It’s time to remind your Australian customers that they only have days left to claim over $1,000 in rebates before they reset on January 1, 2023.
Personal finance marketplace Compare Club’s new research revealed that $1,300 in health insurance extras go to waste every year as major health insurance providers – such as Bupa, Medibank, and HBF – usually reset their extras in the new year.
Compare Club senior health insurance advisor Eli Boroda said a “classic example” of an extra many Australians ignore is dental rebates.
“Most Aussie health insurance holders have access to $1,050 of dental rebates but on average only claim $238, meaning they’ve missed out on $812 worth of treatments or check-ups,” Boroda said, as reported by 7News.
Compare Club said Australians can make the most of their insurance extras by keeping the receipts for their treatments, enabling them to claim extras in the following year for treatments they had and paid for in the previous year. Another way is to check what extras they have remaining and book in as much as possible before the end of the year.
“If you don’t like your extras, shop around and look at switching to a policy that’s a lot closer to what you’ll actually use,” Boroda said. “There’s no point in paying hundreds of dollars for big annual extras limits if you never use them up.”
With the looming health fund price hike next year, Boroda further advised Australians to “wring every last cent of value out of [their] policy.”
