(PRLEAP.COM) With so many options available, it’s little wonder many of us consider switching health funds. And so we should - it’s important to know you’re getting the best cover for your budget and that your policy is in tune with whatever stage of life you’re at. Thankfully, it’s simple and free to compare health funds with Choosi. If you do decide to change your policy, switching is easy too. Read on for a step-by-step guide.
Choose a new plan.
First things first, you’ll need to find the best new fund for you. Start your search by comparing private health insurance funds with Choosi. Take note of what benefits are included, restricted or limited. Also find out the new fund’s gap scheme and how much they will cover for included benefit claims. Is there a maximum total benefit payable each year?
Another thing to bear in mind is that it’s totally okay to have hospital cover with one fund and extras cover with another. The decision is yours.
Do some quick paperwork.
Once you’ve purchased private hospital, extras or combined cover that suits your expectations, you’ll receive a form that gives your chosen fund the authority to cancel your old policy and obtain your member information.
Cancel any regular payments.
If you’ve paid premiums on your old fund in advance, you’re eligible for a complete refund. It’s a good idea to check that your old fund is no longer deducting authorised premium charges from your account and that any overpaid premiums have been correctly refunded.
Check your waiting periods.
Thankfully, switching health funds doesn’t mean you have new waiting periods - if you’ve already served them with your previous fund, your waiting period status will transfer with you.
The Private Health Insurance Ombudsman recommends that you review your private health insurance needs at least once a year to confirm whether your current cover still fits your circumstances and budget. Now you know how easy it is to switch, perhaps it’s time to consider reviewing yours.
Choosi can help you to compare health covers. Our comparison service is free and you can choose from a range of health insurance options.