Which costs more: having health insurance or giving it up?
Last updated 19/03/2020
This question dominates the private healthcare debate and is a key factor in Australians deciding whether to take out a private policy or not. Thanks to Health Insurance Comparison’s easy tool, you can find out for yourself in just a few clicks. The free service lets you find great value deals based on your unique needs.
At the end of the day, we’re all different and we all will have different health needs over the course of our lifetimes. It’s impossible to give a concrete answer to the question in dollars and cents.
The health insurance companies will tell you private cover is essential, but others will say it’s a waste of your hard-earned income. So, how do you know what to believe?
The best way to go forward is to tap into how you feel about it.
Let’s take a look at the hard facts:
The average hospital policy costs $2000 per year, while an extras policy could cost roughly $850 per year.* This is a lot of money for many Australians.
Yet, if something went wrong in your family, would you be able to cough up the funds to pay for an expensive operation? And if your monthly physio appointments for a bad back are costing you an arm and a leg, could private health cover cost you less in the long-run?
And then there are specialists to consider. Research shows that out-of-pocket medical costs can vary by up to 400 percent within one specialty.*
There’s a lot to consider, but the first step in determining your potential health cover costs is getting a free quote from HealthInsuranceComparison.com.au. Simply enter your details and allow us to do the work.
You’ll get a solid idea of how much health cover will cost you on an annual basis, and whether or not you’re on the most comprehensive and cost-effective policy for your needs.
Get started with our easy online comparison tool here.
Get Started Now:
Step 1: Select your state below.
Step 2: After answering a few questions, you will have the opportunity to compare quotes in your area and could be eligible for significant savings.
This article is opinion only and should not be taken as medical or financial advice. Check with a financial professional before making any decisions.