Time to read : 3 Minutes
We all know healthcare isn’t free, but our latest research reveals just how much the cost of healthcare is shaping the decisions we make about whether or not we seek medical care.
From doctor’s visits to dental checkups, a growing number of Aussies are skipping essential care due to financial barriers.
And with out-of-pocket expenses climbing, the price for staying healthy has reached an all time high.
A nation struggling to afford healthcare
Australia’s cost of living pressures are no secret. But what’s concerning is that healthcare is becoming a luxury for many. According to our research:
41.7% of respondents have avoided visiting a doctor in the past year due to the cost.
Over half of us (56.5%) have skipped a dentist visit for the same reason.
More than 70% of Aussies said the cost influences their decision as to whether they seek healthcare services.
53.87% have spent over $500 out-of-pocket on healthcare in the past year, with nearly 19% spending over $1,000.
Who is hit the hardest?
Women and younger Australians are disproportionately affected by the impacts of high healthcare costs.
45.69% of women have skipped a doctor’s visit due to cost, compared to 34.29% of men.
61% of women have delayed a dentist visit due to financial constraints, compared to 48% of men.
Aussies aged 25-34 are the most likely to avoid a GP visit due to cost (51%), compared to just 18% of those over 55.
This suggests that for young Australians, who are often in the early stages of their careers with lower incomes, the cost of seeking healthcare every time they need it has become unaffordable.
Women who have higher medical expenses due to reproductive healthcare such as pregnancy or more chronic conditions like endometriosis, are also finding it tough to manage their costs. They are twice as likely to report paying a staggering $5,000 or more in a year on out-of-pocket healthcare costs.
Chronic conditions come with a heavy price tag
For Aussies with chronic health conditions, managing ongoing medical expenses is a significant burden.
34.6% of respondents said they suffer from a chronic condition, with mental health, back problems, and asthma among the most common.
More than three-quarters of people with chronic conditions have incurred out-of-pocket expenses for treatment.
Endometriosis patients face the highest costs, with 36% paying at least $500 per visit for necessary healthcare.
Mental health, diabetes, and cardiovascular disease are also among the most expensive conditions to manage, with more than 80% of patients reporting out-of-pocket costs.
A third of Australians with chronic health conditions claim that their private health insurance does not provide sufficient support for their conditions, and almost half say that they are not receiving enough support from Medicare.
How to cut healthcare costs without compromising your health
With no end to healthcare costs climbing, Aussies need to be savvy about managing expenses. Here are our most practical tips:
Use bulk billing services where possible
A growing number of clinics are offering mixed billing, but fully bulk-billed options still exist. Call around to find one in your area. It may take a few minutes but the savings are worth it, especially if you need regular GP visits.
Review your health insurance
If your private health cover isn’t meeting your needs, consider switching policies or changing funds. Take a closer look at what your health insurance covers and ask yourself if they are services you honestly believe you need.
Finding the right health insurance policy can be tricky. If you need some help, talk to the experts at Compare Club.
Plan for out-of-pocket costs
If you have a chronic condition, factor medical expenses into your budget the same way you would for rent or groceries. The other thing you may want to consider is saving up for a mini-emergency fund, in case your condition requires more immediate and costly care.
Bottom line
For Aussies looking to save money while maintaining their health, being proactive is key.
Whether that means reviewing health insurance policies, budgeting for medical expenses, or shopping around for bulk-billing doctors, taking action today could save you thousands in the long run.
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About the survey:
Our survey results included responses from more than 1,000 Australian households from New South Wales, Victoria, Queensland, South Australia and Western Australia, aged between 18 and 55+.
