Private Health Insurance (VCE SSCE Health and Human Development): Flashcards
📚Flashcards
Practise the cards
10 cards from this deck
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Practise the cards
10 cards from this deck
Premium in private health insurance
Premium in private health insurance
Regular fee paid for insurance coverage
Hospital cover
Hospital cover
Pays for treatment when admitted as private patient in hospital
Extras cover (examples)
Extras cover (examples)
Dental, physiotherapy, chiropractic, optometry, dietetics
Four tiers (most to least comprehensive)
Four tiers (most to least comprehensive)
Gold, Silver, Bronze, Basic
Medicare's contribution to private patient doctor's fees
Medicare's contribution to private patient doctor's fees
75% of the doctor's Schedule fee
The gap
The gap
Difference patient must pay out of pocket after coverage
Lifetime Health Cover penalty rate
Lifetime Health Cover penalty rate
Extra 2% on premiums for each year over age 30
Medicare levy surcharge (who pays & rate)
Medicare levy surcharge (who pays & rate)
High earners without insurance; 1% to 1.5% of taxable income
Age-based discount (maximum %)
Age-based discount (maximum %)
Up to 10% for those aged 18-29
Private health insurance membership in 2020
Private health insurance membership in 2020
Approximately 47% of Australians had hospital cover
