Wednesday 18 December 2019

expensive health cover

Here's one reason for expensive health cover:

A "health comparison website" -- iSelect -- announces that "Australians could be dudding themselves hundreds of dollars..." (The West 17 Dec)  Are we being ripped off... yet again?

Well, no.

The website is "worried" that we could have paid $500 for extra cover and claimed only $100. Missing out on a possible $400. So "get claiming", they say.

Any mention of *needing* the money? Any mention of *gaining benefit* from the extra services? Noooo... What is important is, to get back as much money as possible.

For the main health cover, would this website also recommend breaking a leg -- just to get more money back?

Insurance is a "just in case" bet against the insurance company. There is no entitlement to get money back -- unless the health service was necessary. If you don't need the extra services, you do not need to get the money.

Let's see. 13.6million people with extras cover, each claiming an extra -- unneeded -- $400. That's $5,440 million in "health cover" payments. Five and a half billion in extra payments because a website suggests that getting an unneeded insurance payout is an entitlement.

What could health insurers do with an extra five and a half billion dollars? Reduce the premiums for the average punter, perhaps? Well, probably not. Lower premiums are as unlikely as only claiming what we actually need.

We are being encouraged to claim every possible cent. Whether we need it, whether we deserve it, or not.

No wonder health cover is so expensive.



Dr Nick Lethbridge / Consulting Dexitroboper
...        Agamedes Consulting / Problems ? Solved
===

"[The] truth is incontrovertible. Panic may resent it, ignorance may deride it, malice may distort it, but there it is." ... Winston C hurchill

===


Dying for you to read my blog, at https://notdotdeaddotyet.blogspot.com.au/ :-)



1 comment:

Orry said...

Should only claim what you are entitled too. Didn't read the article but if it's a fair claim so be it.