Do you feel like the cost of your health insurance is always going up?* You’re not wrong. Health cover premium increases are an annual event these days. Did you know that premiums are rising by around 2.7%* in 2022, while your health cover remains the same?
In fact, if you’ve not reviewed your cover in the last five years you could be paying around $794^ more per year for no additional value. This is what our experts call ‘the loyalty tax’.
Why review your health cover?
Your health needs change with age, so shouldn’t your health cover?
Despite the rapidly rising cost of health insurance, many Australians put up with policies that no longer suit because comparing policies and switching funds takes time, energy, and focus. These also change as we grow older!
Does your policy cover your current optometry and dental needs? How about hospital visits and specialists? If you’re planning - or already living - an active retirement, does your cover account for this?
As you make changes in your life and lifestyle it makes sense to review your health insurance, ensuring you have the most up to date cover for your needs. An updated policy makes such a difference when you really need it to, and isn’t that what your health insurance is for?
Comparing can be easy:
Contrary to popular belief, shopping around for health insurance can be fairly quick and simple, and you can exit your current fund without incurring any penalties. Compare Club will help you identify the areas where you’re potentially overpaying, and where you could improve your rebates. Their specialists have saved customers an average of $320^^ on annual premiums in the last year alone.
Compare Club experts assist with comparing quotes from multiple health funds, including HCF, AHM, Medibank and Bupa. It’s their job to find you better value health cover - so let them do the hard work. Once they have talked through your health cover options, you can leave the rest to them. If you decide to switch, Compare Club do all the heavy lifting for you.
Giving something back to you:
Compare Club ensure your health cover savings are quick, easy, and effective - and because they know how much you’ve already spent on your health cover, they want to give a little back to you.
That’s why Compare Club will send you a $50 e-Gift Card that can be used at over 300 well-known Australian retailers if you compare and switch your hospital & extras cover through Compare Club before 19th November 2022**.
*Department of Health, List of historical premium price changes by insurer for 2022, accessed 25th January, 2022
^Based on Compare Club internal data: average cost of a 55-64 couple’s policy premium, 2021, with a 3.06% increase applied [average increase across Australia’s five biggest funds].
^^Based on 111,658 policies sold Jan 2017 - Nov 2021.
**Offer of a FREE $50 e-Gift Card available to those who purchase a combined hospital and extras policy with https://compareclub.com.au by 11:59pm AEDT 19/11/2022. This offer cannot be used in conjunction with any other promotional offer provided by https://compareclub.com.au. Friends or family of staff members are not eligible. Click here for full terms and conditions.
**Once you have successfully switched and stayed with your policy for 90 days, you will receive an email with a Prezzee gift card which you will need to visit the following website http://www.prezzee.com.au/about, to swap it for one of 300+ Australian retailer gift cards of your choice, including Coles, Woolworths, Myer and David Jones. Please note that you MUST hold your policy for 90 days in order to qualify for the $100 e-Gift Card.