Private Health Insurance Perth

Private Health Insurance Perth

.If you’re in Australia and looking for information on private health insurance in Perth, the below article from the Dept of Health & Aging may be of some help to you.

There are two types of private health insurance – hospital policies cover you when you go to hospital, while general treatment policies (sometimes known as ancillary or extras) cover you for ancillary treatment (e.g dental, physiotherapy). Most health funds offer combined policies that provide a packaged cover for both hospital and general treatment services, or you can buy separate hospital and general treatment policies to ‘mix and match’.

Lifetime Health Cover is a financial loading that can be payable in addition to the premium for your private health insurance hospital cover.

Lifetime Health Cover is a Government initiative that started on 1 July 2000. It was designed to encourage people to take out hospital insurance earlier in life, and to maintain their cover throughout their life.

The Commonwealth Government provides a 30% rebate on private health insurance cover. There are higher rebates for older people: 35% for people aged 65-69 years and 40% for people aged 70 years and over.

Anyone can claim the private health insurance rebate if they are eligible for Medicare and have a complying health insurance policy that provides hospital treatment, general treatment (‘ancillary’ or ‘extras’) cover or both.

Formerly known as Schedule 5 – Benefits payable in respect of surgically implanted prostheses, human tissue items and other medical devices.

Under the Private Health Insurance Act 2007, private health insurers are required to pay benefits for a range of prostheses that are provided as part of an episode of hospital treatment or hospital substitute treatment for which a patient has cover and for which a Medicare benefit is payable for the associated professional service.

Informed financial consent (IFC) is the provision of cost information to patients, including notification of likely out of pocket expenses (gaps), by all relevant service providers, preferably in writing, prior to admission to hospital or treatment

The Medicare Levy Surcharge is an additional 1% surcharge of taxable income. The Medicare Levy Surcharge is in addition to the normal 1.5% Medicare Levy.

Private health insurers are required to apply to the Minister for Health and Ageing for premium increases. The Government assesses private health insurance premium applications to keep increases to the minimum necessary to ensure insurer solvency, support forecast benefit outlays, and meet prudential standards, while also ensuring the affordability and value of private health insurance products.

These circulars are distributed to all Australian registered health insurance funds, Australian licensed private hospitals and day hospital facilities, Australian state and territory health authorities, other Australian health organisations and health service providers. The circulars contain important information related to Australian Commonwealth Government legislation which governs the operation of private health insurance and the licensing of new private hospitals and day hospital facilities in Australia.

The information above is from the Australian Government Department of Health & Aging website: Please check their site for the most current information.

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