457 Visa Health Insurance
Health Insurance for 457 Visa Holders in Australia
Some significant changes with respect to health cover for 457 visa holders were announced in 2009, applying with effect from September 14, 2009. In summary, the major changes were as follows:
- Visa holders, rather than employers, would now be responsible for their own health care costs and arranging insurance to cover expenses. Proof of appropriate insurance having been arranged, in the form of a letter from the Insurer, would be required prior to the Visa being issued, effective September 14. The intention is that this letter will emailed to policy holders, in the form of a PDF, to accompany visa applications once an application has been accepted.
- The health insurance cover arranged must meet certain minimum standards and be provided by an Australian insurer. The policies appearing in the table below meet those new requirements.
Exfin can provide access to health insurance policies that ensure comprehensive cover and, most importantly, advice from experienced brokers. The table below provides a very summarised view of the range of cover available, and the applicable premiums - with insurance provided by one of the world's largest health insurers. In many instances, if an individual has existing private cover overseas, then it will be possible to provide 'continuity of cover', with the result is that no waiting times might apply for coverage of pre-existing conditions.
Indicative Premiums & Cover : 457 Visa Health Coverage
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Platinum
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Executive
|
Gold
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Classic
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|---|---|---|---|---|
| Single - Annual Cost |
$2,600
|
$2,532
|
$2,044
|
$1,000
|
| Single - Monthly Cost |
$217
|
$211
|
$170
|
$83
|
| Couple or Family - Annual Cost |
$5200
|
$5064
|
4,089
|
$2,000
|
| Couple of family - Monthly Cost |
$433
|
$422
|
$341
|
$167
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In-patient (in hospital) private hospital expenses – 100% of expenses (at participating hospitals) |
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In-patient (in hospital) public hospital expenses |
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In-patient Medical Services (private hospital only) – 100% to scheduled fee set for medical service |
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Out-patient (out of hospital) Medical Cover – Doctor/GP & specialist visit expenses, up to 150% of scheduled fee |
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Maternity Cover – 12 months waiting period |
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Extras – dental, optical, chiropractic, physiotherapy, and more |
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Medical repatriation to home country, or repatriation of mortal remains |
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Ambulance Expenses |
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•
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Should you wish to purchase this cover, or to seek more information about whether other policies might better suit your situation, please complete an Inquiry Form and you will be contacted shortly by a suitably qualified and licensed broker who will discuss your requirements.
Medicare Coverage
Sponsored Employees, directly recruited from a country with which Australia has a Reciprocal Health Care Agreement (RHCA), may be eligible for Medicare benefits. For taxation purposes, these visa holders are treated in the same manner as Australian citizens and are subject to the same tax payments (Medicare Levy) and penalties (MLS) as Australian citizens. RHCA Agreements are currently in place with the following countries:
- United Kingdom
- New Zealand
- Sweden
- Finland
- Netherlands
- Malta (6 months only)
- Italy (6 Months only)
- Norway
- Belgium
- Ireland (Hospital only)
Treatment under the RHCA is limited, as indicated above, to immediately necessary treatment which occurred after arrival in Australia (ie. pre-existing conditions are not covered), and includes the following:
- subsidised out-of-hospital medical treatment (visiting a doctor) under Medicare
- subsidised medicines under the Pharmaceutical Benefits Scheme which arose after arrival in Australia, and
- treatment in a public hospital.
Sponsored employees from non RHCA countries are able to request a refund for the Medicare Levy in arrears by applying to the Minister. Note that, for Lifetime Health Cover purposes, eligibility for Medicare does not include people who have limited eligibility under the RHCA. This means that the grace period for migrants who have limited eligibility under a RHCA does not start until they are granted full eligibility for Medicare – which starts when they apply for Permanent Residency.
Life and Travel Insurance cover for Temporary Visa Holders
Finally, please note that Life Insurance cover for 457 visa holders is now available from major Insurers to a maximum of AUD2M, with TPD and income and Income Protection cover also available. Travel insurance for 457 and other visa holders has also been a problem in the past with many companies requiring Australian citizenship or permanent residency, but it is now possible to arrange coverage online for most visa holders - see our page on travel insurance for 457 visa holders.
Disclaimer : The information provided above is not intended to be specific or to be relied upon. Anyone considering their exposure, or intending to purchase health insurance, is advised to consult appropriate professionals before taking any action or indeed deciding to take no action to limit or reduce exposure.
IMPORTANT: The material contained in this website and other associated communications is only intended as general, background information and must not be relied upon. No warranty is provided in relation to any material or to the services that may be contracted through exfin.com. It is recommended that individuals seek the advice of qualified professionals before taking any action.
