Health Insurance: Private vs. Government Part 2

8 01 2008 Autor: Administrator

We will now have a brief discussion of the government health insurance. This form of insurance program is obviously cheaper than the private health insurance. The drawback of the government health insurance scheme is with the lifetime health cover. Why? People who apply for a government health insurance on a later time in their lives will have to pay higher premiums. This is because of the added 2% annual surcharge.

The government health insurance scheme also has the Medicare levy surcharge which adds a 1% Medicare surcharge on the pay of unmarried people with an income higher than $50,000. Married people with income higher than $100,000 also have to pay extra 1% Medicare surcharge. This extra pay is added to the default 1.5% Medicare levy.

 Posted on: Tuesday, January 8, 2008 at 6:11 am and is filed under the category Private vs Govt.
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