Busting some health insurance myths

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Busting some health insurance myths!

Are you considering getting health insurance or switching funds? But worried you’ll make the wrong choice? You’re not alone. And there are some confusing myths out there which can make it even more daunting. So whether it’s choosing a fund, switching or simply changing your mind – we get to the bottom of those myths, so you can make the decision that’s right for you.

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Myth: All health insurance comparison sites compare all health funds.

A: False. Most commercial comparison sites only compare products from ‘participating’ insurers (who pay a commission on each sale). You won’t find us on these commercial comparison sites. As a not-for-profit fund, we do everything we can to keep costs down for our members.

So how can you compare? It’s easy – to make sure you’re getting info on all funds, visit the government's comparison site privatehealth.gov.au. Or use our free comparison service – you can quickly and easily compare any cover you have (or one you’re considering) with our closest equivalent cover.

Myth: Cheaper health insurance always means a better deal.

A: False. It’s important to check exactly what you’re covered for. A lower-cost cover may mean you’re not covered for the things that are important to you. It’s important to consider more than just price when finding the cover that’s right for you. Our free comparison service can help with that – so you’ll know exactly what you’re covered for.

Myth: Switching health funds means re-serving waiting periods.

A: That depends. If you’ve already served your waiting periods and switch to an equivalent or lower level of cover, you don’t have to re-serve any waiting for the same benefits. But waiting periods will still apply if you move to a higher level of cover. You can find out more about waiting periods in our product info.

Myth: I’ve signed up for health insurance, now I’m locked in.

A: False. You can change your mind within the 30-day cooling off period and cancel your cover at no cost (if no claims have been made). And remember there’s no lock in contract so you can cancel or change your membership at any time to suit your needs.