HEALTH CHECK

Article excerpt:

It is something that around 45 per cent of the population currently have, although few of us actually want to be in a position to use it. Health insurance is often a contentious item in the household budget and never more so than when premiums are increasing. With an average increase of 4.99 per cent set to take place from April 1, now may be a good time to review your current health fund to ensure that you are getting value for money.

There are several online health insurance brokers available including iselect.com.au and moneytime.com.au. 'Using online comparison sites is very much par for the course in many countries,' says David Miller, managing director of Moneytime. A relative newcomer to the market, Moneytime enables users to compare five of the top 10 private health insurance funds, with a sixth fund due online soon. 'We offer as many funds for comparison as other online brokers and the funds that we offer hold a healthy market share,' Mr Miller says. He says Moneytime is a straightforward comparison site that does not make recommendations. 'We provide information to educate users about their options and we allow them to compare the features of the participating funds.'

Like iSelect, Moneytime is free to use but makes it money by receiving commissions from the participating health funds. '(But) we don't play favourites,' Mr Miller says. 'There is no material difference between the commissions we receive from each fund.'

Back to Private Health Insurance: Latest News