OneTime
26-06-07, 12:51 PM
Time is running out....
I'm sure those of you in Oz have heard the endless ads about how those without private health cover who are over 30 or earning more than $50,000k are going to pay a higher premium for not having private health care.
Here is and explanation -
http://www.health.gov.au/internet/wcms/publishing.nsf/Content/health-phi-fact27.htm
Lifetime Health Cover (LHC) was introduced in July 2000 and involves a penalty for people aged over 30 who do not hold private health insurance hospital cover.
For each year over 30, a 2 per cent loading (cumulative) is added to the cost of the private health insurance premium up to a maximum of 70 per cent. Those born before 1 July 1934 are exempt from the penalty.
Health funds are required to charge different premiums based on the age of each particular member depending on when they first took out private health insurance.
Currently, health funds charge the loadings on top of premiums paid by people who did not have private hospital cover while they were younger or did not join before 15 July 2000.
The loadings have meant that a person who delays joining until the age of 40 has had to pay 20 per cent more than someone who joined at the aged of 30........ click here for more (http://www.health.gov.au/internet/wcms/publishing.nsf/Content/health-phi-fact27.htm)....
If you are considering who to go with, check out www.iselect.com.au
They act as a "broker" who look for the best deals across the range and seem to be pretty good.
I'm sure those of you in Oz have heard the endless ads about how those without private health cover who are over 30 or earning more than $50,000k are going to pay a higher premium for not having private health care.
Here is and explanation -
http://www.health.gov.au/internet/wcms/publishing.nsf/Content/health-phi-fact27.htm
Lifetime Health Cover (LHC) was introduced in July 2000 and involves a penalty for people aged over 30 who do not hold private health insurance hospital cover.
For each year over 30, a 2 per cent loading (cumulative) is added to the cost of the private health insurance premium up to a maximum of 70 per cent. Those born before 1 July 1934 are exempt from the penalty.
Health funds are required to charge different premiums based on the age of each particular member depending on when they first took out private health insurance.
Currently, health funds charge the loadings on top of premiums paid by people who did not have private hospital cover while they were younger or did not join before 15 July 2000.
The loadings have meant that a person who delays joining until the age of 40 has had to pay 20 per cent more than someone who joined at the aged of 30........ click here for more (http://www.health.gov.au/internet/wcms/publishing.nsf/Content/health-phi-fact27.htm)....
If you are considering who to go with, check out www.iselect.com.au
They act as a "broker" who look for the best deals across the range and seem to be pretty good.