I agree, it's a hard one. Lately my DH has been saying we should cancel ours too because we 'never' use it, and can get fantastic public care. Except...I've used it for dental, optical, hospital cover, fertility procedures and alternative therapy. We're with NIB - the cover is really reasonable and service is great. And I definitely want it for when we have this bub.
I'm a bit of a worrier/planner, so I must admit I feel 'safer' knowing I have it if something went really wrong. Today I've been thinking about that poor woman holidaying in Bali who suffered renal failure and is now in a coma after drinking a very dodgy ****tail. It cost her family $40k to fly her back to Australia - they didn't have travel insurance. Different insurance and situation, but you just never know.
Shopping around and getting lots of quotes is a good idea. Then you know you've made an informed choice.
I'd never be without at least basic hospital cover. I've used it for the birth of my DS, but found it wonderful when I had a mc last year and was in for my d&c the very next morning, a friend waited an agonizing 5 days at around the same time in the public system. I've also had to have an endoscopy for my coeliac diagnosis, there is a MINIMUM 12 month wait in the public system, I waited 5 days! We would have to pay the Medicare surcharge, so we would have some level of cover regardless but we have top level corporate cover that is partly subsidized through my DH's work.
My family are very pro private health but my DH's family aren't at all. My little brother (foster bro) had to have a spinal fusion (twice- poor bugger). He had no wait because he could see the specialist privately as opposed to waiting to go through the public clinic. He would have had the same operation, with the same surgeon, in the same hospital via the public system...but he may have had to wait as much as 12-18 months longer by which time he would have been in a wheelchair it also meant he got a private room etc which made the two weeks in hossy my mum had to sleep beside him far more bearable.
So, to me, if you have children, it's a necessity, not a luxury.
We have chosen life/accident and trauma insurance over private health insurance. Where we live any major medical problem is dealt with via the public system and is dealt with reasonably quickly. The same Dr's in the private are the same ones in the public hospital. There was less than 3 months wait for a procedure for me going public.
When we were in Melbourne DH had a life threatening condition, he was seen quickly. When it came to his surgery he had the top Professor in the field do his surgery. We had district nursing visits when we came home, which we found out later if we had private health insurance would have left us $100's out of pocket, as opposed to us just paying for the dressing supplies.
I do have some basic extras and have done since I left home, it costs me very little. When we are more financial I will look at if we can have the family just covered for extra's and not hospital, as I want the girls covered for any major dental.
My sister before she died of cancer gave me one piece of advice and that was to have life insurance instead of private health.
A couple of points: iselect is a private business, it is not run by the government. They promote the insurance agencies who pay them to. I believe there is a different, independent organisation that does the same thing.
I can't remember who told me this or if it's accurate mathematically, but I'm pretty sure if you must have either hospital or extras, take hospital. A stay in hospital could cost you tens of thousands of dollars, depending on the condition. You rarely go through that much in extras. dental can get up there, but it's so expensive anyway. Apparently, you're better off saving for the extras things like dental, optical, chiro etc. I've never actually done the maths. I should do - we're with Aust Unity and we pay a fortune.
I have to look at our cover, as we're paying through the nose to be covered for a homebirth. Well, DS1 came 5 days before our 12month wait was up, so we weren't covered. We did get the midwife reimbursed for DS2, which was a bonus, though Medicare can pay some of it now (circumstances depending). As it was, we ended up birthing in the public system twice in a year and didn't pay a cent. It's not likely I'll ever have a homebirth now, so we don't need that level of cover. Though apparently if we go to the Aust Unity dentist in the city, we don't pay a cent.
Saying that, I have acupuncture weekly, regularly go to the osteo/naturopath etc. Dh has optical. I've run out of PHI claims on many of my extras. I even claim vitamins. I also know my Mum paid a small fortune for all my orthodontic work back in the day (thank goodness for being covered up to 21).
I've heard LaTrobe is good. I need to do my research too.
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it also meant he got a private room etc which made the two weeks in hossy my mum had to sleep beside him far more bearable. 
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