With the Federal government signing off on private health insurance price rises for 2014, CHOICE is calling on Australians to health-check their insurance and make sure they have the cover need at a competitive price.
The latest average price rise of 6.20% for 2014 comes on the back of the 5.6% rise in May this year.
“While health insurance price rises are regulated, these increases of up to 8% for some funds are running well ahead of CPI and will put pressure on family budgets,” says CHOICE spokesperson Tom Godfrey.
“With price rises varying from 3.25% to 8%, it is worth comparing policies to ensure you are getting the cover you need at a competitive price. You should also review your extras cover, check for a discount for paying annually and see if you qualify for a restricted membership fund.”