Hi everyone
as the subject says, does anyone have any recommendations on a cheap PHI in order to not pay for Medicare levy surcharge (MLS)?
At the moment the starter basic AHM seems to be the cheapest but would like to get some opinions on this.
thanks in advance
Thanks but I am planning for the next financial year i.e. 30/6/22
Do we need to get health insurance by the end of today to be eligible for 30/6/22?
Anytime from 1 July. But you will only be exempt for the days you have PHI. Say if take up PHI in September then you will pay MLS for June and July period
Frank is one of the lowest
Health.com.au (which is now Frank) was the cheapest for this financial year ending 30/06/2021.
Also looking to understand if they are still the best for next financial year…
AHM seems to be the lowest for me (although literally is a garbage policy)
Frank seems to be slightly more ($40/year) and actually covers you for things if it does go bad.
Having said that the whole private health thing is a joke given you're already paying the Medicare levy in your tax.
Literally an entire industry supported by lobbyists and the liberals who wanted a more expensive two tiered system.
I guess it's one way to subsidise the ageing population's drain on healthcare.
Frank will cover you for public hospital only, which is already covered by Medicare. Only point of having it is for tax reduction.
I'm one of those members of the ageing population.
Paid taxes (including Medicare levies) for 50+ years and now $400+ per month for private health insurance.
Enjoy the private health "joke" thing that you reckon subsidises me…..
TBH At least in your case you'd be more likely to utilise the health system.
Unlike healthy 20-30 year olds.
Also, you wouldn't of been paying the MLS all those years as it was only recently brought in
If you only need single or couple, HIF is the cheapest last time I checked.
Otherwise, check with your employer if they have any corporate plan with PHIs.
Just saying…. but if you're planning on doing it for the period ending 30/06/2021, it's too late. They do the MLS based on the number of days you're covered in the period (It's not a simple "yes" or "no" answer on whether you have PHI cover).