485 Visa Health Insurance By HIF Is Lowest Cost

In February 2017 a comparison of policies found HIF has the cheapest 485 visa health insurance with:

• A $69 per month policy price that can be reduced by a further 4% if paid annually
• Full compliance with the Department Of Immigration And Boarder Patrol 485 visa requirements
• Full coverage for land based emergency ambulance transportation
• Coverage for public hospital stays (not private hospital)
• Coverage for a share room stage (no private room accommodation)
• $500 excess per hospital admission

HIF is a Western Australia based ‘not for profit’ health fund offering Australia-wide coverage.

How We Compared Health Insurance For 485 visa holders

This recommendation for HIF was made on the 6th of February 2017 based on the content found on each 485 visa health insurance provider’s website. This comparison was done by real Australians who have strong backgrounds in the Australian health insurance industry. Policy prices and benefits are subject to change in the future, so it’s recommended that you double check current premiums and inclusions to ensure that it fits your needs. This can also be done by downloading individual PDFs of each policy (or asking the health funds to send you the PDF) so you can then make a full detailed review and comparison. See top-line information on transitioning to a 485 visa from a student visa. You can also view other 485 visa holder health insurance comparison tables at our sister site 485VisaInsurance.

This site’s authors always try to provide the most accurate information whenever possible when comparing health insurance policies for 485 visa holders. But due to certain elements that are subject to individual interpretation based on your own specific requirements, and factoring in ‘human error’, it cannot guarantee the accuracy of every policy item. Feedback on policies, prices and other elements are welcome and updates will be made promptly to improve the site’s accuracy. As this is a manual review and does not use automation (e.g. feeds from the providers’ websites or other third party sites) the information is indicative and provided for general information only. Please refer to each health fund policy’s brochure for details on waiting periods, exclusions and other pertinent fine print.

Do I need Health Insurance For The 485 Visa?

To apply for a 485 visa you must complete form 1409 provided by the Department of Immigration and Border Protection. On this form it states that you “must have evidence that both yourself, and all other persons on the application have adequate health insurance”. This is more commonly known as condition 8501.

It is important to understand that the term ‘adequate’ means health insurance designed specifically for the 485 visa subclass, and previous student health insurance you may already have do not meet these standard. It should also be noted that to prove you have adequate cover, you are required to submit a signed letter from your 485 visa health insurance provider along with your visa application. All the policies above (including the cheapest health insurance for 485 visa holders by HIF) provide meet condition 8501 and provide a letter via mail or e-mail as proof of sufficient cover.

Individuals who come from countries that have a reciprocal health care agreement with Australia (e.g. the UK) can show a Medicare card (or receipt of enrolment with Medicare) as proof of adequate health cover. If you do come from one of these countries but are not located in Australia (allowing you to enrol in Medicare) you are still required to submit proof of 485 visa health insurance (including travel insurance) to cover your initial stay within Australia, provided that you are eligible for Medicare. Individuals who are Irish may also meet this agreement and must show proof that hold a Republic Of Ireland passport.

Advantages Of 485 Health Insurance Over Medicare

Even if you receive a Medicare card you should consider keeping your 485 visa health insurance based on three key aspects.

1) Tax

In Australia the government taxes you more if your annual income is over a set threshold and you don’t have private health insurance. This can range between 1% to 1.5% of your yearly earnings. In almost all scenarios it is cheaper to have a budget health insurance 485 visa policy with an insurer like IMAN rather then pay the tax (Medicare Levy Surcharge (MLS)). With the cheapest health insurance for 485 visa holders at less than $1,000 per year it’s safe to say most individuals will be ahead by having a cheap policy vs paying the MLS. It should be noted that you can only avoid the MLS if you have both 485 health insurance and have reciprocal health cover.

Of course, having public or private hospital cover also has many benefits of its own if you care about your health and getting immediate treatment, which is why so many Australian’s still opt to pay for private health insurance even though all public hospitals offer adequate treatment for services covered by Medicare. Talk to your financial advisor or accountant about this ‘Medicare surcharge’ to understand how private health insurance affects your taxable income!

2) Level Of Cover

Medicare is not like the NHS in the United Kingdom. The scheme only provides minimum cover for doctors and specialists and in most cases will only pay for a small proportion of the overall bill. The same can be true when you visit a public hospital. There is also the issue that for many elective procedures (e.g. knee reconstruction) the waiting time can be months to years. 485 visa insurance is critical to cover the out-of-pocket expenses, ensuring you can get treated promptly and have the option to get treated in a private hospital by the doctor of your choice. Even the cheapest health insurance for 485 visa holders offered by HIF offers a higher level of cover than Medicare.

3) Extras Cover

The most common element that Australians make claims on is their extras cover (not hospital cover). While hospital cover is viewed as critical for most individuals for peace of mind, procedures that are included with extras cover such as seeing the dentist, getting a new pair of glasses or visiting a physiotherapist are much more useful on a regular basis. These are services not covered under Medicare (except for extreme circumstances), so you may want to ensure you have adequate extras cover if you want to avoid paying high out-of-pocket costs for seeing such specialists.