Healthcare for Expats in Australia | Do You Need Insurance?
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What are the benefits of private medical cover in Australia?
No Lifetime Health Cover charge
The Australian public healthcare system is obviously not suitable for the entire country’s population to rely on, and the Australian Government recognises this. The Lifetime Health Cover (LHC) charge is one such way to push people into taking out private medical cover.
How does it work? Well, if an Australian doesn’t take out adequate medical cover before the 1st of July after their 31st birthday, they will face a 2% increase in their premiums every year from then onwards. This can tot up to a 70% surcharge by the time you’re 65, but it doesn’t increase beyond this point.
The LHC does not apply to new migrants, providing they take out private cover within 12 months after registering for Medicare. So, if you do plan to take out private medical cover for your move to Australia, it’s best to do it sooner rather than later.
No MLS
As we mentioned further up the article, if you’re a higher income earner (i.e. over AUD$90,000 per year), you can avoid paying the MLS by taking out medical cover.
Shorter waiting times
Like all public healthcare systems around the world, Medicare makes people wait for treatment. The most recent study by the Australian Institute of Health and Welfare (AIHW) showed that 50% of patients in 2020-21 had operations within 48 days, up from 39 days in the previous year.
Plus, 71% of ‘emergency’ patients were seen within 10 minutes (the recommended time frame for emergencies in Australia).
Comfort and peace of mind
This one applies to private medical cover all over the world. If you go private, you can choose your own hospital and doctor (from those affiliated with your provider), and you don’t have to worry about dealing with huge medical bills. Plus, you’ll likely have your own private room, which is rarely available in public healthcare.
Most importantly, you’ll have peace of mind that you can get good quality care as and when you need it.
