Saving on health insurance is more than just finding the cheapest policy.

Sure, you might be paying low premiums, but that doesn't count for much if you're always getting hit with out-of-pocket expenses.

Think this might apply to you? It can pay to compare and switch with Compare Club.

Paying too much?

Australia: We saved our average customer $300* on their average annual premium! Select your age below and see how much you could save!

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8 common signs you're not getting the best deal

If you think there's a chance your current health insurance isn't giving you the value you deserve, here are the common warning signs:

1. You're always hit by gap fees

Despite paying top dollar for the cover you know you need, you still end up paying out-of-pocket expenses.

2. You're paying for unnecessary extras

You're paying for extras cover but never use it. For example, if you've got optical cover but don't need glasses, that's an expense you don't need as eye check-ups are covered under Medicare.

3. You're still paying for your kids

Your children may have grown up and left home but your health insurance hasn't matured with them. If you're still paying for a family policy when your kids have long since moved out, there's savings to be had.

4. You're always using up your extras

This is when your extras annual limits are too low to make any difference -- you always end up using them up in the first few months. This means your additional healthcare needs for the rest of the year come out of your own pocket. Ouch.

5. Your favoured health specialists aren't covered

None of your nearby or favoured healthcare providers have an agreement with your current provider. That means you either have to travel out of town or pay out-of-pocket expenses.

6. You don't need the items on your hospital cover

You're paying for a hospital cover policy that covers things you don't need. Let's face it, a 50-something in good physical condition with Gold Hospital Cover won't need pregnancy or weight-loss surgery.

7. You keep running into restrictions

The key services you actually need are restricted on your current level of hospital cover. For example, you've had a bad back for years but can't get any of the associated treatment costs covered because you're on Bronze Cover.

8. You've not switched cover recently

It's been more than two years since you last compared or switched health insurance. The savings you make by switching to a more appropriate policy could negate the annual premium price hike.

Premiums are always on the rise

Just because you've locked in a good deal at the start of your health insurance policy, that doesn't mean the price will stay the same forever.

In fact, if you don't keep an eye on your premiums then you could end up paying a lot more than you expect.

Health insurance premiums rise every year and in 2023, one fund is even bumping up their premiums by an average of 5.38%.

Even if you think you're getting value for money from your health fund, you could still save by comparing policies to find a cheaper policy with the same level of cover.

Over the last 5 years, we've saved our customers an average of $300^ off their annual health insurance cost when they switched policies through us.

Choose your life stage.

I’m looking at health cover for…

Just meMe and my partnerMy familyMe and my kid(s)

Choose your life stage.

I’m looking at health cover for…

Just meMe and my partnerMy familyMe and my kid(s)

Sources

^Based on 136,746 policies sold Jan 2018 - Dec 2022.