Settlement Guide: Is private health insurance worth it?

Medicare card

With a private health cover, one can access an elective surgery in a private hospital with very little wait times. Credit: AAP Image/Mick Tsikas

Medicare is Australia’s universal health insurance system, guaranteeing all Australians access to health services. Yet more than half of all Australians have private health insurance. While many buy it to avoid long wait in government hospitals or to access services like dental care, others do it for tax benefits. But is private health insurance worth it for you?


Medicare covers costs such as GP visits, treatment and accommodation in public hospitals and most prescription medications under the Pharmaceutical Benefits Scheme.
However, Medicare doesn’t cover services like ambulance, eyeglasses or contact lenses, osteopathy etc.
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