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Didn’t know about my option before seeing this post. Became quite interested though after reading it. I went to Medibank just now since I need to claim some expenses anyway. They gave me a brochure and after a quick reading, my rough findings are:
1 lower premium, around $110 per month for a couple, which is $30 less than our current policy
2 very limited hospital cover, in most cases, one has to stay in public hospital as a private patient
3 more variety in extras and higher annual limits. Apart from general dental and optical appliances, one can have the so-called flexi-extra to be used in a variety of services, such as physiotherapy or acupuncture. The annual limit starts from $350 per year and increases by $100 each year when you remain as a my-option customer until it reaches $750 in the fifth year.
4 Bonus available, starting from $100 in year 1 and then increasing by $25 each year until it reaches $200 in year 5. The bonus can be used on extras.
5 Still serves for taxation purpose to avoid Medicare surcharge. |
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