Grad Money Matters is primarily about branching out and finding different ways to make money. So, what if self-employment is for you? One major thing to think about is private health insurance.
A big reason for why many freelancers don’t make the complete switch to self-employment is because they think finding private health insurance may be impossible. Health insurance as a self-employed person can be an expensive line item in a budget.
However, finding private health insurance does not have to be such a scary thing. It is highly likely that you will find the perfect plan for your needs.
Health insurance is important.
As a self-employed person, you might think about trying to get by without health insurance. However, don’t do that! Health insurance is so important. You never know if something may happen. Life doesn’t always follow your exact plan, and you never know when something medical may come up in your life.
What would you do if you needed a $20,000 surgery? Could you afford it without health insurance? Or would you have to go deep into medical debt? Health insurance can take a lot of the stress out of medical issues.
Find the perfect plan for your budget.
There are many different plans out there for you. Premiums can vary by a good amount. Are you looking for a low monthly payment in return for less coverage? Or are you wanting more coverage, which comes with a higher monthly payment?
Different insurance options.
Below are some examples of different health insurance options:
- HBF Hospital and Essentials coverage pays benefits on things such as accommodation in a private hospital.
- HBF Hospital coverage pays benefits for things such as accommodation in a private hospital, theatre and specialist fees, as well as allowing individuals to choose their own doctor and avoid long waiting lists.
- HBF Essentials coverage pays benefits on up to 22 day-to-day services including dental, optical, podiatry, occupational therapy, and so on.
- Ultimate coverage is the most comprehensive combined Hospital and Essentials product available in Australia. It fully covers most hospital visits and patients receive between 90% to 100% back on 36 essentials services such dental, optical and remedial massages.
How did you find private health insurance when you switched to self-employment?