Private Health Insurance Options

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  b2tf on 05/06/2014 - 06:59

  +1

  -We did option 1 and then added baby to her plan 3 months before baby was born so baby is covered in private hospital incase of complications. We eventually ended up with a family plan.
  -Option 2 is also possible, your wife will be covered but be quick as there is 12 month wait for pregnency
  -Medicare levy can be more than basic health insurance

  • 

    ESEMCE on 05/06/2014 - 08:29

    +1

    Medicare levy can be more than basic health insurance

    If the OP does actually have a "salary is quite low" then this wont be an issue at all.

    OP consider not taking out Private Health at all. If you don't need it (this is a gamble, but you'll have a fairly good idea), it's financially better for you to self insure by paying down extra repayments into the mortgage or savings account and pay the loading (only a few percent extra for 10 years) in the future when you actually might need/use Private Health.
    Ditto for your wife.. research the costs that Pregnancy/Delivery with Private Health are still out of pocket for especially in a Private Hospital (Private patients in a Public Hospital pay significantly less).
    We were supremely happy with the Public system for our Pregnancy/Delivery. Ask around friends and family for their experiences.

  • 

    tonester on 05/06/2014 - 12:43

    +1

    added baby to her plan 3 months before baby was born so baby is covered in private hospital incase of complications.

    +1

    unborn baby covered by mother's pregnancy insurance

    newly-born baby requires own insurance coverage

    (childbirth is for mother not born baby)

  • 

    countmein on 05/06/2014 - 21:57

    Thanks guys for all your comments.

    Firstly, I was under impression that the mother needs to wait 12 months in a pregnancy cover. But according to b2tf, the mother will be covered since she started in any cover (regardless) in an insurance company for 12 months, then upgrade it to pregnancy cover 2-3 months before due date?

    What I mean is, let say my wife joins young basic/cheapest cover in June 14, then in April 15 we'll upgrade the cover to pregnancy cover (assuming she's 6-7 month pregnant). Would that work?

    so baby is covered in private hospital incase of complications

    +1 for that

    Just confirming, the costs of pre-natal check ups and ultrasound are out of our pocket and aren't covered regardless we have an insurance or not?

    Secondly, is it possible/easy to 'downgrade' the cover in future? I believe its easy to upgrade.

    Appreciate your reply.

    • 

      NancyCat on 05/06/2014 - 22:38

      Yes, it is possible & easy to downgrade after having the baby. We did that after having the 3rd child.

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  NancyCat on 05/06/2014 - 10:25

  +2

  My husband and I were in the similar situation as you. We ended up just him have private insurance, and I had the baby in the public system. We had 2 kids in the public system…no problem at all. We only 'upgraded' from his single policy to a family policy when I turned 30. You have to know that, pregnancy cover in private insurance doesn't cover any pre-natal check ups or ultrasound, Medicare covers a little, but there's still a gap fee for every check up/ultrasound. I had our 3rd child in the private hospital, the only difference was, this time I had a single room, and the food was slightly better.
  If I were you, I wouldn't join private insurance purely for pregnancy. All the money you''re paying for is really just for a nicer room for a few nights. Is that worthy? You are going to have a baby, you'll need to spend lots of money soon, start saving!

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  b2tf on 05/06/2014 - 22:09

  +1

  Your wife will need to wait full 12 months for pregnancy cover - basic cover period does not count

  Also note that one of the biggest cost if you go private will be the obstetrician fees - can range from 2K to 5K depending on who you go with. Medicare will only cover a fraction of this cost eg like 400$ (although you will qualify for the medicare safety net which will make other tests like ultrasound cheaper). There is no fee if you go public but you do not get to choose your obstetrician.

  • 

    ESEMCE on 06/06/2014 - 07:58

    This is my point..
    You pay all the Private Health Premium and you're still up for thousands!

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  b2tf on 05/06/2014 - 22:15

  is it possible/easy to 'downgrade' the cover in future?

  yes it is - but then you will need to wait another 12 months with pregnancy cover for the next child - so timing is crucial.

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  countmein on 10/06/2014 - 18:14

  Thanks guys, your inputs give me some ideas what to do.
  I have no preference of obstetrician and am quite surprise with checkup fees etc..thanks for the heads up.
  Apology for misreading your comments b2tf, got it now.

  • 

    pyramid on 10/06/2014 - 18:16

    Also you can use betterbills to get some cashback while buying health insurance.