IT is a requirement for students transitioning to the Temporary Skilled Graduate (subclass 485) visa to purchase private medical insurance. However, many are unaware they have many options to choose from when purchasing a medical insurance policy.
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International students in Australia now have the option of applying for the Temporary Skilled Graduate (subclass 485) visa, which allows overseas graduates to work for up to four years upon the completion of their degree.
It is a visa condition that all 485 visa holders purchase a private medical insurance policy for the duration of their stay in Australia.
Students cannot purchase an Overseas Student Health Cover policy for this purpose.
Director of 457visacompared Justin Grossbard says many 485 visa applicants find it difficult to understand which policies meet the 485 visa health insurance requirement.
He added that some applicants only look for the cheapest insurance to fulfil the visa requirement as it difficult to understand the features of more expensive policies.
Now, 457visacompared provides a free online resource for subclass 485 visa applicants to find out and compare the major funds policies that meet the Australian Government’s health insurance requirements.
Mr Grossbard says 457compared has prepared charts for singles, couples and families that compare the five largest Australian health funds that offer 485 visa health insurance.
“This way, you can see the differences straightaway. It’s a pretty fair comparison, so you can make a decision quite quickly,” he said.
According to Mr Grossbard, that comparison charts were made by himself, a doctor and an independent third party to ensure their accuracy.
They obtained information about each policy from policy documents available on each insurance provider’s website.
The chart is also regularly reviewed to ensure information is up-to-date.
Another feature of the comparison chart is the addition of customer reviews from productreview.com.au, an independent review website. Visa applicants can then get feedback from other policy holders to make an informed decision.
Mr Grossbard believes this will be a good resource for those applying for the 485 visa who want to make the right policy decision quickly.
“Applying for a 485 (visa) is a great opportunity for those looking to work in Australia but it’s critical you follow all the steps required including purchasing compliant health insurance,” he said.