Health insurance changes will blight Aussies

Changes to the way health insurance rebates are calculated will leave lots of Aussies out of pocket.

From next month, concessions will be reduced or removed if households earn more than $168,000 a year. The same will apply to single people who are paid in excess of $84,000 per annum.

A poll conducted by Galaxy has discovered that two-thirds of Australians believe this will hurt them financially, the Daily Telegraph reports.

Without the 30 per cent rebate, ten per cent of the country will cancel their health insurance, while a further 20 per cent will downgrade their policy.

The reforms come at a time when many Aussies are finding it hard to cope with the rising cost of living and a lot of people's bank accounts are looking fairly bleak.

However, cancelling your health cover could prove to be a massive mistake and may cost you a great deal more in the long run. It is vitally important that you have insurance in place just in case you are taken ill or have an accident.

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