Why Carry Medical insurance, Medicare Pays for Everything, Right?
Wrong. Unfortunately, Medicare does not pay for everything. Even if you are covered by Medicare, private health insurance still makes sense. Medicare is good, but it isn’t perfect. There are still waiting lists and no one wants to wait for a doctor when one needs to be receiving treatment instantly. Examples of items not completely covered by Medicare include private patient hospital costs, ambulance services, physiotherapy, dental examinations and more. All these items are needed if you are looking to provide yourself with holistic health care for you and your family.
The Public system will offer an Australian citizen’s hospital stay, covered by Medicare, but if you would like the option of a private room or some say in who your treating doctor will be, much less where you will go for treatment, you need a private medical insurance policy. It is for this reason that many complain of the lack of flexibility offered by Medicare. If you choose a private health care facility, regardless whether they specialise in your specific condition, Medicare will only cover 75% of the cost detailed in the schedule of benefits. In a private setting this can leave patients with extremely high out of pockets costs unless they have separate medical insurance. Medical insurance can cover the difference between Medicare coverage and the actual cost of the health services you receive.
It makes a lot of sense to purchase private health insurance, as you are purchasing additional options that the Medicare and public system do not offer you. Remember to have a look at each policy carefully before you purchase to make sure you receive the best deal for what you want.