I SPEND over three grand a year on something I hardly ever use.
I may not ever have to use it – in fact, I hope I don’t.
Because the ‘thing’ in question is health insurance.
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If it were anything else – a gym membership, a second car that barely left the garage or a backyard sauna that hasn’t heated up a human in years – I would get rid of it.
I mean, the general consensus would be to bin it, right? Get rid of the offending, unused cost centre and save those pretty pennies for a rainy day?
The logical side of my brain says so.
But because this is health insurance, which plays on fears, the idea of cancelling my policy is making me conjure up all sorts of ghastly ‘what if?’ scenarios.
They all end the same way: with me, my partner or one of my kids diagnosed with a serious illness, and no private health cover to support it.
But premiums are about to go about again – another 6 or 7 per cent.
I already pay $280 a month, or $3360 a year, for medium health coverage (it’s not even top cover!) for a family of four. Now, it’s inching across the $300 mark.
And for what?
A subsidised pair of reading glasses every year and the odd remedial massage?
As further food for thought, my daughter has actually been seriously ill in the past – at three weeks of age, she contracted viral meningitis. She was admitted into the paediatric ward at the old Southport Hospital, where she received excellent care and treatment until given a glorious clean bill of health four days later.
Which makes me wonder…
Do I really need to continue paying this whopping amount each year to access supposedly superior private facilities… Especially now that we have the billion-dollar Gold Coast University Hospital on our doorstep?
Or can I get away with cancelling my policy and socking those funds away in a ‘medical expenses’ account, to draw on if and when needed in the future?
I truly don’t know. I suspect I’m not the only Gold Coaster weighing up the pros and cons of health insurance right now, but I’m genuinely stumped about what to do next.
Do you reckon private health insurance is a good idea, or is it just one giant rip off?
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