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Did you know your health insurance premiums are on the rise again? Here’s what to do

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Do you think you’re overpaying for your health insurance? If you haven’t changed your cover in five years, it’s highly likely you are.

If you haven’t changed your cover since 2018, your premiums have gone up by an average of 15.56 per cent*.

Our internal data shows that this means that happy couples have been paying an average of $794^ more for the same policy. And that’s just based on averages.

Not happy? We don’t blame you.  Here’s what you can do.

Health insurance premium increases: get the facts

Some of Australia’s biggest health funds are holding off on raising their rates until later on in the year, but the combined average increase of Australia’s five biggest health funds is more than the industry average of 2.70 per cent*.

Over the last 5 years, we’ve saved our customers an average of $320** off their annual health insurance cost when they switched policies through us.

So, the big question is: are you paying too much for your health insurance?

If you’re worried about your premiums continually rising it could pay to compare policies and switch to better value cover.

Can I really pay less for the comparable cover?

Yes. Our experts at Health Insurance Comparison can help you find a better deal from our panel of trusted insurers.

Not only could we save you money, but we also take care of the process

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.

This article is opinion only and should not be taken as medical or financial advice. Check with a financial professional before making any decisions. We do not compare all products in the market. The availability of products compared may change from time to time. Not all products available from our partners are compared and not all products are available to all customers.

References:* List of historical premium price changes by insurer – 1997 to 2022, ^Based on 111,658 policies sold Jan 2017 – Nov 2021^^2.70 per cent premium increase applied to the average premium of policies purchased through Health Insurance Comparison by couples aged 65+ years in 2021.^^^5 years of average premium increases applied to the average premium of policies purchased through Health Insurance Comparison by couples in 2018.

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