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Annual review of private health insurance 'essential'

29 June 2011 - 4:02pm

Anyone with private health insurance would do well to consider reviewing their policy annually to ensure they are getting the most out of their cover.

Speaking to the Sydney Morning Herald, private health insurance ombudsman Samantha Gavel asserted that it is essential to be "proactive" when it comes to medical cover.

"It's important people are proactive and look at their own insurance … because health insurance can be out-of-sight, out-of-mind until people get sick," she remarked.

The end of the tax year is a popular time for people to consider switching funds and regulations are in place to ensure individuals who choose to change their cover are not adversely affected.

Gavel pointed out that people who make the switch across the same level of cover will not have to face waiting periods.

"If you go from basic to something that's more comprehensive, you'll need to serve waiting periods for the services that are more comprehensive," she explained.

With so many corporate health insurance packages to choose from, it may be wise to speak to a broker about all your options if you are considering a switch.

Brokers have access to thousands of cover options and can help you determine which policy best suits your needs.