I toss up cancelling ours all the time.
However. .my husband has a pre existing eye condition and wears special lens for it in one eye. I wear glasses. In the last 3 years hubby has ended up in hospital with pneumonia and cellulitis. With his pneumonia he got in to a lung specialist as he had ongoing problems which happened much faster than seeing someone through public system. In fact we got a letter 12 months after referral at public hospital to see the respiratory team. Still had some out of pocket obviously. He also had hernia op. .. and that happened in a matter of weeks rather than waiting through public system.
As for our daughter. .she sees all her specialists publicly.... there would be no difference with her treatment private with ENT or cardiology. .or metabolics...etc etc. She can only be treated through the children's hospital. However her paediatrician workss at our local private one and when she's had a few viruses we've been able to admit her (no excess) to be observed and tube fed etc.
All that said. .. I'm still not sure it's worth it ... only plus really is waiting periods... very long waits at our public hospital for adults. .. but private much less time. I'm also concerned as we get older we might need more cover.
I did hear a financial consultant say once that if you were to put aside the same amount of money into an account that you would save on PHI you'd have enough to cover glasses and dental etc etc.