From April 1 2020, health insurance premiums will rise on average by 2.92%—nearly double the rate of inflation*, with some funds set to have average increases as high as 5.6%.
This means families will cough up an extra $1.99 per week, while singles will see an increase of 68 cents (on average).** This might not sound like a lot, but it adds up to over $100 for families per year. And we can’t help but ask: why are those who are actively preparing for their future paying disproportionately more for cover?
Award-winning comparison service, Health Insurance Comparison, knows that fair premiums start with smart shopping. Let their friendly advisers do the heavy lifting for you—they’ll find great value quotes for your needs from a panel of leading health funds.
Get fairer premiums, now:
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.
Health Minister Greg Hunt said it himself.
“…I encourage consumers to shop around to get the best deal for themselves and their families.”
Every dollar matters, and staying stagnant is often more damaging for your wallet than making a move.
You might be wondering how switching policies works or whether it’s worth your time. Maybe you’re worried about re-serving waiting periods and leaving your family in the dark, without health cover, at a crucial time.
We get it.
- Switching health funds is free with Health Insurance Comparison and takes only a few minutes
- Your adviser will deal with the policy transfer process from start to finish and help with paperwork
- If you have any questions about your policy, Health Insurance Comparison’s qualified advisers are available to help
“Work has already commenced on the next wave of improvements for private healthcare to continue to improve the affordability and value for consumers,” says Mr Hunt.
But when will we actually see premiums improve?
Get Started Now:
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 **$356.70* on their average annual premium!
*Average savings based off 15178 customers during FY18/19.
This article is opinion only and should not be taken as medical or financial advice. Check with a financial professional before making any decisions.