What price loyalty? Aussies who’ve stuck with the same health fund see premiums continue to rise

Older Australians are often extremely loyal to their health funds with some staying with the same fund for over 20 years. But unfortunately this loyalty is rarely rewarded by anything other than annual fee increases.

In the past 12 months alone, premiums have risen by an average of 5.66%**. So even if you’ve only been with your fund for just a few years, there’s a good chance you’re being hit with a “loyalty tax” just because you’ve not looked for a better deal.

That’s why older Aussies are fighting back by switching to cheaper policies using this site. Last year, the average saving through Health Insurance Comparison was $312*.

High premiums for below par policies

Australia’s still recovering from the effects of the global pandemic and people’s finances are being stretched further, but that doesn’t seem to matter for a number of health funds.

Last year insurers pushed their annual premium increase back from April to October but this hasn’t happened in 2021, meaning that most health insurers have put their premiums up twice in the last year. 

Despite these rising costs, many Australians still remain loyal to their funds, even if they’re not getting value from their insurer.

It’s incredibly common to find over 50s paying top dollar for pregnancy or IVF cover when even their own health fund may have a more appropriate policy.

Loyalty doesn’t pay but comparing does

Health Insurance Compare doesn’t charge any hidden fees or mark up costs – all of the policies come directly from the insurance providers themselves. The difference is you can compare funds and policies side-by-side.

We handle all the paperwork for you, so there’s no need to sit on hold to talk to your old fund. You may not even need to worry about new waiting periods either – you won’t have to wait if you move to a cheaper fund with equivalent cover.

It’s never been easier to cut the health fund loyalty tax out of your life. In just a few minutes you could see if there’s a policy that makes you and your bank balance happier.

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?

Australia: We saved our average customer **$320*on their average annual premium!

Compare quotes now

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*Average savings based off over 110,000 customers between 2018-2021