Why loyal health insurance customers can get left behind
Not comparing health insurance providers? You could lose out... Photo: Getty
Most of us are aware by now of the health insurance industry changes that swept the nation in April 2019.
The new product tiers that were introduced mean that hospital cover is classified into four separate categories: Gold, Silver, Bronze and Basic.
But how many of us have actually reviewed our current cover to check that we’re getting a good deal?
Because whether you’re on a basic one-size-fits-all policy or banking hard on the top of the crop, it never hurts to see just how much you’d potentially save by changing to another insurer, or switching policies with the same insurer.
At HealthInsuranceComparison.com.au, Australians can simply enter their details into the easy comparison tool and get a snapshot of what’s out there today*.
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.
Senior Australians, in particular, are feeling the pinch.
Desperate to know how they can save on the ever-escalating health insurance premiums, many older citizens are looking to switch policies.
The consumer peak body for seniors, National Seniors Australia (NSA), has even asked that reforms withhold from upping health care costs, so that older Australians can manage to keep and pay for their health cover.
Over the past decade, health costs have increased by 56.7 per cent, with inflation increasing by 23.5 per cent.
Meanwhile, health insurance premiums have increased by a whopping 66 per cent in that same period.
An easy way to get around this is to investigate the competitive deals being offered in the wake of these new industry changes.
Many Australians are flocking to Health Insurance Comparison and it’s easy to see why.
By simply switching policies (and still getting the exact same amount of coverage), you could save hundreds of dollars.
The free service takes the time and hassle out of switching – all there is to do is save.
*Compared policies will be selected from Health Insurance Comparison’s panel of Australian health insurers.