Navigating the terms and conditions of health insurance can be a bland activity, however, there are some key concerns you need to be aware of when it comes to claiming benefits.
It’s no secret – health insurance is an expensive but necessary part of life. With the latest changes in private health insurance rebates and rising premiums, costs are destined to climb significantly. In light of the ever-increasing monthly premiums, there has never been more motivation to ensure you are making full use of your entitlements.
The Reality – Use it or lose it!
Much like that of a mobile phone plan, most health insurance benefits don’t roll over into following period. Health Insurance providers structure their products on a forfeit and renewal system; if you do not use your benefits within the insured period, you effectively forfeit the benefit altogether.
You either use your health benefits, or you lose them!
Access Dental Care in Perth is urging their existing and future patients to make full use of their benefits when it comes to dental checkups and procedures. Health Insurance is there for a reason not limited to emergency or major health concerns. Many healthcare insurers know that a large amount of revenue is produced based on the fact that their customers either forget or simply don’t use their health plan to its full capacity. Don’t let insurance providers take your money and give nothing in return.
The Private Health Insurance Rebate
The private health Insurance rebate is a payment made toward health insurance premiums by the Federal Government. Prior to July 2012, this payment was available to all health insurance holders however it now is subject to means testing, higher income earners are assessed as to how much of the benefit they are entitled to:
The rebate fell 20-30% for singles who earn more than $88,000 and families who earn $176,000 where the rebate has now been removed for singles earning more than $136,000 and families earning more than $272,000.
If you don’t fall into one of the two brackets mentioned, there is more bad news. The rebate you do receive is dependent on the inflation rate – not the rising premiums charged by the healthcare providers.
What does this mean?
Surveys have been carried out of late to determine what impact the rebate changes are having on families across Australia. Private Healthcare Australia revealed that 12.5% of healthcare policies had been downgraded or cancelled altogether following the inception of means testing. The findings report that most people are opting to pay an excess or reduce the benefits of their policies in a bid to circumvent paying higher costs.
Most health insurance providers work their policies to run on the calendar year. Given that the end of the year is fast approaching, there has never been a better time to make full use of what you are entitled to. Access Dental Care in Perth is renowned in the area for being one of the most professional and affordable dental practices along the west coast of Australia. Our numerous treatment options provide a comprehensive answer to all dental your dental needs.