Got Health insurance? Your Premiums Went Up Again
- Replies 35
Amid a cost of living crisis, health insurers have seen fit to increase their premiums again. We’ve seen mortgage rates increase, grocery prices spike, petrol prices peak, and now our health insurance premiums have increased by an average of 2.90%*.
You could already be paying up to $167 more per year* for your health insurance, and that’s just for those of you who are NOT with one of the ‘Big Five’ health insurers—think BUPA, Medibank, HCF, nib and HBF.
If you are with one of the ‘Big Five’, you could be paying up to $194 per year* for the same cover you currently have.
What can you do?
There is some good news. Your health insurer* will let you know your policy’s exact increase before the increase takes effect—and if you can afford to prepay a full year’s premium, you can lock in 12 (or in some cases up to 18) months of cover at the current year's prices.
For example, nib allows you to prepay 13 months, and HCF and HBF allow 18 months*. As nib only increases its premium on 1 October, nib members can lock in their current premium until November 2024, potentially saving hundreds*. But we know this isn’t financially feasible for many of our members, so what are the other options?
Luckily, it’s not all doom and gloom. Over the past four years, we know over 44,000 Australians over 50* who have saved an average of $259.50* on their health insurance just by comparing and switching their cover with Compare Club*.
How to save
These Australians managed to save with the help of Compare Club*. Compare Club* helps Aussies find health insurance that is more affordable and better suited to their needs*.
It broke our heart when we were told this, but Aussies over 60 are often left to fend for themselves, unknowingly paying for health cover they will never be able to use. Compare Club* have seen Aussies in their 60s, 70s and even 80s paying for pregnancy and IVF cover, without even knowing it, and this should never be the case.
Compare Club can help* our dear members compare multiple health insurers, cover options and pricing all in one place. Their service can save you time, but the most significant benefit for most is how much money you can save off your yearly premiums*, especially when health insurance premiums aren’t the only thing increasing in cost!
Why Compare Club?*
You get the peace of mind that comes with working with trusted professionals with the years of experience* needed to navigate the complicated health insurance system and keep you from further confusion. For example, many of our members worry about not being with ‘one of the big five’ when there is no such thing as a ‘dodgy’ health fund in Australia, as the industry is heavily governed.
How do we know Compare Club* can be trusted? They’re one of our long-term partners* with whom we have personally compared health insurers! You can read about Maddie’s experience here*.
They also have an ‘Excellent’ rating on TrustPilot with 4.6 stars*. Not a bad shout, eh?
One customer said*: ‘When I contacted Compare Club, I had an idea of what I wanted but not how to do what was needed. Dale, who I dealt with, was more than helpful & he has given me the peace of mind I have been trying to find for so long. I would recommend Compare Club to everyone.’
Another added*: ‘No pushy salesperson and very thorough in the process and making sure I knew what I was getting and that I was happy with my choice.’
The team at Compare Club* will make sure you have the health cover you need while paying a price you’re comfortable with*.
So, if you’re sick of endlessly researching health insurers, are looking to save money or simply find cover better suited to your needs, Compare Club is ready to help*.
It’s worth comparing your health insurance* to see if you can save money. You won’t lose anything by comparing; you only stand to save*! After all, if you don’t like the quote you receive from Compare Club*, you don’t have to do anything.
*Please note, members, that this is a sponsored article. All content of ours that has an asterisk next to it means we may get a commission to write an article or post a deal. We do this to assist with the costs of running the SDC. Thank you!
You could already be paying up to $167 more per year* for your health insurance, and that’s just for those of you who are NOT with one of the ‘Big Five’ health insurers—think BUPA, Medibank, HCF, nib and HBF.
If you are with one of the ‘Big Five’, you could be paying up to $194 per year* for the same cover you currently have.
What can you do?
There is some good news. Your health insurer* will let you know your policy’s exact increase before the increase takes effect—and if you can afford to prepay a full year’s premium, you can lock in 12 (or in some cases up to 18) months of cover at the current year's prices.
For example, nib allows you to prepay 13 months, and HCF and HBF allow 18 months*. As nib only increases its premium on 1 October, nib members can lock in their current premium until November 2024, potentially saving hundreds*. But we know this isn’t financially feasible for many of our members, so what are the other options?
Luckily, it’s not all doom and gloom. Over the past four years, we know over 44,000 Australians over 50* who have saved an average of $259.50* on their health insurance just by comparing and switching their cover with Compare Club*.
How to save
These Australians managed to save with the help of Compare Club*. Compare Club* helps Aussies find health insurance that is more affordable and better suited to their needs*.
It broke our heart when we were told this, but Aussies over 60 are often left to fend for themselves, unknowingly paying for health cover they will never be able to use. Compare Club* have seen Aussies in their 60s, 70s and even 80s paying for pregnancy and IVF cover, without even knowing it, and this should never be the case.
Compare Club can help* our dear members compare multiple health insurers, cover options and pricing all in one place. Their service can save you time, but the most significant benefit for most is how much money you can save off your yearly premiums*, especially when health insurance premiums aren’t the only thing increasing in cost!
Why Compare Club?*
You get the peace of mind that comes with working with trusted professionals with the years of experience* needed to navigate the complicated health insurance system and keep you from further confusion. For example, many of our members worry about not being with ‘one of the big five’ when there is no such thing as a ‘dodgy’ health fund in Australia, as the industry is heavily governed.
How do we know Compare Club* can be trusted? They’re one of our long-term partners* with whom we have personally compared health insurers! You can read about Maddie’s experience here*.
They also have an ‘Excellent’ rating on TrustPilot with 4.6 stars*. Not a bad shout, eh?
One customer said*: ‘When I contacted Compare Club, I had an idea of what I wanted but not how to do what was needed. Dale, who I dealt with, was more than helpful & he has given me the peace of mind I have been trying to find for so long. I would recommend Compare Club to everyone.’
Another added*: ‘No pushy salesperson and very thorough in the process and making sure I knew what I was getting and that I was happy with my choice.’
The team at Compare Club* will make sure you have the health cover you need while paying a price you’re comfortable with*.
So, if you’re sick of endlessly researching health insurers, are looking to save money or simply find cover better suited to your needs, Compare Club is ready to help*.
It’s worth comparing your health insurance* to see if you can save money. You won’t lose anything by comparing; you only stand to save*! After all, if you don’t like the quote you receive from Compare Club*, you don’t have to do anything.
*Please note, members, that this is a sponsored article. All content of ours that has an asterisk next to it means we may get a commission to write an article or post a deal. We do this to assist with the costs of running the SDC. Thank you!
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