Medicare v Private Health Insurance - Different strategies - Are you covered?

[KhunHeineken]

The topic of relying on Medicare in Australia for major medical treatment, versus private health insurance, either in Thailand, or Australia, has been raised in the Aged Pension Thread, which off topic in that thread.

 

Two members have suggested starting a specific thread on the topic. 

 

The below is not a poll, just some questions that may categorize members, and perhaps they can explain why they have chosen their particular strategy.

 

1)  Do you have private health insurance covering you in Thailand?

 

2) Do you have private health insurance in Australia? 

 

3) Do you have private health insurance in both Thailand and Australia?

 

4) Are you uninsured?

 

5) Are you self insured, or self funded? 

 

 

If I have missed an option, feel free to post it. 

 

I have private health insurance in Australia, and in Thailand.  I have openly stated I do not have faith in the public Medicare system in Australia to properly treat me, and in a timely manner.

 

The main reasons for this is you do not get to chose your doctor, so you could get someone very inexperienced, or not as competent, and the waiting list for elective surgery being years for some operations.

 

I know I can not claim on the Australian private health insurance policy inside Australia.  My strategy is, if I need some type of elective surgery, like a knee or hip replacement, I will fly back to Australia, get a top surgeon, and my own room in a private hospital, and the operation will be done within days, or weeks.  The insurance company will pick up most of the bill.  There may be a "gap" to pay, which I am prepared for.  

 

Should I have a motorbike accident in Thailand, for example, and need emergency treatment, to the point I can not board a plane, then I take my chances with what doctor I get in Thailand, and the insurance company pays the bill here.  

 

So, I am in group 3. 

[Fat is a type of crazy]

Have credit card insurance in Thailand for what is now two or three months at a time and private insurance in Australia. 

Your comments on Medicare are harsh - show me a health care system in the world that doesn't have stories of people dying unexpectedly and or mistakes. The fact is in many cases the cost of using your private insurance is higher than simply using Medicare and I consider the big hospitals often have better set ups than smaller private ones.  So in some cases I would use Medicare. The benefit of private insurance is to get fast treatment and to not have tax penalties while working.

If longer  periods are spent in Thailand might have to pay for some policy to cover for emergencies when I can't get back home -  see what happens.

[KhunHeineken]

3 hours ago, Fat is a type of crazy said:

Have credit card insurance in Thailand for what is now two or three months at a time and private insurance in Australia. 

That would tend to show you are not residing in Thailand full time. so not an expat.  Is that correct? 

 

3 hours ago, Fat is a type of crazy said:

Your comments on Medicare are harsh - show me a health care system in the world that doesn't have stories of people dying unexpectedly and or mistakes.

Agree.  Horror stories everywhere. It's just most tend to be from the public system. 

 

3 hours ago, Fat is a type of crazy said:

The fact is in many cases the cost of using your private insurance is higher than simply using Medicare and I consider the big hospitals often have better set ups than smaller private ones. 

Why is that?

 

Do you have a link for that? 

 

3 hours ago, Fat is a type of crazy said:

So in some cases I would use Medicare. 

Yeah, so would I.  Example: if I cut my finger slicing some food in the kitchen and need a few stitches.  Other than than, Medicare can be poor medical treatment, and untimely.

 

3 hours ago, Fat is a type of crazy said:

The benefit of private insurance is to get fast treatment and to not have tax penalties while working.

Sounds good, don't you think?  Who wouldn't sign up for that? 

 

3 hours ago, Fat is a type of crazy said:

f longer  periods are spent in Thailand might have to pay for some policy to cover for emergencies when I can't get back home -  see what happens.

So, you are not really an expat. 

 

Say you lived in Thailand full time.  What would you do?

 

Medicare is free, and you get what you pay for, and that is, who they want for the job, and when they want to do the job.  No thanks, not for me.  Yes, it's expensive, but what price do you put on your health / life?   

[KhunHeineken]

 

What a great health care system.  

[gearbox]

I have Medibank private health cover as if I don't have it I need to pay tax surcharge. I'm not sure if I'm going to keep it if I don't have to pay the surcharge. The public health system seems adequate for non-elective treatments.

 

For Thailand I have travel insurance with unlimited medical cover and evacuation, the current one is 9 months.

 

 

[Fat is a type of crazy]

8 hours ago, KhunHeineken said:

That would tend to show you are not residing in Thailand full time. so not an expat.  Is that correct? 

 

Agree.  Horror stories everywhere. It's just most tend to be from the public system. 

 

Why is that?

 

Do you have a link for that? 

 

Yeah, so would I.  Example: if I cut my finger slicing some food in the kitchen and need a few stitches.  Other than than, Medicare can be poor medical treatment, and untimely.

 

Sounds good, don't you think?  Who wouldn't sign up for that? 

 

So, you are not really an expat. 

 

Say you lived in Thailand full time.  What would you do?

 

Medicare is free, and you get what you pay for, and that is, who they want for the job, and when they want to do the job.  No thanks, not for me.  Yes, it's expensive, but what price do you put on your health / life?   

 I am a tourist only - 4 months this year -  not an expat now. 

Medicare can be cheaper for surgery say  - whereas private you'll normally have to pay some excess and then they might say there are these out of pocket costs and extra for this or that specialist. There was a whole 4 Corners story on it but it was some time ago. Googling it comes up with discussions on this. But as you say if there is a waiting list or you want a specific doctor private pays off. 

I think the public system in Australia is good. If I lived here full time I might need to find some sort of policy to cover emergency type stuff - not sure how long you can get away with using credit card travel insurance. 

[JimHuaHin]

Response - Option 3.

[Fat is a type of crazy]

3 hours ago, gearbox said:

I have Medibank private health cover as if I don't have it I need to pay tax surcharge. I'm not sure if I'm going to keep it if I don't have to pay the surcharge. The public health system seems adequate for non-elective treatments.

 

For Thailand I have travel insurance with unlimited medical cover and evacuation, the current one is 9 months.

 

 

If you pretty much live in Thailand for 9 months of the year does the credit card provider still consider you a traveller. I am wondering if there are restrictions at some point. 

[gearbox]

10 minutes ago, Fat is a type of crazy said:

If you pretty much live in Thailand for 9 months of the year does the credit card provider still consider you a traveller. I am wondering if there are restrictions at some point. 

I have travel insurance via my credit card, it has 6 months free insurance and I purchased extra 3 months. I also travel to more countries, not only Thailand. I was 2 months in Indonesia, now staying 2 months in Europe. Going back to Oz for 7 months next year.

 

This credit card travel insurance was the only one I could find without resident eligibility criteria. This is from the PDS:

 

Am I eligible for Complimentary
Overseas Travel Insurance ?
Cardholders
If you have an eligible credit card, you’re eligible for
Complimentary Overseas Travel Insurance when you:
a. travel to an overseas destination from Australia, and
b. hold an eligible credit card at the time of loss that has
been activated and is not cancelled or suspended.
eligible credit card means, unless otherwise specified, one of
the following issued by Bankwest:
– a current and valid Bankwest Platinum Mastercard credit
card, excluding Bankwest Platinum Zero Mastercard
– a current and valid Bankwest World Mastercard credit card
An eligible credit card that is not activated or that is currently
cancelled or suspended is not current and valid.

[Fat is a type of crazy]

2 minutes ago, gearbox said:

I have travel insurance via my credit card, it has 6 months free insurance and I purchased extra 3 months. I also travel to more countries, not only Thailand. I was 2 months in Indonesia, now staying 2 months in Europe. Going back to Oz for 7 months next year.

 

This credit card travel insurance was the only one I could find without resident eligibility criteria. This is from the PDS:

 

Am I eligible for Complimentary
Overseas Travel Insurance ?
Cardholders
If you have an eligible credit card, you’re eligible for
Complimentary Overseas Travel Insurance when you:
a. travel to an overseas destination from Australia, and
b. hold an eligible credit card at the time of loss that has
been activated and is not cancelled or suspended.
eligible credit card means, unless otherwise specified, one of
the following issued by Bankwest:
– a current and valid Bankwest Platinum Mastercard credit
card, excluding Bankwest Platinum Zero Mastercard
– a current and valid Bankwest World Mastercard credit card
An eligible credit card that is not activated or that is currently
cancelled or suspended is not current and valid.

Thanks. As an aside you have to keep an eye on these cards. I have an ANZ card that sent me an email recently dropping free travel insurance from 6 months to 3 months at a time. Then I got one from my Bankwest card which is a handy card with no annual feel and no overseas transaction fees - and they dropped off the free travel insurance totally. 

[gearbox]

17 minutes ago, Fat is a type of crazy said:

Thanks. As an aside you have to keep an eye on these cards. I have an ANZ card that sent me an email recently dropping free travel insurance from 6 months to 3 months at a time. Then I got one from my Bankwest card which is a handy card with no annual feel and no overseas transaction fees - and they dropped off the free travel insurance totally. 

Judging from the past credit card changes the conditions and the cover can only get worse. But I'll use it while it lasts. In the end it costs me $345 to get good 9 months coverage with approval for a pre-existing condition and written policy certificate with my name on it.

 

One very good thing about the credit card travel insurance policies is they don't increase with age - they only have cut off age. Most have cut off age around 80. The policies are free for both 25 and 80 years old with the same cover.

[CygnusX1]

14 hours ago, Fat is a type of crazy said:

Thanks. As an aside you have to keep an eye on these cards. I have an ANZ card that sent me an email recently dropping free travel insurance from 6 months to 3 months at a time. Then I got one from my Bankwest card which is a handy card with no annual feel and no overseas transaction fees - and they dropped off the free travel insurance totally. 

That’s bad news for me, was hoping to have 6 months free insurance until I turned 70 (when the medical part of the free travel insurance stops). It always did seem to be too good to be true. ANZ hasn’t sent me anything yet, and their website still states 6 months.

[CygnusX1]

14 hours ago, gearbox said:

I have travel insurance via my credit card, it has 6 months free insurance and I purchased extra 3 months. I also travel to more countries, not only Thailand. I was 2 months in Indonesia, now staying 2 months in Europe. Going back to Oz for 7 months next year.

 

14 hours ago, gearbox said:

In the end it costs me $345 to get good 9 months coverage with approval for a pre-existing condition and written policy certificate with my name on it.

So the $345 is for 3 months. Cheaper than I thought it would be. Delicate question, you’re not aged in your twenties or thirties?

 

[gearbox]

4 hours ago, CygnusX1 said:

 

So the $345 is for 3 months. Cheaper than I thought it would be. Delicate question, you’re not aged in your twenties or thirties?

 

I wish...61 now.

 

Another thing I get with this card is 10 MasterCard Dragonpass airport lounges per year, which I fully use so far.

[gearbox]

4 hours ago, CygnusX1 said:

That’s bad news for me, was hoping to have 6 months free insurance until I turned 70 (when the medical part of the free travel insurance stops). It always did seem to be too good to be true. ANZ hasn’t sent me anything yet, and their website still states 6 months.

I was lucky to get Citibank Premier Card fee free for life many years ago, it is a tier 1 card which provides 6 months free insurance up to 81 years old. However the business was acquired by NAB so removal or reduction of benefits is likely in the years ahead.

[Fat is a type of crazy]

8 hours ago, CygnusX1 said:

That’s bad news for me, was hoping to have 6 months free insurance until I turned 70 (when the medical part of the free travel insurance stops). It always did seem to be too good to be true. ANZ hasn’t sent me anything yet, and their website still states 6 months.

The changes are as follows:

• For International Travel Insurance:
  • Changes to benefit limits
  • Excess will increase from $350 to $500 where excess is applicable.
  • Period of cover for Platinum cardholders will reduce from 6 consecutive months to 3 consecutive months.

It looks like the Black card is still fine if you have that. 

[KhunHeineken]

On 9/30/2024 at 8:37 PM, gearbox said:

I was lucky to get Citibank Premier Card fee free for life many years ago, it is a tier 1 card which provides 6 months free insurance up to 81 years old. However the business was acquired by NAB so removal or reduction of benefits is likely in the years ahead.

I dumped all my Citi accounts when NAB took them over.