Changing to a new private health insurance provider could be a much easier process than many people realise, as policies are designed to be transportable.
It is advised that you compare health insurance at least once a year to make sure the cover continues to meet your needs and budget.
What many individuals may not realise is that federal regulation states that health funds, for hospital cover, must provide portability when members switch to a new provider.
In basic terms, this means that members cannot be asked to serve out their waiting periods again when they change to a new fund with an equivalent level of hospital cover.
To make sure this process is followed properly, the individual will need to make sure they have a Transfer or Clearance Certificate from their old provider and pass it on to their new fund.
This document should outline the waiting periods that have already been served and the level of private health cover they had previously held.
It may not be outlined in legislation, but the majority of health funds will also allow this process to be carried out for extras such as dental and ancillary cover.