Are you paying too much for Health Insurance?

Is your Health Insurance not giving you enough?

Plenty of Australians (just shy of 50%) have private health insurance hospital cover, while more than 55% have extras cover. Each year the federal government approves health insurance premium prices rises fund by fund and this is becoming more and more common as claims go through.

The overall increase on April 1 this year was 3.95% – the lowest in 17 years, but a substantial increase nonetheless. For the consumer, it’s worth keeping in mind that an average figure masks a wide range of individual changes. This makes it more important to review your position each year and ensure you are getting value for money.

The cost of private health insurance to you as an individual will depend on the fund you choose, the policy you select, your family group (how many people are being insured) and the state you live in. Although there are some Health Insurance Providers who are changing the game and offering discounts and rewards to those who live a healthy lifestyle and track their progress.

Most of us see health insurance as something for when things go wrong. There are now companies that see this differently and think you should get healthier and provide you with more value.
That’s why policyholders are now getting access to programs that help you to improve your health and well being and keep you motivated with ongoing rewards such as:

  • Up to 50% off gym memberships
  • 100% refund on your hospital excess
  • Up to $650 in shopping vouchers each year (Woolworths, Uber, Uber eats, Google Play, iTunes and the App store)
  • Up to 50% off eligible international flights
  • 50% off HOYTS vouchers
  • 30% off JAGGAD active wear
  • 30% off endota spa vouchers
  • 25% off Fitbit and Garmin fitness devices

These programs can be partnered with your life insurance and health insurance to also reduce premiums potentially bringing your overall cost to $0 with the savings you get from the partnered program. The more points you earn, the higher your status and the greater the rewards.

The way you earn points is by doing the following:

  • Swiping in at the gym (Fitnessfirst, Anytime Fitness, Virgin Active)
  • Tracking your steps, fitness and sleep through a linked device
  • Stop smoking
  • Complete online health and nutrition checks
  • Complete offline health assessments through a participating provider
  • Complete preventative health checks

So if you want to start receiving discounts straight away and as you complete a range of activities – like taking over 7,500 steps a day or going to the gym call our office and see if we can save you some money and compare against your existing benefits. Any waiting periods will be rolled over and we can take care of the switch for you.

Come in and have a chat in our Oran Park office located in the Macarthur area. We can review your overall financial health and see if there are any issues that need to be addressed to ensure you are making the most of your financial future.

Our office is located in Oran Park and Sydney CBD, however we service the wider Macarthur and Western Sydney region with suburbs including Campbelltown, Liverpool, Parramatta, Penrith, Ryde and Homebush.

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Ronald Pratap

Principal Financial Planner at RP Wealth Management | Financial Planning l SMSF I Insurance l Property Advisory. Our purpose is to provide our clients with sound advice and direction to assist with their financial affairs and help them make the best choices in achieving what is important to them.


Level 2
351 Oran Park Drive
Oran Park N.S.W 2570

  • Ronald has always gone above and beyond for getting the best for my husband and I. He is always very punctual and helpful in giving advice. Ronald makes us feel comfortable and that no question is a silly one. I would 100% recommend him to anyone.

    Matthew (32) & Yasna Dench (31)
    Regional Sales Manager | Special Education Teacher

  • I have been working with Ronald for over 6 years. During this time, Ronald has been outstanding in his efforts to improve the bottom line of my portfolio. His continued guidance and enthusiasm makes him the perfect adviser and manager of personal finances.

    Sharad Bhasin (54)
    Deputy Harbour Master

  • I found Ronald to be very knowledgeable about all aspect of finance and being very helpful in overseeing my finances and making sure that I will live comfortably for quite a few years to come. his friendly nature comes from deep down and his clients are treated like family. I will not be afraid of recommending Ronald to all my relatives and friends.

    Carmelo Venturini (69)

  • Ronald is a very friendly, knowledgeable and competent person, this is shown in every conversation we have had and it is a peace of mind knowing he is in control of my financials. Thank you

    Greg B (35)
    Warehouse Supervisor

  • Ronald at RP Wealth Management offers an invaluable service to my Estate planning clients by providing professional advice about protecting their family and their wealth with different insurance products in the event of a tragedy. Ronald is incredibly knowledgeable and always provides exceptional customer service to his clients.

    Kaisha Gambell (29)

  • I have had the pleasure of dealing with Ron and have found him to be both knowledgeable and sincere. He is someone that believes that if you do the right thing by people they will do the right thing by you. I would not hesitate to recommend Ron to people that are looking for someone to provide them with an ethical outcome

    Mario Z (32)


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