Most people who changed health insurance policies over the past 12 months saved money, according to the latest iSelect Health Pulse Survey.
The survey, conducted by YouGov on behalf of iSelect, found three-quarters saved money and the estimated average savings was $1151. This rose to $1589 for whole-of-family policies.
iSelect’s General Manager – Health Andres Gutierrez said every dollar counted during a cost-of-living crisis.
“We all know many Aussies are doing it tough currently, and any extra savings are more valuable than ever,” Mr Gutierrez said.
“Our inaugural Health Pulse survey shows switching private health cover could be well worth it.”
The Health Pulse data found that, on average, Australians had been on their current private health insurance policy for almost seven years.
More than half had their current policy for two years or more, and a quarter for over a decade.
“Among those surveyed who didn’t switch, one in five claimed they were not confident there would be savings if they switched,” iSelect said in a statement.
“Seventeen percent claimed it would require too much effort, and eight percent said they didn’t have enough time.”
Almost 40 percent of those surveyed had claimed for an in-hospital procedure or treatment in the past 12 months.
The most common procedures included removal of cataracts, skin lesion treatment, cystoscopy and total knee replacements.
