$2000 on the horizon?

We got an unexpected and rather large package from our health insurer yesterday. Turns out that inside was a letter and a prospectus. Our insurer is to be bought out by another company, and if the plan goes ahead, each `contributor’ will receive a payment based on how long they’ve been with the company and what kind of cover they’ve held in that time. In our case, the estimated payment will be $2100! We will remain covered by the same brand, with the same conditions, and the same regular payments.

In Australia, private health cover just essentially buys you the chance to be seen more quickly and in more comfortable surrounds, but it is worth having. (We have `universal’ health cover for all citizens but there can be delays for non-emergency treatment).

Anyway, our insurer is a not-for-profit but this change will mean it will become a for-profit agency. The obvious question is what this buy-out will do to our premium. An independent administrator has ascertained it is unlikely to affect premiums significantly (partly because of the government interventions involved), though I guess that’s not set in stone.

My husband and I talked about it and we said it was essentially `free money’ from our perspective, and if the premiums go up too much we will just have to consider moving to a competitor.

So hopefully, we will receive $2100 sometime during the year! If you’d told me in January to expect a cash payout  from one of our regular monthly creditors this year, I would have laughed. I guess we’ll be sure when it actually arrives. I have some ideas for where that money could go.

Which reminds me … I plan to update my 2008 goals, and where I am with them, in an upcoming post.



1 Comment »

  1. Dolly Iris said

    Wow! That would be a nice chunk of money to receive. Hopefully the cost doesn’t go up TOO much!

RSS feed for comments on this post · TrackBack URI

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s

%d bloggers like this: