While it’s true that Medicare provides a safety net for all Australians, there are distinct benefits to having private health insurance that the public health services cannot offer.
One of the most compelling reasons why you should consider private health insurance is the fact you will no longer be required to pay certain government levies and taxes. Just by joining a health fund, you’ll get a rebate to help with the costs of your health premium if you earn less than $84,000 as a single or $168,000 as a couple per year. For those earning more than this, you’ll be able to avoid having to pay the Medicare Levy Surcharge. This is most commonly deducted from your actual health premium.
Also, by joining a health fund before age 31 you’ll be able to lock down the lowest base rate on your premium under the Lifetime Health Cover scheme. That’s because if you don’t get in by July 1 following your 31st birthday, you’ll pay an additional 2% on top of your hospital premium from the age of 30. So plan ahead, and save for life!
Although it may not be on your radar just now, situations can change like the direction of the wind. Planning ahead can relieve the burden of having to find money fast should there be a change in your health.
Depending on your stage in life and your particular needs, there are a range of extras that benefit all Australians. Whether it’s physiotherapy to treat the odd sports injury, major dental or orthodontic for the kids, or specialist care for chronic illness, private cover can be your saving grace when it comes to providing financial relief on medical bills.
At comparethemarket.com.au, we understand that everybody’s needs are different when it comes to health insurance. So to help you make the most out of your search, we help you compare from a range of options that best fit your situation. Our online health insurance tool is simple enough for anyone to use, while still providing you with a great range of features.
Don’t overlook one of the most important things you can do for yourself – compare health funds today.