Raw deal on gap fees

Did you know that out-of-pocket expenses for hospital treatments have risen by a whopping 5.1 per cent over the past 12 months?* That means even if you have health insurance, you’re paying, on average, more than $319 in gap fees across all hospital treatments.

Even worse, it’s older Australians who are more likely to use hospital services who are being hit hardest by these rising costs. It’s time to take matters into your own hands by finding hospital cover that minimises gap fees. Start today with Health Insurance Comparison.

Industry regulator APRA’s latest statistics on private health insurance are bad news for older Australians. Some common hospital treatments – such ear, nose and throat, and urology – have a whopping average gap charge of 27 per cent.

That’s a significant out-of-pocket cost for hospital treatments on top of what you’re already paying for your health insurance.

It’s not surprising that older Aussies are left wondering why they have to pay for gap-prone health insurance as well as fork out for treatment for which they should have been covered.

But you can take action. Many health insurers offer ‘no gap’ schemes that eliminate out-of-pocket hospital expenses. The first step to finding cover that doesn’t leave you with a big medical bill is to compare policies.

Make the switch today
Health Insurance Comparison specialises in finding and comparing hospital cover policies for older Australians. We hunt down affordable cover from our panel of insurers so you can reduce your risk of being hit by gap fees.

Customers who compared and switched with us in 2019 saved an average of $380.79 on their health insurance. That’s money back in your pocket.

Don’t wait for the inevitable further increase in gap fees. Do what you can to avoid being hit with out-of-pocket expenses when you need hospital treatment. Take action today and compare policies now.

Compare today with Health Insurance Comparison.

Disclaimer: This article is opinion only and should not be taken as medical or financial advice. Check with a financial professional before making any decisions.

*APRA Quarterly Private Health Statistics, 17 November 2020.

** Based on 20,400 customers in 2019.

Written by Partner Content

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