There are over 20 health insurance companies in Australia providing private health insurance policies and coverage (at the time of writing), all of which are registered under the Private Health Insurance Act 2007.
While health insurance is one of those things many of us would prefer not to worry about, the good news is that it’s relatively easy to compare health insurance in Australia and save money – either by tailoring your policy, or simply by looking for lower-cost options.
When you start your health insurance comparison, here are a few simple questions to have in mind.
None of us likes to think about getting sick, and we certainly don’t plan to get sick or have accidents. But the chances are these things will happen to most of us in our lives, and the number one reason to get health insurance is to cope with the often-enormous costs that health treatments now involve.
People obtain health insurance quotes for a number of reasons – not least when they move through different stages of their life, such as when they get married. But one of the big reasons people start looking at health insurance is the additional costs or penalties that are imposed through the tax system.
^Words such as "top", "best", "cheapest" or "lowest" are not a recommendation or rating of products. This page compares a range of products from selected providers and not all products or providers are included in the comparison. There is no such thing as a 'one- size-fits-all' financial product. The best loan, credit card, superannuation account or bank account for you might not be the best choice for someone else. Before selecting any financial product you should read the fine print carefully, including the product disclosure statement, fact sheet or terms and conditions document and obtain professional financial advice on whether a product is right for you and your finances.