Just got an email from Kogan introducing their Private Health Insurance.
https://koganhealth.com.au/?utm_source=MailList&utm_medium=e…
I am not with any insurer at this moment and considering getting some coverage.
What do you think of their products?
Cheers
If you don't have coverage at the moment, one of the most pertinent questions is do you need it? https://www.doineedhealthinsurance.com.au/
If you do, bury yourself in the fine print for the product you want to take up and see what it covers.
These products are issued by Medibank Private Limited ABN 47 080 890 259 trading as ahm health insurance, a registered private health insurer, and is arranged by Kogan Australia Pty Ltd trading as Kogan Health for which Kogan Health receives a commission.
Makes you wonder if you can get the same thing going directly without paying Kogan a commission, so seems prudent to call up ahm and see if they would beat the price of whatever quote you are getting.
Good link.
Three things to consider:
1 - Salary over $90K
2 - LHC over 30 YO.
3 - Current status of your health
Cheers
sorry i thought its not salary that dictate but "taxable income" am i correct?
No.
Gross Salary = Taxable Income. .. and if you have more than one "taxable" job equating over $90K PA
The Government gives you a choice;
If you earn over $90K PA: (Tier 1)
1 - Don't pay for Private Health Insurance and get taxed (thrashed) an "additional" MLS of 1% = at least $900
2 - Pay for Private Health Insurance and don't pay additional MLS …
Many ppl in this bracket go for Basic Private Cover to avoid tax however that is a "Junk" cover IMO. If you are going to get thrashed by the taxman, at least get Medium-Tier cover so it's worth it.
It is your democratic choice!
https://www.privatehealth.gov.au/healthinsurance/incentivess…
Cheers
@vinni9284: what if someone has income from dividends, property investment. then it will be correct to say taxable income not salary, right? salary usually means from a job that pay regularly. and to avoid that extra surcharge MLS thing you need hospital not just basic cover, i think.
Well, I believe that dividends and investment is classified as "taxable" income hence if you make over $90K PA combined, then you will get taxed the MLS.
Please speak to your accountant which will clarify this for you as I am not qualified in this field.
This is advice only.
Cheers
@vinni9284: thats why i contested your first point 1 - Salary over $90K.
it is more correct to say: 1 - taxable income over $90K.
someone can have salary $80k only but received $12k in investment rental, and $5k in dividends, plus other things. he need hospital cover otherwise get hit by MLS.
im not accountant too.
No. I think you are wrong. Sorry
An investment property is a form of a business. You rent out your house for a fee and "earn" a "taxable" income of $12 KPA
Do you declare your rent income at tax time??
You also claim that you "receive" a dividend (earnings) of $5K PA in other things?
Do you declare your dividends at tax time??
Therefore your "combined claimable taxable earnings" are $80K + $12K + $5K = $97K PA
The only way you wont get slugged by the taxman is that you don't declare tax for the above less earnings PA.
I am no Accountant but it is really a no brainer here.
Speak to an Accountant I am very sure that they will say the same
1 - not there yet
2 - soon
3 - now ok but you never know tomorrow
what's your call based on above
Well, you don't need Private Health if you really don't fit the above criteria.
Don't waste your money as you are will be out of pocket if you join & claim .. and you're still young IMO.
The only good thing about Private is that you "may" have a choice of Doctors & Hospital. Furthermore, you are usually not on the waiting list.
It's subjective so if you think it's worth having then opt for it. You have to do more research if it is for you.
Many go public and they are happy. Usually many Doctors worth for both private and public however with public you don't have a choice.
Insurance is that. They want you to pay but when it's time for them to pay … it's a different story. Usually they're are out of pocket expenses with Private
Edit: Private Health cover PDS is clear as mud. It is really complex and hard to understand what they do or do not cover. Isn't that they way of Insurance companies? Well I hope they make it clearer however I think when reality strikes and they come out clean, they will probably cover you for only minimal which as a result will equate to an exodus. They don't want that!
Insurance always sells by the "what if something goes wrong" factor
Cheers
@vinni9284: and dont forget you are allowed to have "3 years less a day" without cover. not many know this :) obviously all the health provider wont tell you!
Well that is the way it is with the calendar years, also telcos do it too…
The most important thing is that you are covered through the duration of your yearly membership.
It's not great. The amount returned per visit is really low. Eg $20 for remedial massage
Don’t need private health care anyway.
Has anyone signed up to Health Insurance via Kogan Health?
I am in the process of switching providers from BUPA to AHM (and I know Kogan Health is basically AHM).. Their health insurance websites are identical, just different branding - same packages..etc
Both currently offering the same EOFY promo, ie Free month + waive extras wait periods… The only difference is if you sign up through Kogan Health you also get a $60 Kogan voucher!
So am I missing something? Am I better off just signing up through Kogan Health and getting the bonus voucher? Assuming that after you sign up, you receive an AHM card, and all your account management is done through AHM portal directly?
It seems Kogan Health is offering $100 off plus the $60 voucher, compared to $50 off with ahm.
I called over the phone, but I think it just redirects to the ahm sales team, cause they told me it was only $50 off the Kogan Entry Flexi, when the Kogan Terms and Conditions said otherwise. It also failed when I tried signing up online through Kogan Health and told me to call them up.
Yeah, rebadged AHM - AKA Medibank Private
https://ahm.com.au/health-insurance
Same interface, different colours … I will have to compare prices.
Read their reviews: https://www.productreview.com.au/p/ahm-australian-health-man…
I was with Medibank and they were rubbish.
It seems like Health Insurance are becoming like Utilities LOL
AAMI Health Insurance = NIB
They are all jumping on the bandwagon.