Do You Need Private Health Insurance
70.9% of Australians that have private health insurance say “that above all else, private health insurance is about knowing that you will be able to cover the cost of big medical expenses if they arise”. That’s according to Roy Morgan’s Single Survey (Australia).
While attitudes regarding private health insurance decline and premiums continue to rise each year, many are often scratching their head and asking: Do I need private health insurance?
If you don’t mind waiting lists for surgery, here are a few stats, facts and figures that could help you decide if you want private health insurance (PHI):
- Elective surgery waiting times has increased to 40 days.
- 90% of emergency department visits were completed in 7 hours and 14 minutes.
- You can choose your own doctor or specialist.
- Extras such as dental, glasses/contacts and a range of other therapies are covered by PHI.
- Covers some or all costs of ambulances depending on your state.
- Covers the cost of hearing aids.
- Covers elective surgeries
Those are just to name a few. There are 100 more reasons why you should have private health insurance and the exact amount of reasons why you shouldn’t too.
While having just private health insurance won’t keep you healthy, having it could give you peace of mind and 83.8% of Pre-Boomers surveyed by Roy Morgan say that having private health insurance because they know they are able to cover the cost of medical expenses.
Ultimately that answer can only be answered by you.
Any advice contained in this article is general in nature and does not take account of your particular objectives, personal circumstances or needs. If in doubt about your own situation you should seek appropriate advice.