Get a Low Cost Health Cover in NSW Using Government Subsidies
Making the decision to choose the best private health cover in NSW requires individuals to consider at several factors. First, assess the care offered by Medicare. While Medicare is a fantastic system, there are several areas of deficiency with Medicare that need to be highlighted. Within Medicare, you are limited in your choice of doctor, waiting times for procedures can be very long and high income earners without Private Hospital coverage are required to pay an additional tax levy of (at minimum) 1%.
Comparing this with private health care in NSW, and there is huge benefit to be found. There are numerous private health care options that offer instant service. With Private Health Insurance, you can choose your doctor from an incredible network of member physicians, waiting times for procedures are short and you pay no additional tax through the Medicare Levy Surcharge.
The Australian Government also offer a rebate to help make Health Insurance premiums more affordable. These rebates reduce the total cost of premiums. These rebates are offered to Private Health Insurance members as part of the governmental push to have more people opt for a private health cover in NSW.
The Government has also made Private Health Cover more attractive for younger people. By the age of 31, the Government will let you purchase private health cover at a standard rate. If you do not purchase private Health Cover after you are 31, Lifetime Health Cover Loadings can take effect. For each year after your 31st birthday that you waited to take out Private Health Insurance, you must pay an additional 2% on your health care premium. This fee is cumulative, so you could wind up paying additional costs through Lifetime Health Cover loading when you eventually do decide to join up later on in life. Avoid high premiums by taking advantage of government subsidies to get low cost insurance.