Get ready for another health insurance premium price hike. Health insurers put up prices by an average of 2.92% in October 2020* and this April premiums will rise again.
It’s a blow for health-conscious Aussies who want to keep their finances under control in 2021, but by comparing and switching to a cheaper policy, you could save big without cutting your cover.
How much does loyalty to your health insurer cost you?
If you’ve not switched health cover recently, there’s a good chance you’re paying too much.
For example, last year families who compared and switched with us saved, on average $603.03**.
In contrast, according to our data, a family who has held the same policy for the past five years would now be paying an extra $950.19^, on average, with little extra to show for it.
Not sure how much your premium could go up by this use. Use our calculator to work out your insurer’s average premium increase:
Take action to get a better deal
It’s easy to overpay for health cover but you can play the insurers at their own game. Take a few minutes to click and compare and see how much you could save.
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.
*Department of Health, Average annual premium price change by insurer, December 2020
** Based on 3,549 policies in 2019.
^ Based on the average family paying $4,268.90 when they compared and switched with us in 2016. $950.19 figure based on this average family policy being subject to the exact average annual rate rise amount from 2016 up to and including October 2020.
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