As we all know Australia has a great public health system called Medicare. We’ve already done a great post about that here, letting Aussies know the differences between Medicare and Private Health Insurance. But the real question is, how do you really compare health insurance in Australia, especially when it’s you’re doing a Medicare and Private Health Insurance comparison? Where do you start? And is there an example of how Medicare vs Private Health Insurance would work. It’s better to know the pros and cons of both Medicare and Private Health Insurance to understand more.
Billy Explores is here to help! Plus, we will take you step by step through how to do a health insurance in Australia comparison, and an extras health insurance comparison (yes, even including a dental health insurance in Australia comparison). Let’s get onto it!
Medicare vs Private Health Insurance Have Their Pros And Cons
When deciding and understanding the differences between Medicare and private health insurance, you should think about the pros and cons of each. Obviously, your own situation will play a big role in deciding which path you want to take. Always think about these things when deciding what to do and doing a private health insurance comparison.
Pros Of Private Health Insurance
- Peace of mind if you, your partner, or someone in your family needs surgery in the hospital out of the blue.
- More choices about what kind of treatment you get, where you get it, and who does your surgery (subject to availability).
- Depending on your policy, you might be covered for health services that Medicare doesn’t offer. These include everything from dental exams to counselling and foot care.
- Avoid public hospital waitlists to cut down on wait times.
- A private hospital gives you the option of getting better in your own room (subject to availability).
- The option to be treated privately without having to pay a lot out of pocket (compared to what those without private health insurance would have to pay if they were treated in a private hospital).
Cons About Private Health Insurance
- Have private health insurance does cost money, and premiums go up every year (of course that’s when you should do a private health insurance comparison realistically).
- Depending on your policy, the treatment you need may not be covered. It’s important to take your time picking the right level of coverage.
- Before you can start making claims, you may have to wait a certain amount of time after getting coverage or upgrading it. Waiting times for hospital care usually range from two months (for palliative care, rehabilitation, and psychiatric care) to 12 months (for pre-existing conditions and pregnancy and birth services), but they can be as long as 36 months for some services.
- Even if you pay a monthly premium, you may still have to pay other costs out of your own pocket.
- If you go to the hospital, you may have to pay an excess that you agreed to when you bought your policy.
Medicare vs Private Health Insurance – A Comparison
Why Medicare Can Be A Good Idea
- Get care without having to pay up front or for less money.
- If you don’t need surgery right away and are willing to wait, you could save money.
- The MBS lists the most common health problems, and Medicare will pay for up to 75% of them.
- Most of the time, you’ll be seen right away if you have an emergency.
- There are no premiums or deductibles to pay each year.
What Are The Issues With Medicare
- Some of the care you need, like dental care or physiotherapy, might not be covered.
- You might have to wait longer than usual.
- You don’t get to choose when, where, or who does the surgery on you.
- If you get care outside of a hospital, you will have to pay more out of pocket.
- You might have to pay the Medicare Levy Surcharge fee.
Best Health Insurance For Sports Injuries – Medicare vs Private Health Insurance
Well, there are definitely both pros and cons if you’re looking for the best health insurance for sports injuries, and unfortunately you might want to err on the side of private health insurance. Under Medicare vs private health insurance, if you are injured playing sport you more than likely won’t be deemed an emergency case, which means you could be waiting a while to have surgery. This is a key difference between Medicare and Private Health Insurance. If you have private health insurance, not only will you be able to compare health care providers and more than likely have the doctor of your choice, you will be able to be seen quicker, have surgery quicker and be back playing. Of course, the best health insurance for sports injuries is the one that best suits your needs, and the best way to find out is to compare health insurance in Australia. You can easily do a private health insurance comparison through Billy Explores.
Compare Health Insurance In Australia
You’ve got the pros and cons of both Medicare vs Private Health Insurance. So what one is best suited to your needs and requirements? That’s entirely up to you. But, now that you know the differences between Medicare and private health insurance are different, you can make an informed decision about which one is best for you. Just click the “compare now” button to start comparing health insurance in Australia! In our next blog, we will give you a great example of how health insurance actually works, with a real life example of Medicare vs Public Health Insurance.