Time Is Money When It Comes To Staying With The Wrong Health Fund
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.

When was the last time you checked your health insurance policy? Here’s some essential tips on reviewing and switching health funds.


It’s not me, it’s you – have you been with your health fund too long?

Nobody wants to be committed to something that no longer delivers benefits, even if it once felt right. When it comes to private health insurance, it seems Australian men and women are pretty good at staying with their provider for years just for the sake of it. It might not be the makings of a memorable rom-com, but it could be time for an honest chat with your current health insurer.

Recent studies have confirmed that not only is the average length of policy over 10 years, but many people are unaware of what they even get with the current health fund.

Not to worry. If you’re going through the process of reviewing your health insurance and seeing what’s out there, we can help ensure that if you do switch, you won’t be wasting money.

Firstly, what’s important to you right now?

Things in your life may have changed since you last updated your health insurance. Maybe you’ve gotten married, started a family or are dealing with some health concerns. What level of hospital and / or extras cover will give you peace-of-mind and protection for when you need to use it?

You’ll want to look at the number of private hospital agreements your current cover has and also what the approved list of health providers are – if these don’t meet your expectations and you’re left heavily out-of-pocket, then chances are you might be holding onto a ‘junk’ policy.

Did you know there are not-for-profit health funds in Australia?

This can be a deal breaker for many people who discover where their premiums go with their current insurer. Maybe it’s been 5 or 10 years since you last reviewed your policy – in that time a lot has changed, including the launch of Members Own in 2014.

As a not-for-profit and mutual group of funds, we’re here to serve all Australians, not investors or overseas shareholders like the big for-profit insurers. The old style of private healthcare is changing.

Like Jenn, you might even be surprised that there are not-for-profit funds out there and the ways you are better off with a Members Own health fund.

Jenn talks about her experience with Members Own Health Funds on Vimeo.

To stay or switch your private health insurance?

When it comes to health insurance, time is really money.  The best way to ensure you’re getting the best combination of price and benefits is to compare policies and make a change to a Members Own not-for-profit health fund.

To save valuable time, you can use our online comparison service to do most of the work for you. Or give us a call on 1300 34 34 36, and we’ll find the best health cover for you from our panel of not-for-profit and mutual health funds.