The recent NSW election result should see the end of the public service wage cap. By far the biggest cost will go toward nurses’ wages. Unfortunately removing the wage cap while overall hospital funding is capped will make the problem worse.
The Federal Albanese government caps hospital funding at only 6.5% growth. Every 1% that NSW increases wages, is 1% less services hospitals can provide. While a real wage rise for nurses is long overdue, without further funding this will make the public hospital queues worse and worse each year.
It’s not just hospitals and not just NSW. The higher wages will now force other states and doctors offices across all of Australia to compete for nursing staff. State health departments and will engage in a round of ‘hunger games’ between each other for qualified nursing staff.
The squeeze on Medicare funding through persistent under indexation has forced many GPs to institute out of pocket fees for the first time, others to raise theirs substantially. In-hospital treatments in the private sector are under the same pressure, squeezed on two fronts between poor Medicare indexation and private health insurers.
Having additional cash flow, funded by your home, will provide a way to ensure you don’t miss out on the care you deserve.
Using Our Leg Up, the equity in your home can generate income without incurring a debt or any interest. Free up cash to meet health costs as they arise.