Cheap Insurance

Insurance Information


What Price For Your Health?

UK Customers: Get 10% off Zurich Car Insurance when you buy online.

Buy Now


How do you put a value good health? For many it is priceless. So how much are you prepared to pay to seek the best medical advice available?

Private health insurance is one of those lifestyle choices all us of face.

Do you go with the system and use the health safety net that the public health-care program provides to all Australians? Or seek the extra security and choice provided by private health insurance?

About a third of all adult Australians have private health insurance with the industry worth $5 billion dollars a year.

But that figure is likely to increase. From July 1 there have been changes introduced to the cost of private health care and many people have rushed in to take advantage of the savings.

The initiative of the Federal Government has been to try and increase the number of people covered by private insurance. The great fear is that as the population ages the public health system will not be able to cope with the increases in pressure an aging population brings.

Baby Boomers, those people born before 1964, make up the largest segment of Australia's population and the demand for health services will increase considerably as they age.

The changes after July 1 have meant increases in health care contributions if you're over 30. There is a 2 per cent impost per year until you are 65 years of age, with the maximum impost being based on a 65-year old.

Get in early and you retain the benefits of no impost.

For example both a 65-year old and a 75-year old will both have a 70 per cent impost. This only applies to hospital cover and there is no impost on ancillary cover. This provides an incentive for people below 30 to buy private health insurance and retain it for life.

The premium is based on the age you join. So if you join at 35 you have a 10 per cent loading which you retain for the length of your cover.

Ricki Smith, Manager Corporate Relations with HBF says there are a number of benefits that private health insurance brings.

This includes choice of doctor, choice of hospital and location and timeliness.

"You can go to hospital when you want to and avoid waiting," she says.

"Some people think it is expensive and don't realize there is so much choice. There are so many options it does become quite cheap."

Additional options often include hospital room rates, dental, optical and physiotherapy benefits.

If you're in a higher salary bracket, for example earning over $50,000 a year as a single or over $100,000 as a family, there is also a penalty if you don't have private health insurance.

An additional 1 per cent higher Medicare levy to these income earners will cost over $1,000 a year. This is more than the cost of private health insurance.

Private health insurance buys peace of mind. But what if something goes wrong and you have a dispute with your insurer.

The Private Health Insurance Ombudsman handles complaints regarding health funds.

They receive 2,000 complaints a year covering about $80 million in transactions. This ranges claims ranging from $50 for a few physiotherapy visits to $50,000 for a multiple-heart valve replacement.

Norman Branson, Ombudsman for Private Health Insurance says their role is to act as the umpire.

He says about half the claims require the Ombudsman to take specific action.

"The biggest area is where somebody thinks they're covered and they ultimately find out they're not," he said.

So if you are in the market for private health insurance here are 10 tips to help you find your way through the huge choice on offer.

10 Private Health Insurance Tips

1. Work out what you want cover for - basic, hospital, dental, optical etc.

2. Contact a range of funds. Meet with them personally to discuss your needs.

3. Don't buy on price alone. Price is not the best determining factor. Look at the package and options available to suit your age and lifestyle.

4. Look for a product that suits your needs, For example you can save quite a lot of money if you're prepared to share a hospital room.

5. Look for a fund that has a good reputation for making claims in a timely way.

Thomas Murrell MBA CSP is an international business speaker, consultant and award-winning broadcaster. Media Motivators is his regular electronic magazine read by 7,000 professionals in 15 different countries.

You can subscribe by visiting http://www.8mmedia.com. Thomas can be contacted directly at +6189388 6888 and is available to speak to your conference, seminar or event. Visit Tom's blog at http://www.8mmedia.blogspot.com.


MORE RESOURCES:
This RSS feed URL is deprecated, please update. New URLs can be found in the footers at https://news.google.com/news


WCBD News 2

South Carolina School District Sues in Insurance Case
U.S. News & World Report
South Carolina School District Sues in Insurance Case. A South Carolina school district has sued a North Carolina insurance brokerage, saying it sold the district excessive policies and charged too much. Jan. 19, 2018, at 1:12 p.m.. South Carolina ...
The Berkeley County School District seeks $42 million in alleged insurance fraud schemeWCBD News 2

all 6 news articles »


Barron's

AIA Flourishes as Asia Life Insurance Booms
Barron's
What has made AIA such a success? For one thing, it's smack in the heart of the world's fastest-growing life-insurance market with to-die-for demographics. For another, AIA has made several bolt-on acquisitions to grow its Asian franchise, including a ...

and more »


Bloomberg

GE's Credit Risk Rises After Insurance Charge Spooks Investors
Bloomberg
The Boston-based company unnerved investors when it disclosed that it would take a $6.2 billion charge and set aside $15 billion in the coming years to add to reserves for a portfolio primarily of long-term care insurance policies. The announcement ...

and more »


pgatour.com

The First Look: News, notes on the Farmers Insurance Open
pgatour.com
Tiger Woods makes his return this coming week at the Farmers Insurance Open. (Mike Ehrmann/Getty Images). Tiger Woods commands the spotlight as he returns to familiar ground for his first PGA TOUR rounds since his latest back surgery, taking on a ...
Tee Time: What to Expect at 2018 Farmers Insurance OpenNBC 7 San Diego
Woods, Rahm, Rickie, J-Day headline Torrey fieldGolf Channel (blog)

all 6 news articles »


Jackson Clarion Ledger

Home inventories are necessary, but not as hard as you think
Jackson Clarion Ledger
It's a tragic picture that's repeated much too often: A family finds itself on the street, staring shell-shocked at the smoldering ruins of their home, or trying to pick their way through the wreckage after a tornado rampages through their town. What ...



Vox

Paul Ryan is lying to you about the Children's Health Insurance ...
Vox
Paul Ryan's absolute greatest passion in life, the thing that drives him and underlies all of his work in public office, is destroying government programs for poor and low-income people. This was behind his 2005 push to privatize Social Security; it's ...
CHIP: What to know about the Children's Health Insurance ProgramFox News
Let's remember: 9 million kids' health insurance is at stake in this budget fightWashington Post
Trump children's health insurance tweet contradicts, confoundsCNN
Billings Gazette -Business Insider -Daily Beast -Twitter
all 155 news articles »


Los Angeles Times

Why Montecito's mudslide victims don't need flood insurance to recover their losses
Los Angeles Times
To the editor: Law professor Kenneth S. Klein writes that Montecito flood victims should not suppose their property losses are covered by homeowners' insurance. Contrary to Klein's statement, that is exactly what they should suppose. (“Another lesson ...



Marketplace.org

Here's why more Americans now lack health insurance
Marketplace.org
Miller's husband lost his job at a rock radio station in Morgantown, West Virginia, after 20 years. “I was frightened,” she said. “Not because of him losing the job. It was losing the insurance.” Buying coverage on their own was too expensive. Medicaid ...



WCPO

Attorney General: Health insurance scammers targeting Ky. families
WCPO
Scammers are targeting Kentucky families seeking affordable health insurance, according to Attorney General Andy Beshear. Beshear issued a Scam Alert Friday after receiving reports that scammers who claim to be calling from “National Health Enrollment ...
Beshear: Con Artists Promise Access To Affordable Health Insurance For A FeeLEX18 Lexington KY News

all 3 news articles »


Omaha World-Herald

Report: Nebraska gets a B- for its property, casualty insurance market
Omaha World-Herald
From every dollar a homeowners insurance company collects from customers, it pays out a certain amount in claims. Think of needing a new roof after a storm blows through town. The amount paid versus what is collected is called the company's loss ratio ...


Google News

Cheap Insurance | Car Insurance Glossary | Zurich Insurance | Cheap Car Insurance | Car Insurance Quotes | Classic Car Insurance | Articles | Insurance | site map
© 2007 www.thecheapinsurance.co.uk - Cheap Car, Auto and Home Insurance