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'Maze of information' when switching health insurance funds

5 July 2011 - 3:34pm

Private health insurance policyholders who are thinking about switching their cover are faced with a "maze of information and uncertainty" when it comes to making a change.

Writing for FlagPost - a blog providing research and information from the Commonwealth Parliamentary Library - Amanda Biggs asserted that some Australians are deterred from switching policies because of the time and effort it takes to make checks with their current and new insurers.

While services such as the government's health fund comparison website can be useful, she pointed out that complete assessments of insurance policies are not always available online.

But with the Private Health Insurance Ombudsman and many brokers advising Australians to review their cover at least once a year, people should ensure they take action to ensure their level of cover remains suitable for their needs.

Speaking to a broker could be a useful strategy - particularly if you are unsatisfied with your current fund or unsure of what other policies are available.

Brokers are aware that your healthcare needs can change over time due to progressive conditions or age - and they can help you switch between funds with relative ease.

Moreover, switching private health insurance funds could help Australian families make a significant saving - sometimes by hundreds of dollars each year.