Your health cover is about to reset. Here’s what you can do to maximise it before time runs out

If you have private health insurance, then you should know that time is running out. Most health insurance holders only have until the end of the year to use their cover before their Extras claiming limits reset.

By January 1, most members will lose the ability to maximise the potential of their Extras health cover, with many insurers resetting their limits after December 31.

It’s important to act now to avoid losing the benefit entitlement for treatments that do not roll over to the new year.

Here’s How You Do It

Step 1: Go to HealthInsuranceComparison.com.au

Step 2: After answering a few questions, you will have the opportunity to compare cover, and could be eligible for significant savings.

To better assess the remaining areas within which you can claim, you should check your personal claiming history in your insurer’s online member services.

This allows you to view what you claimed during 2018 in real time, and lets you optimise anything that may still be available for you to claim before the year ends.

Considering the cost of health insurance, all members deserve to get the most back from their cover.

In the last reporting period, Aussies got back more than $20.5 billion in benefits collectively on their health insurance claims in 2017-18. Australians, on average, claimed $422 by September, with 13.5 million people across the country holding extras cover.

Private Healthcare Australia chief executive Rachel David said the Australian Prudential Regulatory Authority (APRA) report “dispels the myth that health funds are hiding a pot of gold. Health funds, whether run as a for-profit or a not-for-profit, must operate as successful businesses to be able to keep premiums affordable for their members and to ensure members’ care can be funded if and when it is needed”.

Among the most popular things to be claimed, dental and optical are two of the highest. On average, $223 was paid out to members from their dental visits alone, followed by $73 for optical, $35 for physiotherapy, and $24 for chiropractic.

Our tips to help you get the best from your extras claims in 2018:

1. Double check your claims history across the past 12 months by visiting your fund online or giving them a call.
2. If you do have value left, use it to the best of your ability for any necessary claims before the end of the year.
3. Assess the included lifestyle benefits from your private health fund. This includes swimming lessons, gym memberships and sunscreen.
4. Follow our helpful guide on how to make a health insurance claim here.

With extras resetting, it makes sense to stay on top of your health insurance in 2019. With Health Insurance Comparison, you can compare your cover in minutes.

We believe in staying informed, and recommend keeping on top of any private health insurance variations in 2019.

So compare health insurance today and discover what you could be saving.