Cost of Private Health Insurance

Gone are the days when your only responsibility is completing a single house chore to get $5 of extra money from your parents. Now, you are a full-grown adult with lots of expenses and financial responsibilities to think about, including private health insurance. Basically, private health insurance is something that you shouldn’t overlook. The same with any insurance, this one is designed to secure you and your finances when life gets hard.

This article will discuss the importance of having private health insurance and how you can select a plan with the most bang for your buck. It’s brought to you by Perfect Payday, a payday loan company that can help you get an emergency loan.

Exploring the importance of private health insurance

Access to proper health care is one thing all people should strive to achieve. Though you can obtain some cover from Medicare, nothing beats the security offered by private health insurance in case you get sick or suffer from injuries. If you can’t imagine yourself traveling abroad or driving a vehicle without insurance, then you shouldn’t allow yourself to live each day without having proper insurance. But what’s really with private health insurance that makes it essential to everyone’s life?

It offers you peace of mind

As you get older, you start to realize that life is packed with the unexpected and this is why insurance is introduced. They will shoulder your expenses in case you lose your valuables in one of your trips abroad or your house gets flooded. Unfortunate events are unforeseen and you don’t have any idea where they will strike. But, having private health insurance will provide you peace of mind amidst this emergency situation.

It helps you save money for the future

When paying for private health insurance, the only picture that most people see is the initial monthly expense. Due to this, they often seek out short-term loans to settle the cost of the insurance for that month. Good thing you are about to see the bigger picture. By the time that you reach the age of 30, health care offered to you will be much more affordable. The catch? The earlier you secure private health insurance, the more health coverage you’ll enjoy. Moreover, in case you need daily treatments such as chiropractic, physio, cardiac, or optical, you get to save money each time that you avail of these services, and some of them are completely covered under your private health insurance. Basically, if you regularly need health treatment, you would have to chance to save up a lot of money by simply utilizing your health care to shoulder a percentage of these medical expenses.

You can access the proper health care that you need

Another importance of having private health insurance is you will have the power to look for medical treatment that isn’t shouldered by the public system. For instance, in the case that you want your wisdom teeth extracted. This particular procedure is beyond the coverage of Medicare and it usually costs around $200 to $400 per tooth, alongside the price of general anesthesia and sedatives. Basically, you will have to pay around $1, 500 to $3, 000.

Private Health Insurance Coverage

If you are not someone who needs daily medical treatment, private health insurance also cover other aspects of medical expenses, including the following:

Ambulance cover

In several states, ambulance cover is considered free, no matter what health care plan you have. But, in other states, ambulance cost starts at approximately $350 and can reach up to $6, 000, together with a per kilometer rate for the overall distance the ambulance needs to travel to and fro the hospital and your location. This is a huge addition to your medical expenses and a painful financial responsibility to deal with. With this, it pays to secure private health insurance since it covers all ambulance fees.

Hospital cover

One advantage of hospital expenses is they are generally free in most states, provided that the patient go to a public hospital. However, Medicare doesn’t shoulder medical expenses from private hospitals. This is where private health insurance gets in the picture. It covers all public and private medical fees, giving you nothing but peace of mind while you are recovering from your health complication.

Shopping for the most affordable health insurance

You can research the best and cheapest private health insurance online and take your pick from there, or you could visit a comparison site and let them do the rigorous job for you. Ideally, your plan will vary according to your gender, age, present health care needs, and the number of family members you want to be covered.

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Private health insurance is the perfect insurance you need in case of unfortunate health incidents. It will save you from worrying about the expensive medical costs while also giving you the chance to seek the best health care for you and your loved ones.

Saving Money in Winter

Winter often means layers of clothing, hot water bottles, and taking advantage of the sun as a natural source of heat. Here are a few money-saving tips on how you can stay warm in winter without damaging your budget.

1. Invite Mr. Sun into your house

This first tip is pretty much a basic concept but it can save you a lot of money when the colder season kicks in. Instead of switching on the reverse-cycle of your air conditioning, open your curtains during the day, specifically those that are in your north-facing windows. This will bring the heat inside your house and give you more warmth. When the sun sets, close the curtains to trap the heat inside.

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2. Reduce your heating system

In the middle of winter, this might seem a little odd, but, as much as possible, you don’t want to spend all your monthly budget on excess heating. Reducing the heat is a more affordable and less demanding approach compared to completely shutting it off. Basically, you have to turn it off when there’s no one in your home. But when you’re back, reduce your heating system down to a few degrees, especially during the night.

3. Invest in rugs, literally

If your house has tiles or timber floors, hit the mall and find some chic rugs that you can lay down for extra insulation. Despite having carpeted flooring, you still need a rug to provide warmth to the rooms in your house. Invest in rugs with greater stitch count and select wool rugs that are denser and more heavy-duty.

4. Take advantage of your ceiling fan

Some might not know this but you can use your ceiling fan to provide heat inside your house. Typically, ceiling fans are utilized during the summer season to give cool and fresh air. But this summer essential can also be used to warm up your house. It has a switch that activates the blade to spin in a clockwise direction, pushing hot air at the top of your house downwards to the ground.

5. Eliminate comfort food from your grocery list

Though winter is for eating delicious, comfort food, you might want to pass on it this time. Don’t purchase freshly baked brownies and other products that are influenced by your impulsive way of shopping. Create a budget for how much you just need to spend each week, write down all the things that you need, and stick to it. You can also cut down on grocery expenses during the winter season by preparing bulk meals and refrigerating the leftovers. Defrosting home-cooked meals is more economical compared to ordering food for takeout. Plus, you’ll be much healthier, as well as your budget.

6. Layers, layers, layers

Rather than blasting your heater and chilling on your couch in a t-shirt and shorts, why don’t you try the art of layering? Layering your clothes and blankets is a great way to provide insulation to your body. Turn off your heater, get some blankets, prepare a soup or tea, and enjoy the comfiest and warmest time of your life – at least during the winter.

7. Indoor movie nights

Movies are timeless winter activity but they can get a little expensive too. Instead of exposing yourself to the extreme freezing weather outside while trying to get to the cinema, gather everyone in the living room and have an indoor movie night instead. This one won’t cost you anything. You just need to prepare some blankets, great movie selection, and of course, popcorns! And you are all set.

8. Cut down expenses on petrol

Petrol is costly and that doesn’t require a lot of summation to figure out. During winter, your car consumes a lot of it since you need to switch on the heater while you are driving – you need warmth too, totally understandable. Knowing this, make an effort to cut down your expenses on petrol. You can do this by riding public transportation instead of using your personal or family car. Other than this, try to carpool with your friends on your way to work and home, then divide the petrol expenses.

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9. Maintain cleanliness in your vents

To stop dirt and dust from accumulating in your vents and radiators, make it a habit to regularly vacuum and clean them. Dust can prevent the heat from efficiently moving into your rooms and it can trigger your heater to operate harder than it normally does, which means additional electricity expenses for you.

These are all the top money-saving tips that you can religiously practice this winter.

About the Author

Lucy has over a decade of experience in finance. She is currently the content curator here at Perfect Payday.

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