Outsmart The Health Insurance Price Rise
Ben Thomas,
Customer Experience Manager
Health Insurance Expert, who’d sign up for that job title? Ben Thomas did in 2008 and hasn’t looked back.

Why do some health insurers create so much fear around the price rise? Learn what’s behind their claims and how to find the right cover for you.


Outsmarting the health insurance price rise, 3 simple questions

Health Insurance has been on a lot of peoples minds lately due to the February and March announcements of premium increases, which impacts ALL of us. As with any household expense, it’s important to check that you’re getting the best health insurance for you and your family’s needs.

Unfortunately, some health insurers and comparison services would like to make us believe the following:

  • health insurance is complex and confusing
  • the premium increases are based purely on profit
  • most funds are essentially the same
  • you probably hate the one you’re with

Sound familiar? This advertising spin is designed to create fear and insecurity, while positioning themselves as saviours. As consumers, it’s a matter of knowing the right questions to ask and who to ask to outsmart these “category bashers”.

1. So let’s start with perhaps the most important question: Who can I trust to give me the right advice to find the best health fund?

The answer is understanding what motivates different health insurers. The big, familiar brands are for-profit and motivated by generating a profit for their overseas owners or investors.

This is why Members Own Health Funds group of not-for-profit and mutual funds is a highly reliable source of information. Their number one priority is looking after each member and they all share the same good values.

While many health insurance companies like to claim they have your best interests at heart, it’s always a good idea to understand what drives their statements. Then you can get the best value and cover for your situation.

2. Which leads perfectly into the second question: Am I better off with a Members Own Health Fund in terms of value for money, without compromising on the level of care or service?

Value can mean different things to different people. So here are two key statistics to help. In the table below you can see that over the last five years, Members Own outperforms the rest in terms of the percentage of premiums that go back to members in benefits.

They also have on average more private hospital agreements in place, which means your level of cover is in safe hands with a Members Own health fund.

3. The third question which we get asked all the time is: Do your stats provide real benefits to customers or is it just more advertising spin?

We asked real customers to see what they had to say about this.

MOHF TVC Extensions – Sam from Members Own Health Funds on Vimeo.

“The representative gave me cover higher than what I actually wanted and at a better price…it just builds confidence.” – Sam

MOHF TVC Extensions – Jenn from Members Own Health Funds on Vimeo.

“I was with BUPA and paying too much…I didn’t realise there were not-for-profits out there…knowing that there’s other companies out there that have their customers interests at heart and that you can get a better deal.” – Jenn

So if your health insurance has gone up again, or you just feel like now is the right time to review your cover and get better value, you can feel confident you’ll be better off with a Members Own fund.

Why not start with our online comparison service? It makes it really easy for you to compare your current cover with one of the Members Own health funds.