Got the feeling it’s time to say goodbye to your current health insurer? It’s understandable. High premiums and poor customer service are just some of the reasons Aussies are ditching the big name funds.
But if you’re just looking to cut your costs, there is an alternative – and it doesn’t involve cancelling your cover.
Health Insurance Comparison is a free service that’s been helping disgruntled health insurance holders save big on their health insurance. Last year, we saved Australians an average of $312 when they compared and switched health insurance with us.
Wanting to cancel your health cover is understandable. But it’s not without consequences for both your finances and your health.
There’s no safety net if you need surgery. Australia’s elective surgery waiting lists are long and you could face a substantial wait if you need to have joints replaced, for example.
There’s also the potential for a large dentist bill. Medicare doesn’t cover most dental treatments. That means you’ll have to pay for the whole treatment without claiming a percentage back.
The health insurance tax-dodge tactic
Having appropriate health cover means you could avoid having to pay the Medicare Levy Surcharge if you earn over $90k (or $180k as a couple). Most cheap Basic and Bronze hospital policies will help you avoid this charge and help you save money on your tax bill.
There’s also the Lifetime Health Cover loading that applies every year if you’re over 31 and don’t have hospital cover – making it potentially more expensive to take out health insurance if you decide you need cover in the future.
And if you do decide to rejoin your fund, you may have to serve new waiting periods in order to use your cover. You can also say goodbye to getting cash back on extras like glasses/contact lenses and physio.
The money-saving experts who can help.
Health Insurance Comparison reviews hundreds of policies from our panel of trusted insurers in a matter of minutes. We can help you find cover that ticks all your boxes without paying for what you don’t need.
It’s free, quick and easy to get started. Last year we saved people an average of $312 when they compared and switched with us*. Let’s see how much we can save you.
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.
This article is opinion only and should not be taken as medical or financial advice. Check with a financial professional before making any decisions.
*Based on 25,311 policies in 2020.