Loyalty Tax: Why Sticking With Your Health Fund is Costing You Hundreds a Year
Feeling like you're paying too much for your cover? If your premiums keep rising every year without any extra value in return, there's a good chance you are.
Major insurers like Bupa, Medibank, and NIB rarely notify members when cheaper, better-value policies become available. But this new website is finally helping Aussies take control.
Could you be paying less for your health insurance? Check your potential savings now:
Step 1: Select your current health fund below.
Step 2: Once you answer a few basic questions, you will have the opportunity to compare quotes from multiple health funds*
Why Medibank, NIB, BUPA and other funds don't want you finding out about this service.
The reason is simple: they don't want you comparing and finding a better deal elsewhere. Comparing and switching costs them plenty β but for you, not doing it could cost even more.
Many Aussies stay loyal to their fund for years, but that loyalty has a price tag. You could be getting the same cover β or better β for less, somewhere else.
The truth is, most people have no idea whether they're getting good value until they actually compare. A quick check can show you exactly where you're overpaying β and how much you could save by switching.
Every month without comparing you're overpaying. Find out how much you could save:
Step 1: Select your current life stage below.
Step 2: Once you answer a few basic questions, you will have the opportunity to compare quotes from multiple health funds*.
Just me
Me and
My partner
My family
Me and
My kid(s)
By now it's clear: staying with the same fund out of habit is costing you. Prices go up every year, but the value doesn't always follow β and most Australians never actually check.
Comparing your cover takes minutes. Skipping it could be costing you hundreds a year. The only way to know if you're overpaying is to actually look.
Get Stated, itβs free and only takes 60 seconds:
Step 1: Select your current health fund below.
Step 2: Once you answer a few basic questions, you will have the opportunity to compare quotes from multiple health funds*
Sources: Australian Taxation Office (ATO), Services Australia. Rebate percentages and eligibility criteria are subject to change and depend on individual circumstances.
We refer you to licensed brokers who compare selected products, not all products in the market.
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