Hi all,
Which private health care are you with and why? I'm looking to get the most cheapest option for tax benefits.
MLS - Which Private Health Care Are You with and Why?
bargin424 on 11/07/2017 - 19:54
Comments
I'm on 1.25% at the moments and i was thinking of decreasing my taxable income to bring it down to the 1% range.
How much are you paying yearly for private health insurance?
About ~$1500 PA for Mid-level cover however my LHC will drop in October to 0% from 16%. When that happens, I will opt for top cover.
I pay up front to not get thrashed in April with price hikes.
But tbh, I will shop around every year for different providers.
No point staying with one for many years and you don't get rewarded. Especially when they advertise incentives to join (E.g. One month free or $100 credits) for NEW customers.
I might as well be a new customer as well to others and get their incentives. Then after a year, give them the boot to another.
No point paying Loyalty tax!!
Cheers
Hi there,
I am in the same predicament as you.
Depending on your MLS %, I would opt for top cover.
You'll be surprised how you will still be out of pocket even on the best of the best cover.
Their PDS is clear as mud (all of them IMHO)
However, if it is for legal Tax avoidance, then opt for full cover.
You might as well get something back rather than their junk cheaper policies that are designed for people like you and me (tax avoidance to offset cost) and give you nothing.
I was previously with Medibank Private and IMO are problematic and troublesome, especially after privatisation.
I opted for Frank as they are for not for profit and Product Review has many positive reviews on them. I have never claimed with Frank thus far so cannot say much.
You will know how good they are if you God-Forbid have to use/claim.
Cheers