Why should I keep hospital cover?
There are plenty of reasons that we believe private hospital cover is important. Things like:
- knowing you can have access to private hospitals with state-of-the-art facilities
- being able to choose your doctor
- not having to spend months (even years) on a public hospital waiting list by going into a private hospital
- if you earn over the threshold for Medicare Levy Surcharge and don’t have private hospital cover (currently $97,000 for singles and $194,000 for families), you may have to pay the Medicare Levy Surcharge.
- avoiding a Lifetime Health Cover loading (by having private hospital cover before you turn 31)
Besides, hospital can be very expensive and that is why having health cover is valuable. The table below shows our most expensive paid on behalf of individual members in the 2024 financial year:
| Hospital claims paid in the 2024 financial year | |
|---|---|
| Admission reason | Total benefit paid |
| Heart and vascular system | $65,033 |
| Brain and nervous system | $61,426 |
| Psychiatric services | $59,875 |
| Rehabilitation | $53,198 |
| Digestive system | $49,232 |
When you think about health insurance, it is important to think about more than just the cost. Health insurance is about giving you more choice for your healthcare, less time waiting for the services you need and (most importantly) the peace of mind to know that you will be looked after when you need it most.