Medicare Levy Surcharge

Discussion in 'Accounting & Tax' started by coins, 8th Jan, 2021.

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  1. Heinz57

    Heinz57 Well-Known Member

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    Very polarising the private health debate. Never hear this with other forms of insurance :
    Home insurance: "Oh my property never burned down this year, what a waste of money"
    Life Insurance: "Oh I didn't die this year, what a waste of money"
    :p
     
  2. SatayKing

    SatayKing Well-Known Member

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    Both can be arranged.
     
  3. MTR

    MTR Well-Known Member

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    Life insurance, never bothered with this

    Home insurance, you can significantly reduce premiums by increasing excess. When you have a large portfolio it can be very costly, this is one way of reducing costs but still covered for any impending disaster
     
  4. kierank

    kierank Well-Known Member

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    Interesting.

    For some, it is a mandatory requirement when one takes out a loan, especially in the early stages of their property journey.

    Some have it as part of their super although many aren’t aware of it.
     
  5. maroon

    maroon Well-Known Member

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    Public funds don't pay for burnt down homes and deaths. On the contrary, public funds cover a huge chunk of healthcare needs. The debate is whether you'd be ok with mid level health cover via the public system vs top level cover via private.
     
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  6. kierank

    kierank Well-Known Member

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    My golden rule regarding insurance is:

    “If I can’t afford to lose it, I can afford to insure it”​

    One example is life insurance. When I was younger, I had it as I didn’t want to leave my family destitute should the unthinkable happen. Now I am older and financially independent, I no longer have the need.
     
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  7. Tillie

    Tillie Well-Known Member

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    After my experience last year I'll use private hospitals even for emergency in the future. Last year (in the middle of corona lockdown) I experienced massive pain in my stomach and went to a public hospital (actually one of the best ones here in Melbourne). Waited for hours in pain. Finally a doctor attended and after a few test and a fair dose of morphine told me that it is most likely a gall bladder issue, sent me home with the pain killers and said that the issue can be dealt as outpatient and asked me to go to see GP.

    A few weeks later same happened again and at this time my GP told me to go to a private hospital emergency department. Got seen straight away, CT scan ordered (not done in public hospital) and I ended up to the operating table 1.5 hours after entering to the hospital. My appendix was about to burst. According to my surgeon I clearly had a problem already when attended in a public hospital.

    Total cost with the private health cover: $250,- emergency department fee. My health insurance covered everything else, tests, surgeon, anathesist, operating theater fees, private room. Later I saw all the cost on my private healh insurance statement, well over $5k.

    The decision: will definately keep my private health insurance
     
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  8. kierank

    kierank Well-Known Member

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    That is my experience too.

    Public health is not as good as private health.

    I value my health and my life. So I ...
    ... especially as we can afford it.
     
  9. Joynz

    Joynz Well-Known Member

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    Did you go to see your GP the next day following the recommendation by the treating Doctor at the public hospital (The Alfred, I assume)?

    Or did you wait until the pain occurred again?
     
  10. Tillie

    Tillie Well-Known Member

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    Went to GP the next day. Got ultrasound done for a gall bladder and that did not show anything weird (the problem was not a gall bladder but appendix!) and beacuse I still had the nagging pain GP gave me a referral to a specialist while still waiting the appointment pain level intensified.
     
  11. Luca

    Luca Well-Known Member

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    I heard in public even if you are referred by the top doctor who works in private & public hospitals, if you don`t have private insurance there is a chance you get the surgery done by the 2nd / 3rd in charge. Not sure if true. We had a pretty bad experience with the public for our first child: the aesthetician who executed the epidural used antibiotics instead of anesthetic (swapped the two). Top public hospital in Melbourne. Only another similar case in Australia and like 10 in the world. Guess what will happen for the second one ;-)
     
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  12. Shazz@

    Shazz@ Well-Known Member

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    Mistakes happen in private hospitals too.
    WA woman suffers stillbirth after clinical error
     
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  13. Paul@PAS

    Paul@PAS Tax, Accounting + SMSF + All things Property Tax Business Plus Member

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    WTF. I have heard of the wrong type of anesthetic in epidural. Wrong "type" of drug and its all over as not all drugs go well in the spine. Reminds me of the babies given nitrous when it was meant to be oxygen in a birthing suite. One died. Other profoundly disabled. The gas company got the bottles repiped all wrong !!

    Some say 18,000 deaths a year but there is no accurate data. Do you think they will admit all errors ? If medical issues were reported like recalls to electrical appliances we may know more.
    https://www.smh.com.au/politics/fed...a-hidden-from-the-public-20191103-p536zy.html
     
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  14. Westminster

    Westminster Tigress at Tiger Developments Business Member

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    Back to the question at hand, for many people it is worthwhile getting private insurance instead of paying the MLS. Beware of junk policies that don't always meet the requirements and you end up paying for the junk policy AND the MLS.
    It is up to you then if you decide to use the policy or not and go public or chose to go private in a public hospital or go fully private. There are pros and cons to all of the choices depending on what is wrong with you.
     
  15. Luca

    Luca Well-Known Member

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    Definitely, I honestly think we have been unlucky, we have done plenty of due diligence on doctors & hospital.

    Same syringe hence the mistake. I must say they gave the anesthetic too straight after so no pain. There should be a serious investigation that was promised and not completed. Very difficult to prove damages when there is not enough literature on similar cases.
     
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  16. tedjamvor

    tedjamvor Well-Known Member

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    This is what spikes PHI rates. It's the public system, what are you paying for that the government/medicare doesn't?
     
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  17. qak

    qak Well-Known Member

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    Yes - if you are in a public hospital, don't use your private health insurance because you won't get anything more for it. And if they suggest you will, get their details and call them out on it.
     
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  18. Joynz

    Joynz Well-Known Member

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    I am interested in the reference for this - that people using a public hospital as a private patient spikes private health insurance rates.
     
  19. Paul@PAS

    Paul@PAS Tax, Accounting + SMSF + All things Property Tax Business Plus Member

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    Benefits of a private patient in a public hospital include queue jumping ahead of all public patients excepting cases involving imminent death, private room if available (priority over public patients). Technically you cant choose Doctors but we all know you can. Many in Govt argue its wrong and hae done for decades but it is what the Medicare and PHI agreements allow and it is NOT illegal. Its how public hospitals make serious cash and despite what anyone in state Govt says they welcome the cash.

    Even the PHIs save money since they are only paying the public hoospital bed rates and theatre fees, not that of a private hospital. The health fund saves money too. They ONLY ever pay the scheduled fee anyway so there is no disadvantage. The patient can also reject paying any excess requested by the hospital since they are happy to get what they can... Its 100% more than they get otherwise. Medicare already funds the states to fund the hospitals. Its extra cash in their budget. Ironcally all public hospitals budget PHI payments and chase this line of business but are discrete to not upset parties involved.

    Health funds budget private / public patients and to suggest it pushes up premiums is possibly incorrect. It would only do that if actual patients using public hospitals were to exceed their budgets for that same group.
     
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  20. Westminster

    Westminster Tigress at Tiger Developments Business Member

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    Last time we got admitted via emergency we were offered to be treated as a private patient in the public hospital. Benefits were - private room (not 4 bed ward), meals for partner, parking vouchers, senior/consultant Dr (not juniors) and a few other perks.
    I don’t see how it raises PHI costs? But it does help the hospital’s budget.