Medicare is a free government healthcare system that is offered to most residents of Australia and New Zealand. You can sign up for Medicare if you do not already have a Medicare card. Most of the time, parents automatically enroll children in the Medicare system when a child is born. Even though the premise of Medicare is noble (to offer free healthcare to everyone), this service has its obvious drawbacks.
Reasons Why Medicare May Not Be Enough
Medicare looks great on paper. Free hospitals, treatments, and healthcare for all sounds like the perfect scenario. The problem is that Medicare comes with a number of hang-ups.
- Long Waits: since everyone has Medicare, public hospitals are often overcrowded and understaffed. This means that you could wait for hours when you visit a public hospital emergency room.
- Lack of Coverage: Medicare does not cover all health expenses. You may wind up paying out of pocket for certain treatments.
- Grave Concerns: you can become sick at any given time. The mere thought of becoming sick and wading through the thick Medicare jungle can be nerve-wracking.
When Medicare is not enough, private health care can help fill in the gaps. Only, how much private health care do you need?
Determining Your Private Health Care Needs
Private health insurance can be expensive. Yet, private health insurance is also strongly recommended for the aforementioned reasons. Even though some private health insurance plans can be costly, you can sculpt a private health care plan to suit your specific needs (something that is impossible with public health care).
The best way to determine how much private health care coverage you need is to go through each policy carefully. Some policies will pay for a large percentage of various treatments, while other policies will pay for a percentage of different treatments. For example, the private health insurance company you choose may pay 50% of a surgical procedure, but they may not pay for any portion of a dental procedure. Consider the cost of each private health insurance policy you come across, and take the time to read the fine print. You’ll discover that most private insurers are highly flexible when it comes to creating a specialized plan.
Private Policy Coverage
The tricky part of opting for a private policy is reading and understanding all aspects of coverage. Make sure to go over each possible health scenario with a private insurer. Find out if such items as “dental coverage” includes dental surgery. If you have any questions about a portion of a private plan, take the time to contact an insurer. The amount of healthcare that you need depends on your current health and financial situation. Just remember, it’s best to have a little extra healthcare than to rely entirely upon the Medicare system.