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*** Australia: Overseas and Visitor Health Cover (OVHC)? *** Australia receives many thousands of immigrants each year who seek education and working opportunities and therefore often stay in the country for several years. With numbers increasing year on year, the demand for OVHC is expected to also increase. This article ⭐ discusses the OVHC product, ⭐ including who is covered, ⭐ why they are covered, ⭐ the benefits included, and ⭐ challenges associated with it. Most temporary migrants do not have access to Australia’s national universal health care system (Medicare) which is only available to citizens and permanent residents. OVHC is designed to ⭐ cover the medical and hospital costs ⭐ of people living in Australia temporarily ⭐ who do not qualify for Medicare. This tends to include - ⭐ People transitioning from student visas to working visas, ⭐ Working holiday makers and ⭐ temporary workers addressing shortages in industries such as farming and construction, and ⭐ Professionals working in Australia on a shortterm or contract basis. At 30 June 2023, ⭐ there were 2.4 million people in Australia on a temporary visa – ⭐ up from 1.9 million a year before. ⭐ 730,000 of these were on visas that typically require OVHC, ⭐ more than double the 320,000 for the prior year. #healthinsurance #insurance #health #OSHC #OVHC #migration #visa
In this article, Chipo Banza and Bill Konstantinidis describe Overseas Visitor Health Cover (OVHC) including who is covered, the benefits, and some of the challenges. Read the full article here: https://lnkd.in/geMEgWNq
Chair of Audit & Risk Committee | Financial Services Risk & Compliance Consultant
4moGreat article on something many locals would be unaware of!