Seeing double: Here’s how to double down on your savings this April

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The latest round of rising health insurance prices is here, and this time premiums are set to rise at nearly double the rate of inflation.

The average premium rise appears modest at 2.92%, but certain insurers will hike their prices by as much as (average) 5.63% while others will raise rates by as little as 1.98%*. The key to saving is knowing where the deals are.

In fact, you can actually double down on your savings this April with a little help from our insurance experts. Not only can they help you compare cover, they can help you lock in a pre-rate rise price for a whole year.

With their help, our customers are saving an average of $356.70 on their annual premium**. And the best part is that it just takes minutes to get started(link to form).

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.

When we find ourselves confronted with rising prices, we tend to feel powerless, like we have nothing to do but accept the new normal. But you really don’t have to look far to find savings this year.

3 out of the 5 biggest insurers in Australia will actually raise their rates above the industry average this year***.

With these funds accounting for 80% of all health insurance customers in Australia, consumers can’t count on their membership with a big 5 fund to save them from increasing costs****.

Not only is it wise to shop around and find the best deal, but for those in the know, there’s a way to bypass this year’s rate rise altogether.

Step 1 is finding a provider that offers the cover you want at a lower price. When you’re comparing, you want to see what they’re charging right now, before the rate rise comes into effect on April 1st.

That’s because step 2 is to lock in the pre-rate rise premium price by paying for the following year in advance. Doing this will ensure that you have 12 months of cover at a better price than you’d be able to buy with the same insurer after April 1st.

Taking control of your health insurance like this is far simpler than it sounds. All you need to do is enter a few details about your current cover(link to form), and we’ll walk you through the rest.

Our award-winning specialists make it their business to get your health cover in shape. Not only can they help you find the cover you need at a cheaper price, they’ll also help you maximise the value you get from your cover.

With a focus on finding you cover that makes the most efficient use of your rebates, the Health Insurance Comparison team are experts at getting the most out of every dollar you put into your health insurance.

And now, thanks to recent reforms, switching to better value health cover has never been easier. Firstly there are no lock-in contracts when it comes to health insurance.

Secondly, unless you’re upgrading your cover, you won’t have to resit your waiting periods and you’re entitled to a refund of any premiums you’ve paid in advance.

There’s really nothing in the way of you paying less for health insurance. Get started now(link to form) and see what you could be saving.

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.

See Your Low Rates

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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