The true cost of loyalty to your health insurer: an average increase of 5.66% on your premiums

Does loyalty to your health insurer really pay off? Many Australians are paying too much for their health insurance simply because they haven’t shopped around recently and haven’t challenged their insurer’s regular rate rises.

Since October 2020, most health insurers have raised their premiums by an average of 5.66%. And if your loyalty isn’t being rewarded, it’s time to be smart and consider switching your cover.

*Average savings based off 25,311 customers during 2020

Health Insurance Comparison’s specialists are experts in making sure you’re saving cash and getting value for money. 

Last year, we saved money-conscious Aussies an average of $312 when they compared and switched health insurance through us*.

Why has my health cover gone up again?

In 2020, most funds pushed their annual health insurance rate rise back from April to October due to the pandemic. That gave Australians a little relief, but the insurance industry kept 2021’s increase in place.

That meant that on 1 April 2021, most households would have seen their health premiums rise.

But can insurers really put their prices up when so many Australians need to make every cent count? Unfortunately, yes. 

The government hasn’t stopped 2021’s rate rise and despite press releases trumpeting the lowest increase in 20 years, the reality is that health premiums will have risen by an average of 5.66% in the past 12 months.

That’s just the average. Many funds increased premiums by more than that amount. It’s why fed-up Aussies are using services like Health Insurance Comparison to cut the cost of their cover.

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.

Choose your life stage.

I’m looking at health cover for…

Can I really save money by reviewing my cover?

Quite simply, yes. Last year, the team at Health Insurance Comparison saved customers an average of $312* when they compared and switched cover with us.

Not only that, our Melbourne-based specialists are experts in making sure you’re saving cash and getting value for money: they’ll look for higher benefits on the services you do use and help you avoid paying for services that you won’t need.

Best of all, you shouldn’t need to wait to make a claim. If you switch to cheaper equivalent hospital cover with any of the trusted health insurers on our panel, you won’t have to worry about being burdened with new waiting periods.

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.

Which area are you in?

*Average savings based off 25,311 customers during 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.

*Based on 25,311 policies 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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