HCF urges Australians to 'take stock' this end of financial year

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HCF says Australians should review their private health insurance policies to make sure they are getting value for money as the end of the financial year approaches.

More than 14 million Australians currently have private health insurance membership. Yet with the cost of living a major issue for most, the end of the financial year is an opportunity to take stock of where value and savings can be found.

HCF chief officer product and diversified business, Lorraine Thomas, said that financial stress could be helped by having peace of mind when it comes to knowing the true worth of health cover.

“At HCF we’re not your typical health fund – we genuinely want our members to get great value cover, but that might look different for every Australian household,” said Ms Thomas.

“There’s no denying cost of living pressures are mounting for many Australians, so we’re encouraging people to understand how to make the most of their cover so they’re not paying more than they need to, and also to tap into the benefits and offers they might not realise are included.”

Ms Thomas recommends people regularly review their cover, using extensive provider networks to access no or known gap services and make use of loyalty programs, as well as health and wellbeing programs. She also said people should explore financial hardship options if they are experiencing difficult times.