A survey commissioned by online financial broker Savvy has highlighted the number of Australian families without private health insurance.
The COVID-19 pandemic has seen many people taking out health insurance in response to concerns over the public health system.
The new survey of 1,000 people has revealed that almost one-quarter of Australian families (23 per cent) are going without health insurance while another quarter are spending more than $81 per week on premiums.
Of those surveyed, 12 per cent said they could respond to the cost of living challenge by downgrading their cover, with another 12 per cent saying they might switch providers for a better deal. Those aged 35 to 54 are most likely to search for a better deal, while young people are most likely to cancel their extras.
Over one-third of singles and three in ten couples have no health insurance. Over half of single-parent households have no health insurance.
“With costs of living only seeming to go up, people who feel fit and healthy may be looking at their health insurance and wondering, ‘is this worth paying for?’,” said Savvy spokesperson Adrian Edlington. “Of course, that’s why we have insurance, to prepare for the unexpected.
“If they haven’t figured out whether paying for health insurance is more cost-effective after the rebate and being saddled with the Medicare levy, now is the time to make that calculation. The benefits will usually outweigh the costs, even if it’s just peace of mind.”