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.
The government has even outlined their commitment to helping Australians spend less on Health Insurance in 2020. Minister for Health Greg Hunt had approved a rise in private health premiums by a relatively low average of 2.92 per cent in October 2020, the federal government previously announced. Even more importantly however, Australian’s are still urged to compare their existing policy, because it is quite likely that they are leaving money on the table by not looking for an improved option through a service such as Billy Sumo Health. Using the service, Australians can compare multiple health insurance brands, cover options and pricing all in the one place. The service saves time, but the biggest benefit for most are the potential dollar savings – in fact, customers may save hundreds off their yearly premiums.