Hi,
I am 18 years old and am wondering if I should join a health fund or private healthcare or whatever.
When I get sick, I am perfectly happy to go to a bulk billing local doctor and do not think I will be seriously ill anytime soon and would be fine in public hospitals if that changed. However, I do need glasses and biannual trips to the dentist. Is there any health fund that would work out making optometrist and dentist visits cheaper and thus having a health insurance worth it?
Perfect answer, thanks mate!
Definitely worth it if you use it. Extra cover only is $13.20/m with ahm. Routine dental has a $400 annual limit. Physio, chiro, and osteopath have a combined shared limit of $300/year.
https://ahm.com.au/health-insurance/black-50-saver-extras
This plan includes optical + other stuff, https://ahm.com.au/health-insurance/black-60-extras
If you get this cover, you will spend $162p.a. on cover, and get back 50% of what you spend on dental up to $400, with the same deal for physio/chiro/osteo and ambulance cover.
If you spend more than $324 on dental each year, you would be in front. Twice a year to the dentist is double most people, so maybe you will hit this?
If you spend more than $800 on dental there are better products.
Note that ambulance cover is worthwhile to have, and maybe the physio/chiro/osteo if you might have sports injuries etc.
Adding optical more than doubles the premium, so I would stick with the $15 online glasses people and get your eye test bulk billed.
Definitely worth it if you use it.
Far from definite if you're not doing it for tax purposes.
Take your AHM example. You get 50% or 60% back on extras. If you want Dental and Optical that's $364 a year. To make it break even you'd have to regularly spend a minimum of $728 every year on dental and optical.
Couple into that the optical taps out at $200 a year and has a 6 month waiting period.
Specsavers have frames/lenses that star from $40. An average dental check/scale/clean/fluoride is $230 but can be had for $150 if you shop around (according to Choice link here ). Two dental treatments ($300) and new glasses ($40) are costing $340 out of pocket a year with no insurance. With that AHM insurance (even ignoring waiting periods) the cost for these same services would be $500 ($364 for insurance + $136 as 40% out of pocket).
You're $160 worse off. And that's assuming you use both dental and optical every year.
There's a reason private health insurers rake in massive profits, and it's not because regular customers come out on top.
To make it break even you'd have to regularly spend a minimum of $728 every year on dental and optical.
Check groupon/scooopon/etc for good deals on dental. It might not be your choice of dentist and they might try to up-sell you in the chair, but there can be decent deals, if you just need a clean and checkup.
Plenty of websites selling prescription glasses for <$20/pair these days
Could I sing up to an AHM plan with no waiting period, go to the dentist and quit within a week? That obviously sounds too good to be true
Hi, [@sp00ker](/comment/4963184/
"Plenty of websites selling prescription glasses for 《$20/pair these days". Could you please recommend some here for me. Heaps of thanks.
Hi all, Would recommend having a look at the Qantas Assure Basic Extras. $6.98 a week for dental - $600, Optical - $250, Physio - $350 and ambulance cover (read the PDS). They also give you 5k qantas points. Just food for thought. Most of them have a 2 month waiting period.
Could you please recommend some here for me
I don't use glasses, so I don't have a recommendation. Google shows up:
https://www.selectspecs.com/au/cheap-glasses/ - $14
http://www.zennioptical.com - $6.95
Of course it depends on exactly what you need.
When i looked into the quote, i also inputted my qantas frequent flyer details on their website.
@Cheapcuda: Thanks. If I start from the Basic Extras page, I get nothing. If I start at the Assure homepage and say I'm switching providers, I get the bonus points…
earning well over 90k/year = No
31+ = Soon
very high risk health profile = No
what about above ?
Yes - if you ever plan on having Private Health Cover in your lifetime.
You really want to avoid the Lifetime Health Cover Loading because it literally stays with you for life.
There's a calculator here so you could work out the cost/benefit but it adds up pretty quickly. If you're intending to every have health cover in your life then it's basically worth getting it from 31 onwards - just make sure the cover you get suits your risk profile (so as cheap as possible whilst covering your needs).
OP is only 18. the LHC loading really isn't gonna be a factor until one is 31
@Love a bargain: I was replying to phunkydude with that comment who lists:
earning well over 90k/year = No
31+ = Soon
very high risk health profile = No
what about above ?
To the OP I already said it's not worth it.
YMMV.
Greatly dependent on what dentist you go to and what glasses you need.
You can just buy Extras independent of Hospital cover.
It's what we do.. Extras for Dental, Optical and Ambulance cover.
Assuming you use Dental and Optical services through the year, the balance of the Premium is likely cheaper than Ambulance cover on its own.
Which provider do you do with?
Currently NIB, previously Bupa (but they tried to screw us over on a technicality for an Ambulance claim - Ambulance came but we didn't get transported anywhere - therefore "it wasn't an emergency"…) We jumped ship and then their retention crew agreed to pay the bill… NIB's cover is slightly different but suits us better so we stayed with them.
Ambulance came but we didn't get transported anywhere
Did they provide treatment?
That's incredible to hear.
P.s. I'm currently with Bupa too :(
extra on it's own is worth considering if you use dental and optical (and who knows, you might even need physio every once in a while)
also bear in mind that there are dental practices that doesn't charge any gap and there are often no gap deals at certain optometrists, which are only available if you've extra cover
Ambulance 👍.
I pay $1200 per year for my health insurance and I get this back:
$500 dental
$200 Optical
$250 Chiro
At the end my insurance costs me $350 + I save around $1000 on TAX so its win for me
Depends on how much you earn. If you're in less than 90k a year (so you won't get hit with the Medicare levy surcharge) and you're only planning on claiming dental and optical it's absolutely not worth it.
Your cheapest basic cover will be about $16/week. That's $832/year. If you go to the dentist twice a year and get glasses once a year there's no way your rebates would be anywhere close to that amount.
Private health insurance only makes sense if you're earning well over 90k/year and/or you're 31+ and/or you have a very high risk health profile. I doubt you fit any of these categories.