by Nasty Poobah, 12 November 2019 - 04:40 PM.


#50 raechel82

Posted 12 November 2019 - 03:40 PM

Never had it as an adult.  Lucky to be extremely healthy, a cold  once or twice a decade is the biggest health issue I have faced.

I pay $180 for a dental check up annually, never had a filling etc. Just pay for contacts and glasses upfront and I am ahead.

Being in 40’s if I take insurance out lifetime loading applies. There is online calculators to guide you through this. Just remember the loading isn’t forever. Even if I decide to take out hospital cover at some point I am still so far ahead $ wise.

I think for most people extras is not worth it. Will consider hospital in the future, but happy with my decision.




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