I currently do not have any private health insurance, should I join one now? I'm not the healthiest but I don't get sick often (knock on wood) but due to the corona I'm thinking about joining. Can you suggest any bargain covers?
Should I Join Private Health Insurance Now?
happirt on 24/03/2020 - 12:32
Last edited 24/03/2020 - 13:18 by 1 other user
Last edited 24/03/2020 - 13:18 by 1 other user
Comments
If you get corona, private health insurance will not provide any benefit
What if you don't have the corona? Be bundled with people who do have it?
People in hospital with carona are in ICU
No most are not, unless they are ventilated. Most are in negative pressure/isolation rooms.
Coronas is not the only reason why one may end up in ICU or in waiting rooms..
People with private health insurance also get coronavirus.
Crazy, I know.
Would rather you actually answer the question rather than stating something irrelevant to the issue presented.
Not everyone who needs medical treatment has corona or need treatment because of or related to corona btw. Other medical issues still exist you know, Crazy news!
@Ughhh: Of course they do. And they could still have coronavirus.
I was replying to your post which was not a question.
My answer to OP would be that I see no tangible benefit. OP's circumstances may differ to mine though.
@iDroid: It's about risk.
I was replying to your post which was not a question.
Pretty sure there's a question mark there mate
@Ughhh: Pretty sure that was a rhetorical question mate.
It was a statement that implied that you'd be bundled in with coronavirus patients/infected in the public system and not in the private system.
You just put a question mark at the end.
Private health insurance only gives you a bed in a private hospital
If there is a bed!
maybe there's more chance to get bed in private then public when the shit hit the fan?
but I'm curious under what category the treatment for the virus fall into.apaprently that depends on what kind of complication and treatment you need as the result of the virus.
here's the summary from Medibank
It's likely that you will be admitted to a public hospital for treatment for the coronavirus. However, if you're admitted to hospital and treated as a private patient, then Medibank will support you by paying benefits towards the treatments that are included under your policy.
If your hospital admission is considered a medical admission then Bronze or higher levels of cover contain the Common and Support categories that may be required.
For pneumonia or other chest or lung complications, your level of hospital cover needs to include the Lung and Chest clinical category. This is included in some Bronze Plus covers, and all covers that are Silver and above.
For members at risk of being admitted with renal issues, ‘Kidney and bladder’ is included on all Bronze products and above, and if ‘Dialysis for chronic kidney failure’ is required, this is available on select Silver Plus and all Gold products. To understand the hospital items included under your policy, please log in to My Medibank, or call us on 1800 789 414.
Standard excess, waiting period and pre-existing condition rules apply.
If you are admitted to a public hospital and treated as a public patient, your treatment is fully covered by Medicare and you don’t have to use your private health insurance. In fact, you may end up paying extra if you do use your private cover (for instance, if your policy includes an excess). Please check with your hospital.
Only reason to join is if you are going to be paying more in Medicare Levy. Don't join it expecting to be getting benefits, because private health insurance is really about keeping private health insurers in business and some money to private health (subsidised by the tax payer)
PHS is mostly beneficial for elective items. Such as dental work, frequent other specialist appts, or elective surgeries.
If I was to be admitted to hospital as an emergency (eg coronavirus), I would never opt to use my PHI as a lot of the time your out of pocket expenses end up higher than had you just gone public.
If you get COVID19 you'll be treated in the public system
The typical issue with private health insurance is that most of it is covered by medicare anyway, so even if you do get sick since its likely you're covered for medicare for that condition, the help may be minimal. Theres also the fact that the savings you may have over years, may offset the cost of a once or twice off issue.
In saying that, everyone is different and you don't know what the future is like, there may be certain reasons or things that make health insurance better for you, or at least give you peace of mind.
From a financial aspect I know there is this questionnaire: https://www.doineedhealthinsurance.com.au/
As having health insurance may mean you won't pay the medicare surcharge (or is it levy I always forget which), that comes in if you get over a certain threshold a year ($90k?) or if you're 31 years old or over I think it increases per year you don't have it or similar (worth looking up). Which means for some people, they might as well get it.
Best of luck.