Life is full of uncertainties. We may not want to think about it but the reality is, we can get hospitalised at some point in our lives. To ensure that you’ll be prepared for whatever life throws at you, get an insurance. There are so many health care plans available nowadays, catering to a wide range of markets. One type to consider is the private health insurance.
Shorter waiting periods
For private patients who will undergo elective surgery. The same goes for certain hospital procedures which are not considered medical emergencies.
Do you need a private health insurance? Here are some things to think about:
- In general, those with private health insurance are given a chance to choose their doctors, room, hospital, and even the time of the procedure, depending on the availability.
- Cheap health insurance may not be the best one for you. Who wouldn’t want to get cheap health cover? But this should not be the sole deciding factor. By comparing the offerings of several insurers, you will be able to find a private health insurance that offers both good coverage and affordability.
- Waiting periods can be shorter for private patients who will undergo elective surgery. The same goes for certain hospital procedures which are not considered medical emergencies.
- You can actually save money with your health insurance. For instance, you can avoid paying the Lifetime Health Cover of the Australian Government if you manage to take out the hospital cover before July 1 after your 31st birthday. Otherwise, you may need to pay an extra 2% up to 70% for hospital cover every year.
- You can also get rebates from the government. This amount will depend on your age and income. For instance, a single individual who is below 65 years of age and earns $90,000 or less will get a 26.791% rebate.
- People who reach an age when serious illnesses can occur get private health insurance. This applies even if they’re considered fit and healthy. Again, you never know what’s going to happen so it’s best to be prepared.
- You can save money come tax time. The Medicare Levy Surcharge is an additional 1% in tax for single individuals who have a taxable income of more than $90,000, or $180,000 income for couples, single parents, and families. You will need to pay this extra tax if you don’t have private health insurance.
Getting the best private health insurance can be helpful in giving you some peace of mind, knowing that you have something to depend on in case an unfortunate event arises. Look at different health care plans, weigh their pros and cons, and choose the best deal.
Got other ideas on health care plans and how to get cheap health cover? Share your tips in the comments section.