Comparing Health Insurance

Comparing your Health Insurance more important than ever. The rising cost of living is placing Australian households under real pressure. Private Health Insurance recently had it's largest increase in the last 10 years, so the opportunity exists now to evaluate how we can get more value from our monthly outgoings.

If insurance has always been set-and-forget for you, then the thought of this task is probably not exciting you much. But that's not to worry - speaking to an expert like itsmyhealth can take away the stress and can get you on the right path sooner.

Here's some useful information to help get you started:

It's a simple process in a heavily regulated environment designed to protect you

The government has set out rules and obligations for health funds when it comes to transferring. This is make it easy for you to have the right cover to access the right care when you need it. We help you find the cover that meets your needs and budget, and work with your current and new health fund to ensure a seamless transfer. Most of it happens in the background and there's not much you need to do.

You don't have to re-serve waiting periods

If you've already served waiting periods under your previous policy, your new health fund will acknowledge this and cover you straight away. You'll only need to serve a waiting period on your new policy for services that are upgrades. That means you can switch with confidence, knowing you won't be disadvantaged.

There are more options than you think

More than 80% of Australians are covered by private health insurance policies from one of the five major health funds (Medibank, Bupa, HCF, nib and HCF).

There are more than 30 health funds, with many designed to benefit members from specific industries or regional locations.

Speaking to an expert at itsmyhealth can literally save you hours of research. We have access to the largest panel of health funds of any broker in Australia.

You're not locked in

If you change your mind, or if your circumstances shift, you're not locked into a contract period. Even if you've paid an annual premium in advance, you can switch today and those advanced premiums will be refunded.

Health insurance is constantly changing

Whether it's new or changing products, customer incentives or new regulations - health insurance is a dynamic landscape. Comparing your insurance is something you should at least once per year.

Where do I get started?

Comparing is easy. Here's what you should do:

1. Think about your needs: What's important to you to be covered for and what are you willing to spend? Consider your health, upcoming appointments or procedures, and how you manage your health during the year (including providers and costs). Do you have any service expectations from your fund, like digital claims, mobile apps, local branches?

2. Speak to the team at itsmyhealth. We'll explore the market and find the right product for you that meets your needs.

3. Switch: Once you've found your product, we'll handle the rest! It's that easy.