2024 Health Insurance Rate Rise: How Much More Can Aussies Take?
Health insurance premiums will be increasing by a staggering average of 3.03% in 2024. But that’s not the whole truth.
The news is finally out after being heavily delayed. Health insurance premiums will increase by an average of 3.03%* on April 1 this year.
Although they are saying this year’s increase is ‘only slightly higher’ than last year’s 2.90%* increase, it’s another hit to Aussies pockets after years of crippling inflation, outrageous mortgage increases, and many Australians barely being able to put food on the table.
Not to mention, 3.03%* is just the average increase. There are insurers out there who are increasing their premiums by well over 4%*, with one insurer increasing theirs by 5.82%*. These numbers are well above Australia’s annual rise in wages, social security payments and inflation.
If you are over the age of 60 and are already struggling with the cost of living, you don’t have to sit back and pay more for your health insurance on April 1. Instead, compare your health insurance and see just how much you can save.
Here’s How You Do It:
Step 1: Select your current life stage below.
Step 2: Once you select your preferred coverage options, you will have the opportunity to compare quotes from multiple health funds.
Over the past 4 years we know 44,197 Australians over the age of 50 who have managed to save an average of $259.50 on their health insurance, just by comparing and switching their cover^. That’s right! 44,197 Australian’s over the age of 50 have managed to save $259.50^ with our friends over at Compare Club.
How? Compare Club is helping Aussies find health insurance that is not only more affordable, but better suited to their needs. Aussies over the age of 60 are often left to fend for themselves unknowingly paying for cover they will never be able to use. We’ve 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.
That’s one of the main reasons we’ve partnered with Compare Club. They can help older Aussies compare multiple health insurers, cover options and pricing all in one place. Their service can save you time, but the biggest 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!
Get Started Now:
Step 1: Select your state below.
Step 2: After answering a few questions, you will have the opportunity to compare quotes in your area and could be eligible for significant savings.
When you work with our teams, you get the peace of mind that comes with working with trusted-professionals who have the years of experience needed to navigate the complicated health insurance system and keep you from any further confusion. For example, a lot of older Aussies worry about not being with ‘one of the big five’, when the reality is, there is no such thing as a ‘dodgy’ health fund in Australia, as the industry is heavily governed.
Our teams will make sure you have the health cover you need, while paying a price you’re comfortable with. We know there is more affordable health insurance on the market and our mission is to help as many Australians as possible get health insurance that is not only more affordable, but is better suited to their needs.
*3.03% is the official average annual premium increase across all Australian health insurers as announced by the Australian Government. You can see the increase for every health insurer in Australia here.
^Based on 44,197 Compare Club customers over the age of 50 who have compared and switched their health insurance over the past 4 years.