14-06-2010, 11:57 AM
Hi All,
The wife and I have been living here as permanent residents now for nearly a year. Recently, after the birth of our son we were contacted by Medicare to warn us about the 2% loading on private health cover. My question is really simple -
Do we have to take cover out?
I have read the information and it seems that we have a choice not to take out cover. We will still be entitled to be treated at a public hospital as a public patient.
I understand that if we wanted to take out private health insurance in the future we would end up paying more. For example- If I waited until I was 40 I would have to pay an extra 20% on my premium = gap of 10 years (from age 30) x2%.
I have to decide whether it is worth paying now and potentially not using the cover, or whether it is worth waiting and paying extra in the future if we chose to go private.
I'd be grateful of any suggestions and experiences.
Cheers,
David.
The wife and I have been living here as permanent residents now for nearly a year. Recently, after the birth of our son we were contacted by Medicare to warn us about the 2% loading on private health cover. My question is really simple -
Do we have to take cover out?
I have read the information and it seems that we have a choice not to take out cover. We will still be entitled to be treated at a public hospital as a public patient.
I understand that if we wanted to take out private health insurance in the future we would end up paying more. For example- If I waited until I was 40 I would have to pay an extra 20% on my premium = gap of 10 years (from age 30) x2%.
I have to decide whether it is worth paying now and potentially not using the cover, or whether it is worth waiting and paying extra in the future if we chose to go private.
I'd be grateful of any suggestions and experiences.
Cheers,
David.
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