Here’s how you can beat the double health insurance premium hike

Australians are about to experience a double whammy of health insurance premium increases. Prices already went up on 1 October 2020. Now they’re due to go up again in the first half of 2021.

But it’s not too late to cut your premiums and retain your cover. Switching ahead of April’s planned rate rise means you can still beat health insurers at their own game.

How Much More Am I Paying On My Health Insurance?

This April’s average price hike across the health funds will be 2.74%. But that doesn’t tell the whole story. Combined with the rate rise from October 2020, people who haven’t switched funds could be paying, on average, a whopping 5.66% more*.

So if you’re worried about your premiums going up again it could pay to compare policies and switch to better value cover.

Want to know how much your current fund is increasing their prices by in 2021? Check out our health insurance rate rise calculator to find out. Go on, we’ll wait.

Not pleased with your result? We don’t blame you.

Can I really pay less for the same cover?

Yes. Our experts at Health Insurance Comparison can help you find a better deal from our panel of trusted insurers. We take care of the process from start to finish, including all the paperwork.

In fact, we saved our customers an average of $312^ when they switched to a new insurer in 2020. That helps take the sting out of any annual health insurance premium increases.

Don’t let your health fund hit you with another price hike. It’s time to beat them at their own game and compare with Health Insurance Comparison to find a better deal on your health cover.

*Department of Health, Historical Premium Increases 1997 – 2020.

**Your Life Choices, Have you received a health insurance rate rise notice, September 2020.

^Based on 20,400 customers.

Written by YourLifeChoices Writers

YourLifeChoices' team of writers specialise in content that helps Australian over-50s make better decisions about wealth, health, travel and life. It's all in the name. For 22 years, we've been helping older Australians live their best lives.

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