{"id":109238,"date":"2026-02-22T10:31:00","date_gmt":"2026-02-21T23:31:00","guid":{"rendered":"https:\/\/en.econostrum.info\/au\/?p=109238"},"modified":"2026-02-21T00:21:22","modified_gmt":"2026-02-20T13:21:22","slug":"health-insurance-mistake","status":"publish","type":"post","link":"https:\/\/en.econostrum.info\/au\/health-insurance-mistake\/","title":{"rendered":"The Health Insurance Mistake Costing You $828 a Year"},"content":{"rendered":"\n

It\u2019s something most of us don\u2019t think about\u2014health insurance. You sign up, forget about it, and keep paying the premiums, year after year. But what if that loyalty is costing you more than it should? A new survey reveals a huge gap in what Aussies are paying for private health insurance, and it\u2019s all because of one big mistake. So, what is this costly blunder, and how can you avoid falling into the trap?<\/p>\n\n\n\n

The Insurance Mistake: Loyalty Can Be Expensive<\/h2>\n\n\n\n

If you\u2019ve been with the same health insurance provider for years, you might want to take a closer look at your premiums. A recent study from Compare the Market uncovered a startling fact: Aussies who\u2019ve stayed with their provider for over 10 years are paying, on average, $828 more per year than those who have switched to a new plan within the last year. Let that sink in for a second. That\u2019s $828 that could be spent elsewhere\u2014on something you actually need, rather than just sticking with a provider out of habit.<\/p>\n\n\n\n

The numbers are striking. Long-term customers pay an average of $306.88 per month, while newer customers are paying around $237.84, reports Yahoo Finance<\/a>. That\u2019s a difference of almost $70 a month\u2014an extra cost that adds up fast.<\/p>\n\n\n\n

Why Does This Happen?<\/h2>\n\n\n\n

The main reason for this price discrepancy is simple: loyalty doesn\u2019t always get you rewarded. Insurers often hike up premiums for existing customers, knowing they\u2019re less likely to shop around. As prices increase year after year, those who\u2019ve been with the same provider for a decade are left paying more than they should be.<\/p>\n\n\n\n

The situation\u2019s about to get worse, too. Premiums are expected to rise by 3.9% to 4.4% in April 2026. That\u2019s another hike on top of what you’re already paying, and if you\u2019re one of the long-term customers, it could mean an even bigger hit to your wallet.<\/p>\n\n\n\n

The Solution? Shop Around!<\/h2>\n\n\n\n

So, what can you do? The answer is simple: shop around! Don\u2019t just accept the status quo. Health insurance isn\u2019t a one-size-fits-all product, and what worked for you five years ago might not be the best option today. Take the time to compare different plans, look for better value, and check if you\u2019re paying for things you don\u2019t need. For example, if you\u2019re well into your 50s or 60s, paying for pregnancy coverage might not make sense anymore.<\/p>\n\n\n\n

It\u2019s easy to forget about your health insurance<\/a>, but by being proactive, you can save hundreds of dollars every year. The key is to regularly review your plan, compare options, and make sure you\u2019re not overpaying for coverage that doesn\u2019t suit your needs.<\/p>\n\n\n\n

Bottom Line: Take Control of Your Premiums<\/h2>\n\n\n\n

Sticking with the same insurer for years may feel like the easier option, but it could be costing you more than you realize. Don\u2019t fall into the trap of paying for outdated coverage. Take a few minutes to shop around and you could save a substantial amount. After all, that extra $828 could go toward something far more exciting than just health premiums.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/InsuranceAsia_\/status\/2022223529324798284\n<\/div><\/figure>\n","protected":false},"excerpt":{"rendered":"

Sticking with the same health insurance provider could be costing you $828 extra per year. Here\u2019s how to avoid the mistake and save money.<\/p>\n","protected":false},"author":14,"featured_media":107453,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[44],"tags":[],"class_list":["post-109238","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","generate-columns","tablet-grid-50","mobile-grid-100","grid-parent","grid-33","no-featured-image-padding"],"_links":{"self":[{"href":"https:\/\/en.econostrum.info\/au\/wp-json\/wp\/v2\/posts\/109238","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/en.econostrum.info\/au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/en.econostrum.info\/au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/en.econostrum.info\/au\/wp-json\/wp\/v2\/users\/14"}],"replies":[{"embeddable":true,"href":"https:\/\/en.econostrum.info\/au\/wp-json\/wp\/v2\/comments?post=109238"}],"version-history":[{"count":4,"href":"https:\/\/en.econostrum.info\/au\/wp-json\/wp\/v2\/posts\/109238\/revisions"}],"predecessor-version":[{"id":109244,"href":"https:\/\/en.econostrum.info\/au\/wp-json\/wp\/v2\/posts\/109238\/revisions\/109244"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/en.econostrum.info\/au\/wp-json\/wp\/v2\/media\/107453"}],"wp:attachment":[{"href":"https:\/\/en.econostrum.info\/au\/wp-json\/wp\/v2\/media?parent=109238"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/en.econostrum.info\/au\/wp-json\/wp\/v2\/categories?post=109238"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/en.econostrum.info\/au\/wp-json\/wp\/v2\/tags?post=109238"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}