Aussies not reviewing their health insurance extras could be missing out on hundreds of dollars worth of savings

Many Aussie families pay hundreds of dollars for extras coverage each year but don’t spot the signs that they’re wasting money on policies that don’t offer good value for money.

What’s more, there are extras policies that give you dental and optical coverage for the surprisingly affordable price of just $3.90 a week*, while people who want top coverage for top dollar should know they can get over 80% back on common extras*.

And with several well-known health funds resetting their annual extras limits on July 1, it’s no wonder that Aussies with extras cover are resetting their whole policy and finding a new fund.

Paying too much?

Australia: We saved our average customer $312* on their average annual premium! Select your age and see how much you could save!

*Average savings based off 25,311 customers during 2020

What does it mean when extras reset? Well, if you went over your annual limits or didn’t even come close to them then, then you could be on the wrong policy.

Members who exceeded their extras limits before the 2021 reset date might want to consider a higher level of cover that helps cut their out-of-pocket expenses and gives them more back at the dentist or physio.

But anybody who didn’t hit their annual limit might consider downgrading to a cheaper policy to save money on the monthly premiums. 

Finding good value is also about how much your health fund pays back in benefits. For example, if you spend around $250 per year on glasses, but your health fund only covers $150 per year, you’re leaving $100 on the table

If you have a health insurance policy with ahm, PeopleCare, Defence Health, Navy Health and OneMediFund, your extras will be reset on 1 July 2021.

The easy way to save on health insurance

Getting a good deal on your health insurance isn’t hard. And Health Insurance Comparison makes it even easier.

You can compare a range of extras packages in a matter of minutes and our specialists know all the tricks of the trade, so we’ll always try to squeeze that last little bit of value out of your policy.

People who compared and switched health insurers with us in 2020 saved an average of $312^.

So if your health fund is one of the five who resets their extras at the end of the financial year – or if you just think you’re on a bad deal – take a few minutes to see how they stack up against the insurers on our panel.

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.

Choose your area.

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*Average savings based off 25,311 customers during 2020

*Price correct as of 18 June 2021, based on a singles extras only policy for a customer under 65 based in NSW
^Based on 25,311 customers in 2020.

This article is opinion only and should not be taken as medical or financial advice. Check with a financial professional before making any decisions.

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