HIF News

In early September, the Government passed an amendment to the private health insurance legislation. The goal is to make health cover simpler and more affordable for Australians. The changes as a result of this amendment will be rolled out on 1 April 2019. So what are some of the major health reform changes and how might they affect you?

Have you ever heard of the term “self-insurance”? It’s being referred to as an alternative to the traditional process of taking out a health insurance policy as a safety net. But can you really afford to self-insure and is it the safest option? According to finance and insurance expert, Bessie Hassan from finder.com.au, “The answer is probably not. You never really know when a medical issue can pop up and how much it’s going to cost you, the reality is that not everyone can afford to fork out $35,000 when the time comes.” With this in mind, Bessie  discusses the importance of having health insurance and being covered if the worst happened.