Does your health premium seem too high? Here’s why.
Government penalties are driving up the cost of health cover for many Aussies.
Australians are fleeing health insurance in droves, thanks to rising premiums and costly government penalties. For the first time in 17 years, the proportion of the population who have health insurance is starting to fall, which could have disastrous effects.
Fortunately consumers can circumvent both government fees and high premiums by shopping around with HealthInsuranceComparison.com.au. It’s an online comparison service that makes it easy to see which fund offers you the best value for money.
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.
Although the cost of health insurance is going up, the benefits of having cover remain. With private health cover you enjoy greater flexibility and choice over your health care. On top of that, locking in adequate cover by the age of 31 can help you avoid government loading charges on your premiums as you get older.
A News Corp analysis found that these penalties can more than double the cost of your health cover. Tens of thousands of Aussies are no longer eligible for the full private health insurance tax rebate, which translates to paying roughly $1000 extra each year for cover.
In addition, taking out health cover later in life could result in a Lifetime Health Cover (LHC) loading penalty of approximately $2000. All up, government regulations could mean an additional cost of $3000 each year for your health cover.*
These hefty charges on top of already-high premiums have many Aussies wondering if they should drop their health insurance altogether.
Of course, opting out of health cover can save money in the short term, but in the long run not having coverage could be very costly, both to your finances and your health. Before giving up on coverage out of frustration at high prices, compare policies with HealthInsuranceComparison.com.au.
You’ll have access to affordable policies and friendly customer service, eliminating the confusion that can come with choosing a new policy. If you’re switching from an existing policy, your consultant can help you with the paperwork, saving you time as well as money.
If you take action before the end of the financial year, there could be additional tax benefits and money-saving opportunity. What’s more, you won’t have to worry about re-sitting any waiting periods when you switch. Portability laws protect consumers who switch to a hospital policy with equal or lesser cover.
Compare health cover today to enjoy the peace of mind that comes with having private health insurance, without the stress of paying too much.
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.