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.
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.
That's a whopping 41% of Australians with health insurance who admit they rarely – or never – review their cover.
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.
Taylor Blackburn, personal finance and insurance specialist at Finder, said too many Australians are paying for health cover on autopilot.
"Australians are paying their health insurance premium month after month without stopping to ask if they're still getting value for money.
"Premiums go up every year and your circumstances change – your income, your family, your health needs.
"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."
Blackburn urged Australians to check their health insurance policy before the financial year ticks over.
"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.
"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."
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.
Credits
- PR & Insights research team: Taylor Blackburn, Kate Boddington, Natascha Kwiet-Evans, William Capada
- Survey operation: Qualtrics
Sources
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