Is it worth paying for health insurance? The average annual premium for a family policy in 2016 was $3,8351*. You could be forgiven for thinking that you’re better off putting that amount of money aside each year, just in case you need it for medical bills.
But health insurance is about much more than just covering costly bills. Here are five top reasons why health insurance is a really good idea:
With private health insurance, you can choose your own doctor and hospital from those who participate with your fund without having to worry about astronomical fees. If you have a serious medical condition, it can be extremely reassuring to know that you are getting the very best care in a great facility. And many people like the option of being able to have a private room in hospital – which is something that private health insurance is much more likely to provide.
When it comes to your health, you don’t want to be waiting for months to fix something. Yet on the public system, there can be lengthy waiting lists – particularly for elective surgeries. Yes, the public system provides great care in emergency situations. But if your condition isn’t life-threatening, then you may need to resign yourself to a few months – or longer – of discomfort while you wait for your name to reach the top of the list.
Health insurance can give you great bang for your buck if you take out an extras policy. Depending on your policy, you could get money back every time you visit the dentist, physio, chiro, naturopath and more. So, if you’re proactive about your health and view these types of preventative treatments as a priority, then you’ll be glad you’ve got a health insurance policy behind you.
Many people are financially better off by taking out health insurance. With hospital cover, you can dodge the Medicare Levy Surcharge if you earn over $90,000. For some people, basic hospital cover could be cheaper than paying the surcharge. Plus, if you take out private health insurance before you turn 31, you can avoid paying the Lifetime Health Cover loading.
There’s one thing that you can’t put a price on. And that’s peace of mind. The right level of health insurance gives you the peace of mind that you and your family are covered, no matter what’s around the corner.
Taking out private health insurance can seem like a big step. If you need some more guidance, call us on 13 19 20 for expert advice.