Private medical health insurance for 475 visa holders

Getting private medical insurance is a wise thing to do – especially if you’re not covered by Medicare.

If you’re a holder of the 475 visa or the 457 visa, you’re not eligible for Medicare, which takes care of your health needs, so you need to get private medical health insurance. However, because we’re not considered permanent residents, we have to apply under “overseas visitors” which can be more expensive.

Just a note: If you opt not to take out insurance at all, apparently you could be penalised for doing so. According to this forum post: ” If you are an immigrant you have a set time, 12 months I think, to enter without paying the age loading.” Basically, you need to apply for private medical health insurance during the12 months after you arrive or they’ll add a surcharge, I believe. I’m not sure how legit this is, but if you decide to wing it without insurance, just be aware there could be possible risks. You know, besides possibly tanking all your savings if you end up having an accident or a health emergency. (Touch wood!)

I’ve done some research on what the insurance companies are offering:

IMAN (Budget Visitor Cover) $76 per month

Bupa (Classic Visitors Cover) $89.21 per month

I’ll keep you updated with more information that I can dig up. Watch this space!

PS: In the end I went for Bupa cos I can’t find Iman’s office in Adelaide 😛 I know, probably not the sanest way to choose your insurance. But anyway, my police works this way. If I’m sick, I can see a doctor, pay for it first, then come back to the office to claim for it. I may not be reimbursed the entire bill, but it’ll be close.

Photo by forwardcom

Open a bank account before you move to Australia

When I made my initial entry to Adelaide last December, lots of people suggested that I open a bank account. In the end, I decided against it because I wasn’t comfortable using another person’s address to do so. What I should’ve done, however, was to visit an Aussie bank to see if there are any other options available instead!

But today I stumbled on something really interesting. Apparently, you can set up your bank account with Westpac online before you move/arrive in Australia. In fact, the site is entirely for prospective migrants.

I promptly did so, filling out the necessary form. But I wonder whether I’ll get approved as I wasn’t sure what to put in the “expected job” field. I selected “Student”, which is not a lie as I plan to take a certificate-level course in the first few months in Adelaide. I’ll update you guys on the progress.

There are two accounts you can apply for. The Westpac eSaver and Westpac Choice.

After applying for these accounts, you need to complete your identity check either by visiting a regional branch (the nearest branch for Malaysians is the one in Singapore), or by going to the Aussie branch to do so. You need to be there in 12 months of your application or else your account will be closed. Also, you need to have your identify verified within 6 weeks of arriving in Australia — just show your passport and Australian address. If you do so more than 6 weeks after arrival, you’ll need to provide at least 2 forms of identification such as a passport, driver’s licence or birth certificate.

Once your identity is verified, you can start transferring funds.

I’m personally a little leery with tele-transactions, so I’m using the old fashion bank draft route. I’ll probably just transfer a few hundred Aussie dollars to test the waters. What can I say? I’m paranoid.

Will update you on my progress. 🙂

PS: The National Australia Bank also has the same option – to open a bank account online before leaving for Australia. I will check it out and report back to you on this.

Update! My account with Westpac has been approved. 🙂 But what’s this I hear about monthly fees? Apparently some banks charge monthly fees to your account. OMG. However, Chris (below, in comments) commented that NAB doesn’t do that. That’s information for a future post!

Update 2: A guy with a very thick Australian accent (so thick I could barely understand him) called me to see if I was a real human being. A few weeks later, I received a nice parcel in the post with information about my account. I have the option of confirming my identity in its Singapore branch. Since my trip down south may be delayed, I may have to do that.

Update 3: Got to Adelaide! Before you arrive, be sure to make an appointment. Banks in Oz usually require you to make one if you want to open an account. Anyway, all I did was present my passport and wala. Interestingly, most of the people there know me because of this post! The bank manager actually dropped a comment below.  By the way, be sure to apply for your Tax File No as the bank requires it. If you’ve worked in Australia before (I did as a Subway Sandwich Artist when I studied in Perth) you can retrieve it from the Tax office.

I opted for a savings account with a high savings rate (about 4.5%). Happily, because I’m a new migrant, they waived the bank charges for the year.