Switching Health Insurance Policies Could Save You Hundreds – If Not Thousands
Published December 9, 2025
Switching health insurance policies could save you hundreds each year, especially if your current cover no longer matches your lifestyle. It was when Jennifer opened her latest health insurance bill, she knew something wasn’t right. The figure that she was being asked to pay was much, much higher than normally expected. Jennifer had been with her fund, for several years. Her policy was Gold-level hospital cover, and she never raised any issue until her monthly payments kept creeping up year after year.
A lifestyle change meant Jennifer’s cover was no longer the right fit
Jennifer and her partner were done with the kids, and they were barely using the cover, so she was wondering if by downgrading or switching health insurance policies she could save a bit.
But when Jennifer called her fund to ask about moving to a lower level of cover, she was informed the only alternative was a Silver Plus policy that at best would provide a modest price reduction. She was told a downgrade to Bronze would leave her exposed and uncovered for essential services.
But Jennifer wasn’t convinced. It was unsound to continue paying for things which she no longer needed, more so since at the time she knew she was not going to have any more babies and also hadn’t used any of the major services that they’d told her she’d be missing out on.
Life changes, and so does your policy
Jennifer’s story is not the only one. Far too many Australians find themselves paying for cover they no longer need, or never did in the first place, simply because their circumstances changed and they haven’t compared other policies.
Here are some major life changes where reviewing your cover could present you with some serious savings:
- Your kids are off your policy: Depending on how old your children are, you may be able to switch from a family plan to singles or couples cover, or cancel extras like orthodontics, for example.
- You’ve finished a big treatment: Wisdom teeth out, done your stint in rehabilitation after a particular surgery, or finished fertility treatment? You may not need to continue paying for a higher level of cover which includes these costly services.
- You are not using your extras: Extras cover is one of the most misunderstood parts of health insurance. If you are not getting regular value from your extras or you pay for services you will never use, it may be time for a change.
- You’ve changed providers or locations: Most people stick with the same old fund out of habit. But shifting to a fund that has preferred providers in your area can dramatically cut your out-of-pocket costs.
How frequently should you review your policy?
Generally speaking, health insurance is something you need to review every 1-2 years, particularly if there is any change in your circumstances in the recent past. This can include anything like:
- A new baby or completing your family.
- Finishing major treatment or surgery.
- Changing jobs or income brackets.
- Moving to a new part of the country.
- Getting older and dealing with new health risks.
- Kids coming off your policy.
To conclude:
Whatsoever be the situation, the health insurance market itself changes all the time. At Utility Market, we believe everyday Australians seek for a transparent process to find affordable private health insurance. So, whether you’re just planning to start out or looking to switch health insurance policies, let Utility Market help you compare health insurance plans, cut through the jargon, and find a suitable plan that actually works for you.
