Why have private health insurance?
We get this question a lot. We’re extremely lucky in Australia to have a great public healthcare system. So why have private health insurance if the public system is so good?
There are plenty of reasons why people choose to have private health insurance. Here are some of the most common:
- While you will receive treatment in the public system, there is no guarantee who your doctor will be or where your treatment will be. Having private health insurance gives you the flexibility to choose your doctor and hospital, providing your doctor has practicing rights at that hospital.
- Avoid long waits – Elective surgery waiting lists for the public system can be long – figures from the Australian Institute of Health and Welfare show in 2022-23, 50% of patients were admitted for elective surgery within 49 days. With private hospital cover, you may have more choice as to when you can have your surgery within the private system.
- Cover for the things you value – looking after your health can be expensive. Depending on your level of Extras cover, you can claim for things like glasses, contact lenses, physio, chiro, prescriptions, vitamins, preventative health tests, dieticians, outpatient travel – and so much more. Waiting periods, item limits, sub-limits and annual limits do apply. Check our policy summaries for the full range of services covered and applicable waiting periods and limits.
- Dental cover – Medicare generally doesn’t provide benefits for dental care, meaning that costs can quickly add up if you require treatment. Having Extras cover can help you reduce or avoid dental costs – for example, Westfund members with an Extras policy are completely covered for selected preventative dental services at any Westfund Provider of Choice dentist or Westfund Dental Care Centre, up to applicable limits (waiting periods may apply).
- Tax time – depending on your taxable income, you may have to pay the Medicare Levy Surcharge if you don’t have an appropriate level of private hospital cover.