Are you paying too much for your health cover

Are you paying too much for your health cover?

Even though health insurance costs have spiralled this year, there are still too many consumers over-paying for their cover. This is due to a combination of inertia; fear of switching; and the complexity of trawling through all the various options.

If you haven’t reviewed your cover in the last two years; or if you have all the family insured on the same level of cover; or if you’re paying for certain extras such as a private room, then we believe you’re paying too much for your cover.

To be fair to the health insurers, they are responding to the ‘affordability’ issue in the market by launching new lower-cost plans . In some cases, they will ‘clone’ existing plans and launch them under a new name but at a lower cost. If you do your homework properly in advance of your renewal, you may be able to source equivalent cover at a much lower cost. Whilst switching is always recommended for better value cover, you may actually be able to achieve these cost savings from your current insurer, but on a different plan.