Changing Your Mind About Private Health Insurance- What You Need to Know
Published November 11, 2025
So, you’re thinking about changing private health insurance, and maybe you’ve got a few questions. Well, don’t you worry, we’ve got you covered on everything you need to know, and what you need to do if you change your mind.
Considering Changing Your Private Health Insurance?
No stress as Changes in policy are allowed within a month, hassle-free, provided one has not filed a claim. You will not have to go through the waiting periods all over again if you opt for an upgrade in your coverage. You have this cooling-off period to show you have made the right choice.
Easy Switching from Providers
If you join a new private health insurance provider, they will do all the formalities for you. They will contact your old insurer, cancel the old policy, and make sure waiting periods carry over. Additionally, your previous insurer will refund any advance premiums you’ve paid.
Waiting periods and changes in policy
Check with Your New Private Health Insurer. Waiting periods transfer with you when you switch insurers, meaning you will never have to reserve any waiting period. You may have to wait a bit until you can claim benefits if you upgraded to services not covered in your previous policy.
Cancelling Private Health Insurance
Cancelling your private health policy is pretty straightforward. You may need to call, fill out an online form, or log into an online portal with your provider to notify them of cancellation, depending on who your provider is. If you cancel, your private health fund will refund any advance payments you’ve made.
Four steps to find the right health insurance plan
Ready to get started? Here’s how you can find a good health insurance policy:
1. Give value on your health needs first
First and foremost, before comparing and selecting any health insurance policy, you will need some time to seriously think through your immediate health needs. Consider your medical history, how often you see your GP or specialist, what prescription drugs you are currently taking, as well as any scheduled medical procedures in the near future.
2. Compare all the available plans
Basic hospital cover: Covers only the most basic level of hospital treatment and is generally the cheapest policy regarding premiums.
Extras cover: Entitles you to services such as dental, optical, physiotherapy, chiropractic, and other therapies that fall outside of Medicare. Perfect for anyone who frequently uses these services.
Combined cover: Packages together hospital and extras cover in one policy. It’s usually the cheapest option for most people to get the most comprehensive protection albeit at a higher premium.
3. Compare premiums and out-of-pocket costs
Though premiums are the most readily apparent cost of your medical insurance, they’re not the only one to pay attention to. You see, out-of-pocket expenses, sometimes referred to as gap fees or patient payments, can rather quickly become a heavy burden-particularly if you have ongoing health needs. You want to look at the overall cost of care, considering both your premium and all anticipated out-of-pocket expenses when shopping for plans.
4. Consider all extra benefits
Some plans have additional health insurance benefits that will aid you in improving your general health and well-being. Surprise benefits may be services of a preventive nature, wellness programs, or even discounted gym memberships. While these perks shouldn’t be the deciding factor in making you choose a specific plan, they could provide enough value to tip you over the edge.
Need Help Deciding?
In case you are still confused and would like to compare the best options of health cover, feel free to get in touch with our team at Utility Market. We will provide you with the perfect private health insurance policy that best suits your needs.
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