5 Reasons Women Under 30 Need Health Insurance

5 Reasons Women Under 30 Need Health Insurance

The latest data shows that 45.8 per cent of Australians have private health insurance, as reported in 2018 by ABC News. As with many countries around the world, the Australian government offers its residents a free public health care system. However, for various reasons, many individuals have opted to use private health insurance to keep themselves as healthy as possible. If you are unsure about whether or not insurance is the right option for you, there are several variables to consider. Explore five top reasons that women under the age of 30 need private health insurance.

The Unexpected Can Happen To Anyone
It is a common misconception that those who are younger do not need added health protection. However, each year in Australia, there are over 460,000 hospitalisations due to injury, which can happen to anyone. Additionally, many women who are 30 and younger require hospitalisation for sudden illnesses. No matter how careful or healthy an individual may be, injuries and illness can strike anyone at anytime. After the initial hospitalisation, additional surgeries, medications, and visits with specialists are almost always needed. As a result, having as much health care protection (even for those who are young) is always recommended.

Costs Are Often Affordable & Help Cover Out-Of-Pocket Expenses
Another big misconception is that private health insurance options are always expensive. Thankfully, this is far from the truth, especially for those who are young.For example, Qantas health insurance for under 30s provides specific discounts for people in this age group. In addition to bonus discounts, the base cost of private health insurance is least expensive for young adults. Even in the short-term, a plan that covers out-of-pocket expenses can make sense financially, and ease the strain of unexpected medical expenses.

It Is Strongly Encouraged If You Can Afford It
If your annual income is above a certain amount, the Australian government strongly encourages you not to use the free public system. Even if you are not considered a high earner, officials state that those who can afford to pay for their own insurance should do so. This is to help the current system run as efficiently as possible. In addition to the personal benefits of private health insurance, responsibly choosing your source of health care coverage is also of public importance.

Prevent Having To Pay Medicare Levy Surcharge
For those who are unfamiliar with the specifics of the country's universal health care system, it is primarily paid for by a 2 per cent tax on wages. Additionally, penalties are assessed to those who choose not to take out health insurance, and premium rebates are given to those who do not use the public health care system. Therefore, if you are looking to avoid paying a Medicare levy surcharge, it is wise to explore the private insurance options that work best for you.

Reduced Wait Times For Elective Surgery
When in need of emergency care, public hospitals strive to prioritise treatment in order of severity. However, for individuals who require what is considered to be "elective" surgery (i.e. non-emergency surgery), wait times are much longer for those who use the public health care system. In some cases, ABC News reported that those with public health care may wait double the amount of time to receive an elective surgery (when compared with those who have private health insurance). If you anticipate needing a surgery, or would like the protection just in case, having your own insurance can significantly reduce the time it takes to get the care you need.

Although individual circumstances vary, many women under the age of 30 could benefit greatly from getting a private health insurance policy. If the above points apply to your situation, it is best to contact an insurance professional as soon as possible to review your options.