Health Insurance for <30yo

Brodo Faggins on 09/08/2023 - 16:20
Last edited 09/08/2023 - 16:56

Hi all,

I've scoured OzB Forums & comments and finding it difficult to piece together this whole health insurance thing.

I have no underlying medical issues (or really have the need for health insurance currently).

Just trying to get ahead to avoid the Medicare levy surcharge + keeping an eye for deals (once I know what I'm looking for).

1) Is just purchasing any el cheapo health insurance required to avoid Medicare levy surcharge?

2) Can someone explain waiting periods & "buy some periods, get some free"?

3) Cost benefits of extras (eg. dental / physio / chiro / eye care)?

4) What are some good deals to look out for (eg. QFF pts / waiving waiting periods)?

Appreciate it in advanced - I'll be ringing some call centres later this week, so would be good to have a general understanding beforehand instead of wasting their time.

Cheers OzB fam!

Health & Beauty Health Insurance Insurance

Comments

  • PissLUR on 09/08/2023 - 16:33
    +1

    Just trying to get ahead to avoid the Medicare levy + keeping an eye for deals (once I know what I'm looking for).

    medicare levy or medicare levy surcharge?

    • Unorthodox on 09/08/2023 - 16:38
      +6

      Honestly, so many people get caught out on this that they should just rename the damn thing.

      • netjock on 09/08/2023 - 16:55

        Can't avoid the levy but can avoid the surcharge so it must be the surcharge

    • Brodo Faggins on 09/08/2023 - 16:56

      Yes surcharge!! You can tell how much I know 😂

  • netjock on 09/08/2023 - 16:54
    +1

    HCF has a bare bones one for avoiding the levy surcharge but you need to call up to get it.

    • Brodo Faggins on 09/08/2023 - 16:57

      How's your experience with HCF & have you tried other providers?

      • Payne on 09/08/2023 - 18:13
        +1

        I'm on this and it's fine. Something like $40 a month.

        Gives you access to HCF Thank You too (rewards thing for cheap movie tickets etc.)

        • kds123 on 11/08/2023 - 10:31

          What's the name of the plan you're on? The lowest plan on their site is bronze plus which is more than $100 a month

  • Vulgar on 09/08/2023 - 16:55
    +3

    1) You need the bare bones hospital cover to avoid the medicare surcharge. Medicare levy will be incurred anyway but you'll avoid the surcharge of 1% - 1.5%. I'm assuming that you're earning over $90k since it's pointless to get insurance otherwise.

    3) Don't worry about the benefits if you're just getting the bare minimum insurance. They'll have signficant deductibles and don't really cover much of anything that you'll actually need.

    4) Just use the private health gov website to do a comparison. https://www.privatehealth.gov.au/dynamic/search

    • Brodo Faggins on 09/08/2023 - 17:00
      +1

      Right so if anyone is either <31yo, or earn <$90k, the surcharge doesn't apply?

      Say if I wanted physio or dental cleans anyway, better to fork out cash rather than use the "extras" on the cover?

      Amazing, thank you for the link!

      • Vulgar on 09/08/2023 - 17:05
        +8

        If someone earns under $90k the surcharge doesn't apply. The 30 year old threshold is another different can of worms.

        Basically if you never have health insurance and then apply for it later on in life let's say at 50 years old, your premiums will be quite high (40% more) because they penalise you for every year after 30 years that you skip out on having health insurance.

        I do quite dislike this system but you gotta play the game to get the best outcome for yourself.

        • Brodo Faggins on 09/08/2023 - 17:13

          Worm can indeed! So confusing, I've read on forums people 30+ not having health insurance and I just thought it was a personal choice thing. Didn't know what the fuss was with getting it…

          Great another "bs confusing, scramble, no right answer, govt backed" scheme, love it!!

          So basically, if you're hitting 30yo you must get it to avoid the exponential surcharge, irrespective of $90k?

          • CrowReally on 09/08/2023 - 17:45
            +3

            @Brodo Faggins: Risk of bad health outcomes go up later in life, which makes insurance policies more costly.

            Insurance is funded by healthy people not needing the policy payments going towards those that do, when they claim.

            So you tell young people they'll pay a lot more later on trying to insure unless they get in now. And thus you fund the insurance industry as healthy people are now paying insurance premiums.

            It's basically the only way insurance works as a concept.

            • Brodo Faggins on 09/08/2023 - 18:34

              @CrowReally: I understand all this, but then shouldn't they make it compulsory like CTP at 30yo, or if you've been in sports or machinery/labour career your whole life?

              What it sounds like is another rort scheme by the govt. They shouldn't make the surcharge go up after 30yo by not having it; should just be a choice. Like buying a car at any age & deciding to get comprehensive insurance over third party.

              • CrowReally on 10/08/2023 - 09:04
                +1

                @Brodo Faggins: Free will still exists, you don't have to have health insurance if you don't want to. There are costs involved in not having it (later premiums cost more, lower priority for getting some treatments, medicare levy surcharge), but there's costs involved with every free will decision.

                So no, it shouldn't be compulsory.

                Govt policy is private health insurance takes up some of the burden of the public health system, so they have a tax incentive for you participating in it. It's a big a "rort" as people getting tax deductions for donating to charities (again, charity offers something to society that makes govt life easier, they create a tax incentive for people to support them).

  • Drakesy on 09/08/2023 - 17:08
    +7

    Yeah get the sh1ttest PHI to escape the Lifetime healthcover loading/surcharge (Bronze hospital only, $750 excess). GOTTA LOVE PRIVATE HEALTH LOBBYSISTS AND JOHNNY HOWARD.

    But yeah, for me it was $1200 in tax or $800 for a trash policy. I'd prefer to give $800 to medicare but no, give it to the private healthcare leaches.

    • Brodo Faggins on 09/08/2023 - 17:14
      +4

      FMD yet another rort I have to subscribe to

      • Drakesy on 09/08/2023 - 17:19
        +9

        SUBSIDISING THE BOOMERS ALL THE WAY TO THE GRAVE

        • screensaver on 09/08/2023 - 17:45
          -6

          the boomers sacrificed their youth raising kids, their time and money, do you know how much you cost to raise?

          • Drakesy on 09/08/2023 - 17:49
            +2

            @screensaver: HI HELLOPAM, Please don't be this ignorant. I don't see the boomers subsidising their parent's healthcare…

            Not as much as it'll cost us to raise kids ;)
            There's a reason our birth rate is plummeting, they have to import immigrants just to stop our population from aging prematurely.

            Free uni
            Pensions fixed to CPI that'll cover them which will likely not exist when the X,Y, Z generation retire.
            Houses that cost something like 3-4x the median wage that were paid off within years.
            They didn't have to go up against the world's international millionaires when trying to buy a house.

          • Brodo Faggins on 09/08/2023 - 17:55
            +1

            @screensaver: Hi Graham,

            Yes you've sacrificed, but don't all parents regardless of generation?

            How about we get rid of all the pointless boomer rort schemes funding your retirement pension rort & health care system rort?

            • screensaver on 09/08/2023 - 17:57
              +1

              @Brodo Faggins: then there will be nothing left when you get there

              • Brodo Faggins on 09/08/2023 - 17:58
                +2

                @screensaver: Yeah because it's a rort scheme made by boomers, for boomers.

              • Drakesy on 09/08/2023 - 18:21
                +2

                @screensaver: Boomers have already raped and pillaged the economy, using house prices as a nest egg, pushing up prices knowing they'll get capital gains - even though they never intend on paying it off just to supplement their already huge superannuation nest eggs. Looking at you golden state super.

                Millenials will be the first generation that grows up poorer that those that precedes it.

        • Gdsamp on 09/08/2023 - 18:17

          We should just import more people

          • Ultimate Gattai on 11/08/2023 - 01:04

            @Gdsamp: Idk, seems like a bad idea at this point, we don't have the housing to support the people we have, let alone more, we should just build more social housing (plus get rid of negative gearing and actually buckle down on all the building rorts so we have some form of quality control again).

    • Trying2SaveABuck on 10/08/2023 - 19:40

      GOTTA LOVE PRIVATE HEALTH LOBBYSISTS AND JOHNNY HOWARD.

      i agree the PHI set up to avoid the surcharge is a scam but Howard has not been PM for 2 decades…….blame (insert current government) they are incharge they could change the tax system to get rid of the PHI scam but they (Albo and Jim) wont….

      • Drakesy on 11/08/2023 - 11:08

        It's more, he brought it in because they caved to the lobbyists demands, now the health system is set up as a two-tiered system and it's difficult to go back from it as the lobbyists now are more powerful/cashed up as far a justifying their existence.

        • Trying2SaveABuck on 11/08/2023 - 11:59
          -2

          I agree it is shit but it really isnt hard togo back just stop subsidies to the Private insurances companies?

          I mean anyone saying that is'hard to go back from' is talking rubbish.

          No company is entilted to government handouts if the benefit for the taxpayers is not there

          Perhaps in the 90s there wasa benefit to the surcharge but in 2023 it os outdated

          Similar to luxury car tax once upon a time it was a tax ppl understood but times change….it shouldnt exist…hold your government accountable…this government is garbage for working class ppl

          • Drakesy on 11/08/2023 - 12:17

            @Trying2SaveABuck: The irony when people think Labor isn't there for the working class…

            The funny thing is the voters for Labor are increasingly those city based upper echelon type who care about future generations. The liberals have a strange split where it's the blue collar, pensioners and the big business top 1% of earners that they play to. Where the entire party is working to keep the top 1% and pensioners rich while the blue collar workers who vote for them unknowingly get screwed over. Just look at the tax breaks they've handed out along with the huge amount of jobkeeper/seeker that kept big businesses running whilst the rest of Australia racked up a debt that'll last generations. Qantas received $850 million, Harvey Norman a huge amount as well

      • YesPleaseThankYou on 11/08/2023 - 11:16

        blame (insert current government) they are incharge they could change the tax system to get rid of the PHI scam

        The Liberals and Nationals were in power for a decade. Seems ridiculous for you to blame:

        Albo and Jim

        • Trying2SaveABuck on 11/08/2023 - 11:55
          -1

          Ruud, Gillard, Abbott, Turnbull, Scomo, Albo

          You got a mix of ALP and LNP PMs there neither made any channes to the PHI scam Australians face itnis pure bias and stupidity to blame one not the other.. .

          If anything Albohas increased taxes on low and middle incomes by getting rid of the tax relieve that Scomo had….it would be stupid to blame anyone bar the current government as they are the ones that cab make the change….

          • YesPleaseThankYou on 11/08/2023 - 12:00
            -1

            @Trying2SaveABuck: Between 2013 and 2022 the Coalition was in power.

            Source https://en.wikipedia.org/wiki/List_of_Australian_federal_ele…

            Labor has been in power since 2022. It has a decade of catch-up to do in terms of parliamentary priorities.

          • Drakesy on 11/08/2023 - 12:20
            -1

            @Trying2SaveABuck: Rudd, who along side Wayne Swan handed out a one-off stimulus cheque during the GFC and received the award for the best performing treasurer for the time.

            • Trying2SaveABuck on 11/08/2023 - 12:22

              @Drakesy: Lmao yes like Grace Tame won Australian of the year it is a bit of a joke when someone uses that as a defence.

              But ill say this Swann wasnt bad stimulus avoided recession but he also inherited the biggest surplus in Australian history, i didnt like Ruud man was an idiot too full of himself killed 1000s of ppl, Gillard was decent probablythe best of the leaders since Howard, Abbott was ok but Hockey was terrible, Turnbull was bad…. Scomo was bad, Albo is turning out to be bad maybe even the worst of the bunch…

              These are all my opinion the facts are your moaning about what i agree with the PHI surcharge on individuals earning over 90k pa is a scam.

              I agree but you fail to hold the government to account becuz you're bias.

              It isnt political ALP. Vs LNP it is a fact if you think the PHI tax evasion for the surcharge is dumb then you need to point the figure at whoever is incharge . .I said the same thing when the LNP were in charge ill say the same thing now…the fact your butt hurt and the other Left wing tradgics are kind of shows your just full of crap hold your government to a standard nomatterwho is in charge and you will get better governance

  • trustnoone on 09/08/2023 - 17:56
    +2

    Hay mate, have you tried: https://www.doineedhealthinsurance.com.au/

    Its definitely not going to tell you all the great things that users here will (and I think at the end it probably advertises somewhere?) but it helped me work out whether I should at the start.

    • Brodo Faggins on 09/08/2023 - 17:56

      I'm open to all research & recommendations - I'll check it out, thank you!

      Can you say in what way it benefited you directly?

      • trustnoone on 09/08/2023 - 18:07
        +1

        Oh its basically just a 60 second quiz to tell you whether you will or won't save money from taxes by purchasing health insurance based on your details.
        Helpful to see where you would vs wouldn't. For example if I got health insurance now, I'd save money on taxes, but because I'd buy it at over 31 there could be a Lifetime Health Cover loading compared to buying it earlier.

  • screensaver on 09/08/2023 - 18:06

    as a wise boomer I know a few tricks about health insurance
    1. Medibank has Live Better app which lets you easily earn points for free $200 premium and chemist vouchers, about to cash in another $100
    2 There is a cheap accident only poicy but most have too many exclusions however there are a couple that include ALL catgories as a private patient in a public hospital. Australian Unity has one. You can also get 10% discount with them by having a free bank account or being a member of naional seniors, which anyone can join. Also has Wellbeing Rewards, discounts on gift cards etc.

    • screensaver on 09/08/2023 - 18:10

      I just checked, their accident policy is not the one I recently saw, I will find out which fund it was and update

    • pao2x on 09/08/2023 - 20:01
      +1

      Accident only does not negate the MLS

      • screensaver on 10/08/2023 - 02:17

        as far as I kknow, it does and this one is not only for accidents, but covers illnesses as well as a private patient in a public hospital, in a shared ward there is no charge

  • screensaver on 09/08/2023 - 18:18
    +1

    here it is, also includes basic extras, its amazing at $18 a week https://www.latrobehealth.com.au/health-cover/healthy-start-…

    • miwahni on 10/08/2023 - 21:50

      First thing I saw when clicking the link is a big … "From $24 per week". Are you sure you posted the correct link?

      • screensaver on 11/08/2023 - 05:54

        yes, they make you take basic extras as well. Many funds have the accident only cover but I cant find another policy like this one that covers you in all categories as a private patient in a public hospital as well. Health.com.au used to have it without extras but they merged with Frank, and Frank doesnt offer it. Another fund may have this without extras but I dont know who.

  • Godric on 09/08/2023 - 20:07

    Was in same boat, went with HBF + Basic cover, for dental etc

  • jrvb42 on 10/08/2023 - 22:48

    This is such a subjective thing. I would never get private health until at least 60yo, probably 70.
    The age loading only applies for 10 years, which many don't know. The savings from not getting ripped off well and truly exceed the loading.
    Health insurers are private companies, and make healthy profits. Guess how they do that? Charge more than they pay out. Way more.
    Of course, it's a bit of a gamble, but hey, Medicare is the fallback.
    And the one time I needed private health, I was not covered at the highest level, so it was a complete waste. Paying to avoid the surcharge is simply directing your donation to the health companies rather than the government. Lord knows why the govt allow it as they miss out on revenue.

  • screensaver on 11/08/2023 - 10:35

    OP AHM has a youth discount you keep until you are 41!! I reommend the Simple Bronze Plus, has lots of inclusions https://ahm.com.au/youth-discount

  • screensaver on 11/08/2023 - 10:40
    +1

    So does Medibank, they also have a Youth Discount that locks in until 41. they also have acident override (top cover in event of an accident) and the Live Better app which gives you free $200 premium every year and other perks https://www.medibank.com.au/health-insurance/understanding-h…

  • Carpe Diem on 14/08/2023 - 15:36
    +1

    For me, I never saw the benefit from a cost/benefit persepctive until about 3 years ago.

    I knew the extras would always be a high priority for me, in particular dentist/massage/physio but it was never enough to warrang the expense. This changed for when I joined AIA and their Vitality wellness programme, is quite superb for my needs.

    For instance, I save 50% on my Virgin Active gym membership, which is about $1k annually. While there is also $760 cashback very easily attained too from hitting wellness goals. The Hoyts Lux tickets with 50% off too is another great perk for me, which I reguarly use.

    • Cardorac on 11/10/2023 - 20:32

      Hi, could you explain a bit further how the cash back works?
      Website seems to only advertise their 'free' apple watch promotion.

      • Carpe Diem on 05/11/2023 - 20:33
        +1

        AIA run a wellness programme called 'AIA Vitality' where you are awarded points for daily tasks e.g. # steps, attending the gym to going for eye, dental & fitness checkups. Its really easy to get the point & many different avenues with also meditation apps.

        They all score you points & you receive $5 a week from achieving goals. As you progress from Bronze > Platnium level of points you receive rewards >$500 along the way.
        It's a really nice alignment of monetary incentive & actually making you think about your health.
        I'm going for a health checkup & eye test this week in fact.

        • w33w00 on 07/11/2023 - 13:47
          +1

          Thanks for the information on this program. I'm going to look into it hard.

          37, WFH, don't eat great - yeah you get the picture. Even if it's a bit more in premiums, it's worth the extra years of life I'll get to spend with my kid by being further motivated to be healthy.

          • Carpe Diem on 07/11/2023 - 18:03

            @w33w00: It definitely points you in the right direction of what to do and to consider your health more.

            Re not eating well - This is an area I am very passionate about & like youve probably heard, I would try to avoid anything processed. If it comes in a box/packet then I woupd question it.
            Excessive carbs (cereal/bread/rice/potatoes & pasta) are a big problem in most diets & of course sugar.
            Fresh veg & mixed with eggs is a super easy and healthy way to make a change. Frittatas are easy and great!

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