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According to 2015 Ipsos MORI research, 92% of singles and couples aged 30-45 thought their private health cover was good value for money.

So what value are these people getting out of their health insurance policies that makes them so content?

#1. Thirty-year-olds use cover to skip hospital waiting lists

In 2013-14, around 700,000 Aussies were admitted to public hospitals after being on waiting lists for elective surgery. Half of these patients were admitted to surgery within 36 days of going on the waiting list, and 90% were admitted within 262 days.

Having health cover means not having to wait for treatment, or be stuck with a doctor you’re not happy with. When you turn 30, you enter a life stage where needing treatment for health issues becomes much more of a reality.

Waiting for surgery can be both worrying and uncomfortable. If you want the option to fast track elective surgery in the future, you should consider whether health insurance is right for you. You can compare private health insurance here.

#2. They use cover to help reduce tax and unexpected costs

Without private hospital cover, you could be paying more than $900 extra tax per year. As much as 1.5% of your income could be going to the taxman because of the Medicare Levy Surcharge (MLS). That’s all without considering the additional expenses you may incur if you require an unexpected hospital visit!

You can find out whether you are paying the MLS by using our simple calculator.

While the MLS only affects those earning more than $90,000 per year on their own (or $180,000 as a couple), it is a significant amount to lose for any household!

You have two choices: either pay the MLS or get private health insurance. At least with health insurance, you will get the associated benefits.

Also, if you decide to get health insurance after your 31st birthday, you might have to pay more for it. You can learn about Lifetime Health Cover loading here.

In short, the above costs may disappear if you’re privately insured.

#3. Thirty-year-olds use cover to help raise their families

About 1 in 5 Aussies want their babies born in private hospitals. In fact, 19% of Australian mums gave birth in private hospitals in 2015-16, according to Private Health Care Australia’s report. Your first pregnancy is something you’ll want as much assistance with as possible. Going private for delivery means you will get to skip public waiting lists, get a private room, and choose your own doctor.

There is a 12 month waiting period for obstetrics benefits. If you want private health insurance, you should get it before you start trying to conceive.

Want to explore your options? We’ve made it’s easy to find great deals on health insurance. Use our health insurance comparison tool, or give our health insurance experts a call.

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