Rate Rise Encourages Aussies to Re-evaluate Health Insurance Policies

    SYDNEY, AUSTRALIA, April 30, 2009 /24-7PressRelease/ -- This month's price rise of 6.02% for Australian private health insurance is seeing accelerating numbers of people re-examining their health insurance coverage, according to David Miller, a principal of moneytime and an experienced commentator on Australia's private health insurance industry.

The Australian Federal Government recently agreed to the price rise after negotiations with the private health insurance industry. The new rate rise means an extra $3 a week for average Australian families, bringing more challenges to people already battling the financial gloom.

Mr. Miller said the increase would undoubtedly focus attention on the value offered to individuals and families by private health insurance. "People will take the opportunity to re-evaluate their choice of private health cover and will join the wave of consumers going online to research, evaluate and choose a level of health cover that represents the most relevant and best value for their particular needs and finances," said Miller.

With this increased attention on health insurance policies, Miller announced that moneytime had prepared a Top 10 Tips for people looking to evaluate private health insurance. He said the tips were aimed to be a consumer-friendly guide to navigating the multiples of choices available.

"We want to inform people that if they carefully compare health insurance options, they can take on policies that are tailor-made for them and more cost effective," said Miller. "For example, if you don't expect to be having children in the next 12 months, you can eliminate pregnancy and birth-related services from your policy and save money. This also applies to developments such as joint replacements and hearing aids, which would not be items that younger people need in their health insurance policies.

"There are also opportunities for people at a certain age to lock in permanently low health insurance premiums for life, if they know how to do it and what to look for," said Miller.

He said the listing of the top tips to save on health insurance was designed as a thought starter for people looking at their health insurance options based on price and relevance.

The tips are on the moneytime website at http://www.moneytime.com.au/health-insurance/tips-to-save-on-health-insurance.html

About Moneytime
Moneytime offers Australia's largest choice of major health insurance funds where people can compare, buy and save online. http://www.moneytime.com.au/

Contact David Miller - 1300 85 12 12

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