Health insurance

Article excerpt:

Australia’s health care system is free and comprehensive, yet 43 per cent of the population have also taken out private health insurance to get more options on hospital care – including quicker treatment, more control over where you go and which doctor looks after you, plus cover for ‘extras’ like dentistry and ambulances.

Article summary:

• Evaluate your needs as you go, as your needs will differ depending on your life stage.
• Look at the costs and tax advantages.
• Weigh up private versus public healthcare.
• Do your research with health insurance and find out about the exclusions, limitations, restrictions, excesses, co-payments, waiting periods, gaps and out of pocket expenses applying to new members and big ticket procedures such as heart operations and hip replacements.
• Decide whether you want extras coverage, which takes place outside of  hospital.

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