4 Easy Ways to Reduce Your Private Health Insurance Premiums
A few simple tips to cut your health insurance costs
Hefty increases in health insurance costs in recent years have left many Australians under increasing pressure when it comes to paying their monthly premiums.
If you’re one of the many Australians looking to reduce your health insurance premiums over the coming year, you’re in the right place. Read on to learn five easy ways to reduce your private health insurance premium.
1. Increase Your Excess
A simple way to reduce your monthly health insurance premium is to increase your excess level. Remember, you’ll only pay your excess when you make a claim so the benefit of increasing your excess to your monthly premium could well outweigh the cost you might incur when you do make a claim. If you’re comfortable raising your excess to the maximum amount it could save you a significant amount each month.
2. Cut Out Unnecessary Extras
Are you paying for Extras you’re not using in your current health insurance policy? Consider what your family really needs and cut out the rest. Many people pay for Extras like optical, physiotherapy and natural therapies for years and never make a claim. By cutting out these Extras and just keeping the essentials you could make big savings month on month.
3. Shop the Market
When you first signed up for your current health insurance policy, you likely did a whole lot of research. But with every health insurer raising their premiums by different rates each year, what was the best deal five years ago is probably not the best deal today. It pays to shop around and a comparison service like HealthInsuranceComparison.com.au makes it easy. Compare health insurance funds, cover options and pricing side by side to reveal the best health insurance deals on the market and save big.
4. Pay Annually
Every April Australian health insurers are granted permission to increase their premiums. By paying your annual premium upfront before the April rate increase each year, you’ll lock in the previous year’s pricing for the entire next year. With the average family policy rising by around $200 this year, that’s a potentially big saving.
HealthInsuranceComparison.com.au is a trusted online service that makes comparison shopping for vital health insurance easy. With the click of a button, search a range of health insurance policies to find the right policy, with the right cover, at the right price for you and your family.
Disclaimer: The above information is correct and current at the time of publication.
Here’s How You Do It:
Step 1: Click your gender below.
Step 2: Once you go through a few questions, you will have the opportunity to compare the quotes in your area for an average savings of $375.44* a month.
*based on our monthly average customer savings in March, 2015.