Private Health Care

Most people in the workforce need to make a decision at some time as to whether to get private health insurance. Many people go for private health care when they're thinking of starting a family so their loved ones are covered should the need arise. Also with the Australian population getting older the need for elective surgery is growing and public hospital waiting lists are at a record high in Australia today.

There are many benefits when getting private health insurance such as avoiding long hospital waiting lists. If you need elective surgery and you are covered by private health insurance then it's possible to get an operation done much sooner than in a public hospital. Another positive is that should the need arise the member may choose the specialist or hospital of their choice on most occasions. If you choose private health care cover that includes extras then you avoid paying for things like physiotherapy, dental cover and acupuncture. Of course you will pay extra in your premiums to cover extras and it can be quite expensive for people on small incomes.

The government currently gives people who pay for medicare a 30% rebate should they join a registered health insurer. Unfortunately in recent times when the government has announced these rebates a lot of private health care companies have also increased their fees. The government has given the 30% rebate to entice more working people to take out private health insurance and thus easing the pressure on the public hospital system. The 30% rebate is also not means tested which means it doesn't matter what you or your families income is to claim the 30% rebate. There are currently three different ways to claim the 30% government rebate. You can choose to have the amount reduced from your private health insurance company, claim it from a medicare office or claim it at the end of the year when you lodge your tax return. It is important to note that not all-private health insurance companies are registered so it's important to check before joining whether you'd be entitled to the 30% rebate.

There are many different levels of private health cover to suit families or if your single and looking for cover. For singles basic cover can range from as little as $3.50 per week to $45 per week for the ultimate health cover. Family cover can range from as little as $9.60 for basic extras cover to $91 for full comprehensive health care cover. It is important to consider all your options when looking to take out private health care and work out what type of cover you think you need and also what is affordable to you. Depending on which cover you choose there are some items that don't hold comprehensive cover such as dental work where your private health fund will cover a percentage of what your charged. This will help ease the cost of paying it yourself but bear in mind the insurance company pays a percentage of cover up to a certain amount which means if you exceed that amount then you are liable to pay 100% of the cost over the stipulated amount.

Most insurance companies now offer some kind of incentive for individuals to take out private health care. This may be in the form of paying for certain cover and receiving free cover for other policies for a set period of time. It's extremely important when taking out private health care that you look into most of the major health funds and work out exactly what kind of cover you think you need and see which ones cover it. When you have worked out what kind of cover you need then contact the health funds either by phone or checking their web sites to see which private health fund offers the best deal.

In summary private health insurance is a bit like house and car insurance, you may never need it but it gives you piece of mind knowing you have it should the need ever arise where you do need it.