Archived Discussion Topic

PRIVATE HOSPITAL INSURANCE       started by Sharron+Mick on 18 Mar 2011   (23458)
Message InfoMessage
From Sharron+Mick

18 Mar 2011 11:52 PM
I keep looking into Private Hospital Insurance for me and my family (basic hospital) but dont seem to get any further. We have been with Medibank for quite a while but only for general dental, optical and ambulance etc. This is quite inexpensive for the treatments we get back so I am happy to continue with it. Whats the pros and cons of Hospital insurance ? can anyone give me some advice please - thankyou
From tisme

To Sharron+Mick

19 Mar 2011 2:53 PM
The benefits of hospital cover is having your choice of doctor for your treatment in hospital, also the waiting time for private treatment is shorter and you (if available) will have a private room in a public hospital, and have access to a private hospital. Thats about it, oh and it cost a fortune to be covered. If you are all generally in good health I wouldn't bother. In an emergency everyone gets the same treatment.
From Sharron+Mick

To tisme

19 Mar 2011 3:42 PM
Yes thanks for that I was hoping someone could give me more info re tax and the health levy. When i av been looking on the internet it says you can claim against private health on your tax return ?? also the longer you leave it before getting it it cost you more. The government apparently want you to have it before the age of 30 and for every year you are above that it cost more ?? HELP....
From moirclan

To Sharron+Mick

19 Mar 2011 7:33 PM
The Medicare Levy Surcharge is an extra 1% tax payable by those who earn over a certain threshold but do not have eligible private Hospital Cover. The purpose of the Medicare Levy Surcharge is to help ease the burden on the public health system by encouraging higher income earners to join health insurance and use the private The threshold for couples for the 2010-2011 financial year is $154,000. This means that if you and your partner earn over $154,000 and do not have Hospital Cover, you will be taxed an extra 1%, which is a minimum of $1,540 annually Families The threshold for families for the 2010-2011 financial year is also $154,000, so if your combined household income exceeds $154,000 and you do not have Hospital Cover, you will be taxed an extra 1%, which is a minimum of $1,540 annually. This applies to both single-parent and two-parent families, however special rules apply to families with more than one child. The Medicare Levy Surcharge threshold increases by $1,500 for every child after the first, as per the table below: No. of children MLS threshold 1 $154,000 2 $155,500 3 $157,000 4 $158,500 etc... + $1,500 per child i pay my full health insurance and at the end of the tax year i claim 30 % of it back on out tax , so its a nice little lump sum i think it was $960 last year or some thing like that