It’s one of the most common questions we get. Good health just about tops everything, but here are some other pretty awesome reasons we think having private health cover is worth it.
More money for the honey
Let’s keep it real: healthcare isn’t cheap. Unfortunately, accidents or illness often hit when we least expect. Going to hospital is stressful enough without having to worry about whether it’s going to break the bank.
How much does hospital cost anyway? Let’s take a gander at some recent fees we’ve paid:
- An intensive care stay – $2,500 a day (crazy, we know)
- Neonatal care for premature twins – $50,000
- A double hip replacement – $70,000
Surprised? Boy, could we tell you some more stories!
Private hospital cover is all about getting your choice of the hospitals, treatments and the doctor you like. Even better, you get to choose which hospital, which doctor and when you’re treated. Which leads us to…
Skip the queue
When you’re unwell or in pain even 24 hours can seem like a lifetime. Here’s how long you might have to wait to be treated in a public hospital.
- Hysterectomy – 57 days
- Prostate surgery – 47 days
- Getting your tonsils out – four months
- Cataract removal – 86 days
- Hip replacement – almost four months
- Knee reconstruction – more than six months
Ouch! And 50% of people can wait longer. Crazy.*
With private health cover you can avoid long (and painful) waits in the public hospital system by choosing a private hospital. And you can make sure you go to hospital when it’s best for you.
Keep the Government onside
The Government is pretty keen for Australians to have private health cover to help take the strain off the public system (read: your wallet might suffer if you don’t) Here’s how they like to give you a bit of a push:
Under 30? You can get a discount on your hospital cover of up to 10%. Read all the details here.
Australian Government Rebate
Depending on your age and income, the Government could cover up to 33.413% of your health insurance premium. How does it work?
Medicare Levy Surcharge
If you earn more than $90,000 a year, you’ll be taxed at least an extra 1% if you don’t have hospital cover. More info please!
Lifetime Health Cover Loading
You might think you’re too young to need hospital cover, but if you leave it until your later years (over 31 to be precise), you’ll get stung with the Lifetime Health Cover Loading. Sounds like a prison sentence and it kinda is! Basically, it means that when you do decide to take out cover, you could be paying more for up to 10 years. Say what?
Still don’t think you need it?
No worries, but remember: while the Australian Government covers some medical expenses through the Medicare system, private health insurance offers greater choice. That’s why almost half of all Australians have it.