Seniors are overspending on Health Insurance despite little known free service

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insurance > health

For older Australians health care is an additional expense, which when left unattended gradually creeps up in cost over time. Many people are not even aware of the fact that that because new policies are regularly released to bring in new customers, existing customers are there to foot the bill, with their premiums increasing every single year. Thanks to a newly available comparison service, it’s now easier than ever before to get ahead of the health insurance market price increases, and to stop overpaying for your previously outdated policies.

What is over 50’s health insurance?

Over 50’s health insurance is an insurance policy specifically designed to cover the needs of singles or couples who are over 50 or who are at retirement age (over 65 and up). Over 50’s health insurance can provide peace of mind that you’re covered for the common ageing conditions without having to rely on the public system.

Billysumo.com.au launched in 2018 has disrupted the Health Insurance industry by offering transparency and the opportunity for older Australian customers to see how much they might be overpaying for their policy. This is done by offering consumers the ability to compare health insurance policies from the larger and the smaller retailers. By looking at both the rates and inclusions side by side, it’s quickly easy to see what the cheaper rates are available, as well as how much money you might be able to save immediately by switching to an improved provider.

The service comes as many Australians who have had a health insurance policy for a number of years might not even be aware of the fact that they could very likely be overpaying. Disturbingly, the premiums have risen by an outlandish 66% in the past 10 years*. Many Australians are therefore feeling increasingly frustrated by the hidden agenda and tactics used by many providers, who they first thought were looking out for their interests. The Billy Sumo Health service has therefore been built to help you stay ahead of these changes, and ensure that you don’t miss out on the much improved deals available. It costs nothing to check and takes maybe 2 minutes, so it’s very much worth your time. Select your fund below, and see what’s available to you.

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This article is opinion only and should not be taken as medical or financial advice. Check with a financial professional before making any decisions.
*Reference: https://nationalseniors.com.au/news/latest/lowest-health-insurance-increase-in-19-years-our-budget-call