Why does anyone need health insurance?

 Why does anyone need health insurance? Why do you need health insurance? In your case, you have excellent health, never smoke or do drugs, and rarely drink. You want to keep your expenses low and don’t think health insurance is vital, UNTIL of course the doctor calls you back about that persistent cough you have had for months. It turns out that the cough is just a symptom of something deadly, nonsmokers lung cancer! Now you are panicking because the doctor is prescribing gene and stem cell therapies, a cocktail of expensive medicines, and of course the costly chemotherapy. Not only that, but you will have to miss many days of work to go to your medical appointments and many hospital visits!  What are you to do!  Desperate, you turn to Google to find providers of affordable health insurance which is easy to obtain. After many hours of research, you come across iSelect. Curious as you now are, you surf their website to find out more about the health insurance they offer.


Why iSelect?

It turns out that iSelect is a health fund organization which has partnerships with Australia’s leading health insurance companies. This means you can shop around for health insurance carriers until you find one which offers the policy with the benefits you need at a price you can afford!  After reading their website, you learn why everyone, including you, should have health insurance.  Health insurance exists as a risk hedging mechanism. What this means is that it helps you pay for unforeseen and foreseen health related expenses should you ever get sick.  Since this definitely applies to you, you read more and discover the following. Two types of health insurance exist in Australia in terms of private insurance: hospital covers and extra covers.


What are hospital covers?

You scroll down on the health insurance section of their website to find out what a hospital cover is, you learn the following. A hospital cover is private health insurance which pays for your health and other related expenses when staying in a public or private hospital, or day hospital facility. You learn, however that these expenses are only covered up to the Medicare Benefit Specialization (MBS) fee. You also learn that the private health insurance part type of hospital cover will sometimes pay for ambulance visits. You breathe a sigh of relief because you know that trips the hospital in an ambulance can be expensive.


About Extra covers…

You read further and learn that extra covers are also referred to as ancillary covers because it offers benefits for routine dental and medical treatments that Medicare would not cover. Good examples are physiotherapy, routine dental cleanings, root canals, and optical exams, etc…


In conclusion…

You breathe a sigh of relief because you look through the website and find that iHealth insurance has partnerships with many health insurance providers which offer the insurance plans you can afford with the benefits which  you want and need!


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