According to various news reports, private health insurance is a dying industry in Australia. But are Aussies really quitting on their health insurers?
A recent report from APRA** shows an influx of more than 103,000 people taking out hospital cover in 2020.
Smart Aussies know better than to walk away from their health cover altogether. Instead, they’re switching funds and finding more value for their money in the process.
It’s often better to cut costs rather than cancelling the policy altogether. Here’s how you can cut the unnecessary costs:
- Know your needs
There are two different types of health insurance: hospital cover, which is for in-hospital expenses such as accomodation and doctors fees, and extras cover, which comprises the services you might need outside of the hospital, such as dentists, glasses, contact lenses, and physio.
Knowing exactly what you need from both hospital and extras cover is the first step to saving money.
- Don’t set and forget
Your health needs are bound to change with health and time. Reviewing your policy frequently could ensure you’re paying for what you really need.
And remember, if you’re switching to a hospital policy that has an equal or lower level of cover you won’t need to serve any new waiting periods.
- Shop around
Each health insurer has different offerings and it could be worthwhile to shop around in order to get better value for your money.
If you’re dreading all the work that goes behind comparing policies, leave the headache to us. Our team at Health Insurance Comparison takes care of all the paperwork and helps you find health cover suited to your needs.
Here’s How You Do It:
Step 1: Select your current life stage below.
Step 2: Once you select your preferred coverage options, you will have the opportunity to compare quotes from multiple health funds.
In 2020 alone, our experts at Health Insurance Comparison helped save customers $312 on average**.
So if you feel you’re overpaying and want to find a better deal, in just a few minutes you could be on your way to hundreds of dollars in savings.
Switch, don’t ditch your health insurance!
Get Started Now:
Step 1: Select your state below .
Step 2: After answering a few questions, you will have the opportunity to compare quotes in your area and could be eligible for significant savings.
*APRA, Quarterly private health insurance statistics, February 2021
**Based on 25,311 customers on 2020