EOFY switch and save: 2 in 5 with health cover rarely check their plan
Key takeaways
- 41% of health insurance customers say they rarely, if ever, review their cover.
- Major health funds roll out end-of-financial-year incentives.
- Cash back offers up to $500 available in June.
Millions of Aussies could be missing out on better-value health insurance, according to new research by Finder.
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Despite annual premium increases, Finder research shows 18% of Australians with health insurance say they have never reviewed their policy, while a further 23% only check their cover every few years.
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That's a whopping 41% of Australians with health insurance who admit they rarely – or never – review their cover.
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This comes as major health funds roll out end-of-financial-year incentives. Finder is also offering up to $500 in cashback rewards for eligible Australians who switch to providers like HBF, Medibank, or ahm before June 30.
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Taylor Blackburn, personal finance and insurance specialist at Finder, said too many Australians are paying for health cover on autopilot.
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"Australians are paying their health insurance premium month after month without stopping to ask if they're still getting value for money.
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"Premiums go up every year and your circumstances change – your income, your family, your health needs.
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"If you haven't looked at your policy in years, there's a good chance you're not on the best plan for you, and it could be costing you."
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Blackburn urged Australians to check their health insurance policy before the financial year ticks over.
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"The end of financial year is when insurers roll out some of their most competitive offers, so right now there's a real incentive to act.
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"The best deals on the market are almost always reserved for new customers, so shopping around — and grabbing the cashback while it's on the table — can make a huge difference."
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How often do you review your health cover?
| Never | 18% |
| Every few years | 23% |
| Once a year | 40% |
| Every 6 months or more often | 19% |
| Source: Finder survey of 535 Australians with private health cover, May 2026 |  |
Methodology
- Finder's Consumer Sentiment Tracker is a monthly recurring nationally representative survey of more than 90,000 respondents.
- Figures in this release are based on 1,010 respondents from May 2026, 535 of whom have private health cover.
- The Consumer Sentiment Tracker is owned by Finder and operated by Qualtrics.
- The survey has been running monthly since May 2019.
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Credits
- PR & Insights research team: Taylor Blackburn, Kate Boddington, Natascha Kwiet-Evans, William Capada
- Survey operation: Qualtrics
Sources
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