Don’t Waste Money on Private Health Fund - Morgan Stanley Report

Are you going to ditch your health fund next year ?

https://www.dailytelegraph.com.au/business/is-the-public-hea…

Paywalled article, please google the title “Is the public health system so good you don’t actually need private insurance?”

Thanks tsunamisurfer

Poll Options

  • 31
    Yes
  • 264
    No
  • 331
    I don’t have private health insurance
  • 14
    My employer pays my health insurance

Comments

    • +1

      That's the US model though.

  • I'll keep mine even if my income was below the threshold.

    I like the certainty that if something goes wrong, I'll be able to get the surgery / medicine / tests necessary. I have been in the situation of needing 'elective' surgery (an Ankle reconstruction) - waiting list is around 2 years if I'm not mistaken.

    I never got it done, I now have private health however haven't gone ahead with it. I was young when it happened and didn't have 20k handy….I'm happy to pay for peace of mind, and even happier if I'm never in a situation where I need to use it.

  • +1

    I got a quote recently with BUPA, for the sole purpose of the bonus velocity points on offer. I had to pick my jaw up off the floor when they mentioned the monthly premium for a 39yo. The current generation has been duped in my opinion to take out private health insurance when it is fundamentally unnecessary. My take is that if you're a healthy person that takes care of yourself with a balanced diet and a rigorous exercise routine then the public system will save you 10's of 1000's over the journey.. at least that how far I am in front by now paying it.

  • +1

    I dropped out of PHI last year. The premiums are going up 6% a year and the government doesn't care. If I want to opt back in later on I can will just cost more but I'm happy to pay 0 in the interim.

  • +1

    I would have had to fork out $12,000 of my own money for spinal surgery without private health insurance.

    The article sounds like a joke.

    As with all insurance, it will come back to bite you when you don’t have it.

    • -1

      Thanks. I'm astounded by so many people here not understanding that PHI is still insurance.

      I mean, do people complain that if they don't get into a car wreck, their car insurance premiums are wasted? Or if their house doesn't get flooded or burn down, that their home+contents insurance premiums are a waste?

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