Health Insurance Comparison

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Retired? Save easily on your health insurance

Retired and trying to cut costs? Find out how our free comparison service can get your premiums down without sacrificing coverage

Are you retired—or nearly retired—and looking to save money? Without a regular income, expenses can seem larger and more intense than they used to.

With that, keeping yourself healthy and well may also seem like a bigger task than before, but nonetheless important. The good news? There are plenty of ways to save on your health cover post-retirement.

Let’s start with reviewing your current cover. Health Insurance Comparison offers a free review of your policy, ensuring that your cover is up-to-date and still offering the best value for your needs.

Many Aussies reaching retirement age are paying for services that they don’t need (and don’t use), and as a result, end up saving an average of $363.38 each year on their cover. Best of all, it only takes two minutes to find a better deal.

Get started 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.

Get started 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.

What health insurance looks like post-retirement

Keeping costs down post-retirement is on the top of every retiree’s mind. This often means cutting the fat from your expenses. Rather than giving up on your health cover altogether, the key for many Aussies is finding a better-value policy that ends up saving them money in the long-term.

Private health insurance is as necessary after retirement as it is at any point in your life. You become more and more susceptible to injury and illness as you get older, and need to make sure you’ll have adequate coverage to prepare for unexpected medical fees.

Without private health insurance, be prepared to receive treatment as a public patient in a public hospital, where you likely won’t have the luxury of choosing your own doctor if you require treatment or surgery.

The waiting lists for elective (but nevertheless necessary) surgery associated with the public system are even more problematic for seniors. Without private health insurance, you often have to wait for ‘non emergency’ surgeries like certain joint replacements, cataracts, and many other procedures.

These surgeries and procedures might be pressing for you, but the system designates them as “elective,” meaning you may have to wait months before receiving treatment, even if you’re in pain or discomfort.

So, perhaps you’ve decided that you want prompt medical attention, and the ability to choose your own surgeon, but are still worried about the cost of this. Through annual comparisons (that only take a few minutes) and government rebates, it is possible to find affordable health cover.

Government rebates

Taking advantage of rebates is an easy step towards saving on health insurance after retirement. The rebates are available for all ages but really start to pick up after you turn 65. Here’s a look at the health insurance rebates you’ll receive by age and income.

There are two ways to claim rebates: as a premium reduction up-front through your insurer, or as a tax offset when you file your taxes.

Anyone who falls below tier three and is of retirement age will be eligible to receive a substantial premium rebate, which can help you save money on your health insurance after you retire.

Reassess your health insurance needs

If you’ve had the same health insurance for years, it might be time to revisit your policy—especially if you’re insured alongside your spouse.

Many health funds offer policies that are specifically designed for seniors. These include the most common procedures and benefits that seniors need, and they can end up saving you lots of money.

If you’ve been on the same policy for years, you may find that you’re paying extra for benefits you don’t need. If you have a comprehensive policy, for instance, you’re likely paying for things like pregnancy and birth-related services. You can often downgrade a policy to remove benefits like these and save on your premium.

Take a look at the policy you have and make cuts where you can. You may be satisfied with a policy under the Silver or Silver Plus tier rather than the all-inclusive Gold tier. If you’re having trouble understanding the new policy tiers, you can chat to one of our health insurance advisers, who will be more than happy to help you identify the right level of cover for you. To speak to an adviser, click here.

Compare and Save

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.

Select Your Life Stage and Compare Now!

Select Your Age and Compare Now!