When it comes to insurance, everyone can recognize the benefits of having a family plan. Having said that, many people may struggle to choose between public and private insurance.This is because both have their own unique benefits, both for individuals and for families. However, that doesn’t need to be the case; compared to public insurance, private can offer a variety of different benefits that many people might want to take advantage of.
Skip The Waiting List
This may be one of the most obvious benefits to private insurance, but many people may not realize just how much private insurance can speed up treatment. This may be especially true when it comes to the likes of elective surgeries but applies to almost every operation. Take heart bypass surgery, as an example; according to some of the most recent statistics, this had an average waiting time of 17 days for public patients. This was also the shortest waiting time that patients could expect. Compared to this, private insurance can help speed this process up significantly. The AIHW statistics also showed that half of public insurance patients waited 40 days or less, with many waiting more. Private insurance patients, however, won’t need to wait that long.
Private Hospital Rooms
One of the worst things about staying in a hospital is that you often have to share a room with up to five other people. These people are obviously facing their own conditions, which may not be great to share a room with. With private insurance, however, you can expect your own private room, which can be a significant benefit. However, this may be subject to availability in the hospital. On top of this, if you’re expecting a baby, then you may be able to get a private room where your partner will also be able to stay. With that in mind, it may be worth paying a slightly higher insurance premium to ensure that you have a significant amount of more privacy.
Moneyback On Non-Medicare Health Services
This may not be something that you thought of. However, many people may be able to receive a rebate on health services that are not covered by Medicare. This can include a few different services such as dental, optical, chiropractic and physiotherapy. Without private insurance, these services can quickly become quite expensive. As such, you should be able to save a significant amount of money in the long run. Furthermore, there may also be the option of adding pregnancy to hospital or extras cover. This would give you access to certain pregnancy-related services that may not be available through Medicare. However, it should be noted that this may result in a higher insurance premium over the long-term.
With those benefits in mind, choosing between private and public family insurance may be a lot easier. The only significant drawback to choosing private insurance, however, is that you may be paying more for your insurance. As such, you should weigh up your family insurance needs to see if private insurance is right for you.
And then there’s the life insurance
Aside from private health care and dental care, a private life insurance may also be a good idea. Your family should always come first and making sure that they are taking care of, if something bad happens, is absolutely imperative. Especially if you are the single breadwinner in the family. Fortunately, there are many companies in Perth that can give you some advice on life insurance policies and what kind of coverage would be suitable to you and your family. An example would be https://www.truelocal.com.au/business/life-insurance-perth/osborne-park.
Please keep in mind, that these are just pointers. Always talk everything through with your spouse and don’t make any irrational or rash decisions.