Hi all,
I am planning to take private hospital cover to avoid the Lifetime Health Cover loading.
Wonder if you guys could suggest some economic option, which will cater for this?
I tried to use websites like iSelect; however, I think they only compare a selected providers.
Please give your comments.
Plus betterbills have referral bonus as well. Check betterbills referral wiki.
If your just doing it to avoid the loading, its not that much of a difference… you save much more money if you just dont get the health insurance.
That's exactly my thought. But I wish someone could argue with it and explain why this way of thinking is incorrect.
Right, thanks. I read that one already and not worried about MLS. Trying to understand pros&cons of the loading thing. So far it seems to me that there is very little benefit of having private hospital cover to avoid loading.
The LHC is such a small part of the cost that paying for even just one year of cover you don't need would exceed all the LHC would ever cost (remember it is capped, and reduces for each year you maintain cover in future).
It is like buying Foxtel now when you don't have a TV because they promised to lock in today's price and you might get a TV one day!
I have health.com.au basic extras 75%. Probably not the cheapest option if you're only interested in avoiding the lifetime loading, but it's excellent if you claim on extras. I claim dentist, periodontist, chiro, optical and get most of my premium back through those, with the added advantages of having hospital cover, and avoiding lifetime loading and MLS.
It's way cheaper for my circumstances compared to my previous insurer Bupa.
the only time LHC will affect you, is if you eventually plan on getting hospital cover when you are older. There's no need to get it if you never plan on getting hospital cover when you are older.
if you're unsure as to whether you'll end up getting it ( which id assume would be the most people) then you'd have to weigh up pricing ( like some people have mentioned above ).
If you are looking to take the cover only to avoid the LHC - go to betterbills.com.au and look for the cheapest one. I did this last year and signed up with Frank and got some cash back from betterbills.