Medical insurance - lifetime health cover save money!

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Medical insurance - lifetime health cover save money!

Australia Expat Forum for Expats Living in Australia

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Medical insurance - lifetime health cover save money!

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7th June 2008, 10:05 PM

kaz101

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Join Date: Nov 2007

Location: Limestone Coast, South Australia

Posts: 4,562

Rep Power: 481

Originally from england.

Expat in australia.

Medical insurance - lifetime health cover save money!

Hi everyone,

We've only just been told about the exemption for new migrants....

Lifetime Health Cover (LHC) is a financial loading on your private health insurance hospital cover. At present the loading is 2% per year you are over 31. For example if you take out hospital cover at the age of 40 you'll be paying 20%.

HOWEVER if you are a migrant and are over 31 there is a special exemption ONLY if you take out private health hospital cover within 12 months of being registered for Medicare. For us that's saving us 24% loading on our health insurance.

The link for more info is PrivateHealth.gov.au.

BTW This was in Dolly's post about things to do when you arrive but I must have missed that part or I forgot

Regards,
Karen

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Last edited by kaz101; 7th June 2008 at 10:08 PM.

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