Do I Need Private Health Insurance When I Turn 30?

The Lifetime Health Cover initiative is designed to encourage citizens to take responsibility for their ongoing health by obtaining hospital insurance earlier in their lives and maintain it as they grow older.

While holding a private health insurance policy is still completely optional in Australia, individuals who decline to purchase hospital cover by the 1st of July following their 31st birthdays will incur a penalty known as loading if they seek out coverage later in life, which adds a 2 percent premium to the cost of cover for each year beyond 30 up to a maximum of 70 percent.

Loading

The loading system works to reward individuals who take out policies early in life by offering preferable rates. For example, someone who takes out health cover at age 30 as recommended will pay 20 percent less than someone who waits until age 40 to take advantage of the Lifetime Health Cover initiative. However, even if loading is incurred, it is removed from the premium after it has been paid for 10 consecutive years.

Family policies calculate loading slightly differently. Policies covering couples and families calculate any required loading by determining the average value of the two adults’ loading penalty. For instance, if a husband has 40 percent loading and his wife 0 percent because she met the suggested guidelines at age 30, the aggregate loading of the family’s Lifetime Health Cover loading will be set at 20 percent for the next 10 years.

Exclusions

While avoiding loading penalties requires that cover be maintained on a consistent basis, there are some exceptions to this rule. One of these is a gap in cover exclusion, which is a provision designed to exclude small intervals while changing providers. An individual can be without cover for non-consecutive periods totaling 1,094 days (2 years, 364 days) without affecting loading levels. These days are known as “Days of Absence,” and if this limit is exceeded, a 2 percent loading charge will be assessed to the applicant upon their next coverage period and again for each year the coverage is lapsed without merit.

Another exception to the rule involves voluntary suspension of membership. If a policyholder is able to agree with the insurance provider to enact a short suspension in coverage due to temporary inability to pay, this period of suspension is not reflected in loading calculations. Overseas travel is also excluded from the calculation of Days of Absence if the insurance coverage is canceled in order for the policyholder to travel abroad for at least one calendar year.

While private health coverage is not required by law, it is certainly encouraged by legislation. It’s always wise to compare your health insurance options, to find the best fit for your own situation. The Lifetime Health Cover initiative is designed to provide a network of care to every citizen, and making use of it early can prevent paying much more for it when needed.

What a Casino Bonus Code is and How it Works

The online gambling industry, according to a report compiled by KPMG, was set to increase from $21 billion in 2008 to 30 billion in 2012. It is considered a high growth industry and there is a lot of competition in this market. Casinos need to thus look for ways to attract new customers and this works to your advantage, if you understand how it works.

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photo by rendezvouscp

There are generally two types of bonus codes for new clients – a matching casino bonus code or a no deposit bonus code – as an incentive. In the first instance, the casino will match the amount that a new client initially deposits into their gambling account – these bonuses are intended to weed out those who are trying to make a quick buck. In the second instance, the client does not need to put in any money of their own upfront.

How it Works

With a matching bonus, you put your initial deposit in and the casino then matches or betters that amount by adding money to your gambling account.

With a no deposit bonus, the casino adds money to your gambling account to get your started – you do not have to add to it.

This money can then be used to place bets and play online. In some instances, clients are given credit to play a specific game or slot machine only.

The Rules

The rules regarding these bonuses will vary from site to site and from time to time. These deals are restricted to new accounts only – returning players will not qualify. Each casino will also have its own rules about how many times you have to wager with the money before cashing in and whether or not the bonus amount can be cashed in or not. According to Wikipedia, there are two types of bonuses – Cashable and Non-cashable bonuses.

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Cashable Bonuses

With the cashable bonus, you are allowed to withdraw the bonus in addition to any winnings earned, after the basic conditions in terms of betting have been met.

Non-Cashable Bonuses

In this case, the bonus amount is deducted from any winnings when you cash out.

Making the Most of Bonuses

The terms and conditions for these bonuses can be quite restrictive so it is important to properly understand what these terms are. You need to take the time to carefully read the terms so that you know exactly what they are getting into.

How to Get a Bonus

As mentioned above, you need to be a new client in order to qualify. If you know the name of a particular casino, you can look for their site directly. They will usually advertise these bonuses quite prominently on the landing page.

There are also a number of sites that review the bonuses offered by the casinos and keep an updated list of what the bonuses are and links to the actual casinos in question. This can be quite useful if you are short of time – you can choose from a number of options on one site – or if you have not got a particular casino in mind.

Just Say No to the Bad Job Offer

It’s tempting to take a job offer when you get it. However, your career is the equivalent to a company’s brand. You want to do everything possible to make it lucrative, but if you accept an offer that leaves you with a short stint on your resume, you undermine your ultimate goal.

People often wonder, “How do I know if working at this company is going to be good for my career?” Resources like glassdoor.com can give you some insight; however, you might see comments from disgruntled employees who may have been let go for completely legitimate reasons. There are some steps you can take to protect yourself:

  1. People are deeply disorganized. You go to the interview. The person you were supposed to see is not there and no one gives you a reasonable explanation (i.e. a family emergency) why this happened today. If a company isn’t respectful of your time at the very beginning, it won’t be later.
  1. The people who interview you are completely unprepared. If you meet more than one person when you go in for an interview, that’s a great sign. However, if they have no idea what they want to ask you, these folks might not see a great need for the position you hope to fill. Don’t be scared if they don’t have a long list of thorough questions. Interviewers are only perfectly prepared in career coaching books. However, it is in their interest to have a few questions to determine if you are a fit for the job.
  1. The interviewer’s statements do not match what you see in the office. People can say the all right things, but if the words do not match the actions, it is a huge warning sign. If the hiring manager says “We have lots of clients,” and yet, there are few phone calls and the overall activity level in the office is low. Trust your gut if the social cues don’t match the spoken words.
  1. They don’t have an answer to your question, “What are the first 30 days like in this position?” Some companies expect people to dive right in to the job. Others have a more formal training program. The important thing is that the company has clear expectations on how quickly it wants you to get up to speed.
  1. They don’t have an answer to the question, “How do you define someone who is successful in this position?” Murky expectations are a major cause of on-the-job frustration. If a company doesn’t know what it needs from an employee, how can you provide it?
  1. The company pressures you to accept an offer without first seeing everything in writing. You get an offer.  You’re so excited! The adrenaline is flowing. You need to take a step back and say, “I’m deeply flattered. I look forward to signing off on the written offer.” The purpose of written offers is to spell out the general duties, compensation, and benefits associated with a job so there are no surprises for either the employee or the employer. A company should want to make sure that everything is clear for its own sake.

Despite our best efforts to minimize it, sometimes a person takes a risk and it just doesn’t work out. You start a job and the boss, position description, and overall environment are not how they were represented during the search process. Asking some professional, probing questions and being observant to social cues can go a long way to protecting your career interests.