One of the most common questions I get as a budget coach is, “Is private health insurance really worth it?” Burdened with big mortgages, rising child care costs and low wage growth, it is only natural that young Australians question if the growing cost of health insurance is really worth it. The problem is there are so many variables, not to mention misinformation, to consider that it is almost impossible to make an objective decision. So in this article I will walk you through the key factors to consider when considering if private health insurance is worthwhile for you. We have a good public health care system Let me just start by stating that despite the fact we all whinge about waiting times in hospitals – whether that be sitting in A&E in the middle of the night with a sick child or waiting 2 years for a hip replacement – our Public Health system is world class. The long waiting lists are typically for conditions like hip and knee replacements or cataract surgery. If you turn up at a public hospital with a serious injury or illness you will get the treatment and care you need in a …