Environmental per annum right now in Australia and the

Environmental
pollution is an inevitable consequence of recent advancements in industry and
technology. These factors have made us more susceptible to complex diseases
consequently raising the insurance premiums. 
According to a statistic, the medical insurance premium is rising by
approximately 5% per annum right now in Australia and the situation is so worse
that even middle-class people can’t afford the costs. Hereby we will talk about
the ways by which you can get rid of this huge burden.

How
to reduce the premium cost:

We Will Write a Custom Essay Specifically
For You For Only $13.90/page!


order now

1.
Citizen of younger ages can opt for co-payment or higher voluntary excess. In
this policy, the amount of insurance premium reduces proportionally to the
claiming amount, provided by the insurer company. But these policies are
riskier for the elderly person as they are likely to face costly medical
treatments.

2.
You have to carefully read the policy whether it contains the facilities you
are looking for. Sometimes you will discover some policies of the relatively
lower amount being enough to meet your medical requirements. For example,
paying for obstetrics or IVF makes no sense if you are an aged people.
Similarly, a policy covering knee replacement will hardly benefit a younger
one. Especially you should avoid policies which demand higher premiums against
useless ‘acupuncture service’ or ‘gym membership’.

3.
You should buy an insurance policy as early as possible, at least before the
age of 30. Because: the value of the premium rises exceptionally with the age.

How
you to get rebates and refund from the Government:

Australian
Government offers a scheme through which you get the partial or full refund of
the premiums. There are two eligible criteria: firstly you have to be eligible
for Medicare and secondly, you must have a health insurance policy from a
private hospital approved by the Government. You can apply for rebates by the
following ways —

1.
You can claim the rebated amount during annual tax return. In this case, you
have to approach Australian Taxation Office, fill and submit the form.

2.
You can also apply for premium reduction as a rebate. Here you have to register
with your health fund and fill the form up.

The
above-mentioned procedures and strategies will definitely benefit you to bring
an equilibrium between your income and expenditure.