Private Health Insurance (VCE SSCE Health and Human Development): Flashcards

📚Flashcards
Private health insurance
Sign up to keep revising.Create a free account to study more flashcards and track your progress.

Practise the cards

10 cards from this deck

Show

Premium in private health insurance

Regular fee paid for insurance coverage

Hospital cover

Pays for treatment when admitted as private patient in hospital

Extras cover (examples)

Dental, physiotherapy, chiropractic, optometry, dietetics

Four tiers (most to least comprehensive)

Gold, Silver, Bronze, Basic

Medicare's contribution to private patient doctor's fees

75% of the doctor's Schedule fee

The gap

Difference patient must pay out of pocket after coverage

Lifetime Health Cover penalty rate

Extra 2% on premiums for each year over age 30

Medicare levy surcharge (who pays & rate)

High earners without insurance; 1% to 1.5% of taxable income

Age-based discount (maximum %)

Up to 10% for those aged 18-29

Private health insurance membership in 2020

Approximately 47% of Australians had hospital cover

Join 100,000+ SSCE students studying Flashcards with us.

Select your subjects, and get access to A+ resources today.