Choice Says Drop Extras Cover

Choice Says Drop Extras Cover

News & Announcements

Posted: May 20, 2016

Choice Says Drop Extras Cover

Choice spokesman Tom Godfrey, choice.com.au 16

March 2016, says its analysis of extras cover shows

below average payout rates and savings of up to 45%

available for consumers who drop it.

The federal government’s decision to sign off on 5.59% average

premium increases sees consumers slugged with a

48.3% cumulative increase since 2009.

Choice found that only around $370 on average was

paid out in extras benefits per person in 2013/2014. It

also found that of top cover health insurance from the

two largest health insurance funds,

Bupa and Medibank Private, you can save between 30% and 45% of your

health insurance premium by dropping extras insurance.

The Medicare levy surcharge and the lifetime health

cover loading only apply if you don’t have private

hospital insurance. You don’t need extras cover to avoid

the charges.

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