10084 replies to this topic

[Adam]

NECKPAIN AND HEAD PAIN


HEY dudes

[skillionaire]

The good thing is you don't whinge about it all the time

[Adam]

I hate that it will waste my day, cubt

[skillionaire]

What medical cover do you have?

[Adam]

None

[Bumpty]

You're forked.

[Adam]

You're

Ninja

[skillionaire]

If you don't do it before July 1 you will be screwed for the rest of your life!!!!!!!!!!!!!

[Bumpty]

You are a FORK short of a cutlery set.

[Hypnotic]

That's what I was told last year as well.
For both above comments.

[skillionaire]

If you don't get it before July, the day you turn 31 your premium will attract a loading which is increased annually!

 

I can't find anything saying you can get cover and stop this? It's weird.

[Hypnotic]

I ended up getting cover

[skillionaire]

I'm only looking because I've never really checked to see if I'm getting a good deal with HBF.

[Adam]

What? I don't understand. What's the loading? We can't afford health cover and have no use for it....

[skillionaire]

For most singles with a taxable income over $88,000 ($176,000 for couples, families and single parents) the government will charge an extra 1% in tax. This is called the Medicare Levy Surcharge (MLS) and occurs if you don't have private hospital cover.

The MLS will increase to 1.25% if you earn over $102,000 ($204,000 for couples, families and single parents) and 1.5% if you earn over $136,000 ($272,000 for couples, families and single parents).

So depending on your circumstances, you may be able to buy basic hospital cover that is cheaper than the surcharge that has to be paid in additional tax. The government will then waive the MLS depending on the period you hold cover and the type/level of cover held, and you could walk away with a great health insurance policy!

Ontop of that is the Lifetime Health Cover Loading;

 

You could end up paying more for private health insurance over your lifetime if you don’t take out hospital cover before 1 July following your 31st birthday. If you join after this time, you may be required to pay a 2% loading on top of your premium per year for every year you are aged over 30 and do not have private hospital cover, up to a maximum loading of 70%.

For example, if you take out private hospital cover at age 45 you may pay 30% more than someone who took it out at age 30.

The Private Health Insurance Act 2007 now includes a provision requiring health insurers to cease including the loading to the basic premium after ten years continuous hospital cover.

[Adam]

So I need to get it before 30 or before July 1st?

Also I'm nowhere near earning that much annually

[Hypnotic]

I got it mainly for the over 31 tax.

Oh, and i need it for dental work.

[simon]

Anndddd we have a settlement date.

[Adam]

Nice one, Simo! Any pics?

[skillionaire]

Yeah I got it for the +3o thing; Adam, from now on once you turn thirty you have until the 31st of July nearest coming after to your birthdate to get healthcare, otherwise you will get a loading on when you eventually do sign up, so the idea is you don't wait until you're about to need full time death care to get it.

Nice one SImoO!O!OO!O!!!O!OO!O!O!!

 

!00!