What Should I Think About When Switching Insurance for Healthcare?

Is your current private health insurance plan no longer working for you? Many people consider switching insurance because of changes in their circumstances or need a better deal in parallel to their requirements.

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Is your current private health insurance plan no longer working for you? Many people consider switching insurance because of changes in their circumstances or need a better deal in parallel to their requirements.

This guide runs through what you need to think about should you consider switching insurance plans for healthcare.

Why Should I Consider Switching Health Insurance Plans?

If you think health insurance is complicated, you’re not alone. Millions of policyholders struggle to keep on top of the many factors that prop up their private health plans.

Many changes in society, personal circumstances, and technology, often leave customers unsure about their coverage and premiums. If you are unclear, it puts insurers at the reigns of what happens should you make a claim.

If you’re not feeling comfortable and confident with your health insurance plan, that’s when you should consider changing. Nobody wants to be left in the dark for coverage, especially when healthcare requirements
continue to change.

So what are the reasons behind switching insurance for healthcare? We outline some of the most prominent ones that drive the change.

5 Reasons to Switch Health Insurance

We compare plans from the leading health insurance providers

Suppose you begin to question whether your health insurance policy is right for you. In that case, there are a few reasons to verify that you may benefit from switching insurance. Discover five reasons below why many are considering
changing policies and providers.

1. You may get a more competitive rate with a different insurer.

The fact is that we live in a world with a highly competitive marketplace. That concept doesn’t go amiss in the health insurance industry, either.

Many insurers continue to compete for your attention offering low premiums and more cover to niche needs. Even if your current insurer covers everything you need, or you’ve had a decent experience, many providers could offer some
seriously competitive rates.

There could be premiums offering the same cover for much less. Even if you’re content with your current circumstances, it may be worth exploring different options so you can save a lot more money than ever before.

2. Find the private medical cover that’s more relevant to your needs.

As we grow older and extend our families, our current health insurance policies may not be as relevant. We may require more cover for another set of circumstances. Perhaps we’re more concerned about specific ailments. Maybe we want to
increase access to private medical facilities.

The list of reasons to change providers based on coverage could be endless. Your current private health insurance provider may not meet your requirements, not offer the required range, or the price may be too high.

Switching insurance to another private health policy may cover everything you need. Popular reasons include that their current provider doesn’t offer coverage such as dental or optical care or alternative therapies.

There’s a lot of malingering room by changing health insurance providers. You can get a policy more aligned to your current needs and concerns.

3. The costs of your current premiums keep increasing.

There could be a variety of reasons why your premiums keep going up. However, there’s a limit that we’re all willing to pay for our private health insurance.

Suppose you see premiums rise to excessive levels. In that case, it might be time to seek a switch to another health insurance provider. Even though there’s no guarantee you can find a similar cover at a lower price, it’s certainly
worth browsing.

4. Get more for your money with a different insurer.

Advancements in technology and increased competition in the health insurance market have brought about more benefits in new insurance plans. Those can be anywhere from increased coverage into niche areas of healthcare to digital apps
that provide an overview of your current health.

Overall, switching health insurance providers may offer substantially more value in various ways. You could end up getting quite a bit more for your money than what you spend on your current healthcare premiums.

5. You’ve had a poor experience with your current insurance provider.

One of the most apparent reasons policyholders switch insurance providers is that they’ve had bad experiences with their current insurers. These issues can range from poor customer service to lengthy delays in making a claim.

It’s essential that you trust your health insurance provider to have your back and look after their customers. After all, we pay the premiums to secure our health. Should you feel some turbulence or strain in the relationship between
yourself and your insurer, perhaps it’s time to switch health insurance.

Get in touch with numerous health insurance providers and consider switching to one where you feel most comfortable.

Other Reasons Why You May Need to Change Your Health Insurance

It’s worth mentioning that there could be other reasons that would force you to change insurance rather than a desire to swap plans. Discover some different reasons below where you may need to change your health insurance provider.

  • You’ve moved to a new area – Some health insurance policies are only valid for a particular site. They may become void if you move to a new country. Check to see if your current insurer will extend the same
    coverage to the new region you take residence.

  • There have been changes to your employment – There are policies tied to your employment status. If you change jobs, you may want to jump on their healthcare plan if there is one.

  • Significant changes to your plan’s network – A health insurance policy’s network isn’t always the same throughout the plan’s life cycle. Private doctors and facilities could decide to stop accepting your
    insurance as coverage for medical costs.

So now that you have a broad understanding of why you’d consider switching health insurance, you may want to get a sense of how you can accomplish the change.

How Can I Switch Health Insurance?

Generally, health insurance policies last for 12-month periods. If you’d like to switch providers, it’s of high recommendation that you do so at the time of your policy renewal date. Otherwise, you may be subject to penalties such as
cancellation fees, making the prospective switch redundant.

There are two most common scenarios for switching health insurance providers—one at renewal date and the other mid-policy. We’ll outline both so you can understand how to switch providers.

Switching Insurance at Renewal Date

Here are the steps to switching health insurance policies with an upcoming renewal date.

  1. Reach out to your prospective new insurer at least 60 days before your current policy is due to expire.

  2. Once you’ve found your ideal plan, fulfil any requirements set out by the new insurer.

  3. Your application for the new policy will get processed.

  4. Once accepted, ensure the policy start date is the day after your current health insurance renewal date.

  5. When the new policy is secured, inform your current insurer that you will not renew the policy.

We note that insurers don’t all have similar cancellation, renewal, or application policies. If you are unsure about making a switch, speak with your prospective new insurer about changes to their health plan.

Switching Insurance Mid-Policy

It is your right to be able to switch health insurance mid-policy. However, there is probably a clause about cancelling or changing plans when you agree to your coverage. That clause would reveal the penalty fee you would have to pay to
get out of your existing policy.

Not every insurer has penalties when cancelling plans to switch. But it’s safe to assume most will charge some fee. These can vary in amount, so it’s wise to check how much it will be to get out with your current insurer.

The steps are simple if you wish to pay any penalty to switch insurance mid-policy.

  1. Secure your new health insurance policy with another provider.

  2. Ensure the policy is active before contacting your current insurer.

  3. Once accepted into the plan, inform your current provider you wish to cancel.

  4. Agree to any penalties for withdrawing from the policy.

Just remember that switching insurance plans may not be as straightforward as you’d like due to their regulations about how to withdraw. Speak to your current insurer to get a concise understanding of cancellations.

Otherwise, you can bear some tips in mind when switching insurance anytime.

Tips for Switching Health Insurance

We’ll outline some of the “do’s” and “don’t’s” about switching to a new private health care policy.


  • Be sure to reflect on your current health insurance policy before switching

  • Scout for a range of insurance providers to ensure you’ve got the right plan for you

  • Make notes of all the coverage vital to your new plan

  • Seek advice from health insurance brokers about making a switch to a new plan


  • Don’t always look for the lowest premiums when switching health insurance

  • Don’t get lured into a new plan without understanding the complete impact on your coverage

  • Please don’t make your new policy a downgrade from the previous one because it’s less expensive

  • Don’t cancel your current health insurance policy until you’ve secured your new one

We can exemplify those tips in action with people’s mistakes when switching health insurance policies.

Common Mistakes When Considering Switching Healthcare Plans

Speak to a health insurance expert before switching to a new one. That way, you can understand the implications between changing providers and get peace of mind that switching is the best course of action.

However, we can outline many people’s mistakes when switching insurance policies. These are something to remember as you consider a new healthcare plan.

Discovering a Better Plan When You’ve Already Committed to a New One

This mistake is why it’s crucial to do extensive research into a new health insurance policy. Many people will find a plan they think works for them for a few niche reasons, only to discover one even more tailored to their needs.

Make sure your new plan covers your current and potential health needs before committing to one you may regret.

Ending Up With No Coverage at All

Suppose you are sure that you want to switch health insurance providers. In that case, you need to leave a substantial amount of time to secure a new policy before either the renewal date or cancellation.

One of the biggest mistakes in switching insurance is that policyholders lose all their coverage. That loss is because they’ve either cancelled too quickly or not secured a new plan past the renewal date. Don’t leave yourself vulnerable
– make sure you have coverage by leaving a good time to sort the details.

Only Looking at Healthcare Plans With Low Premiums

Choosing inexpensive plans is another significant mistake that people switching health insurance make. Changing health plans for the sole reason of lower premiums is not recommended in the slightest.

Ultimately, the reason for a switch should be to find a plan that better suits your current and future health circumstances. Lower premiums likely mean that you won’t receive the coverage you currently have or need.

Always research plans that suit your coverage expectations. If the premiums are a bit lower, that’s a bonus. However, that should not be the first thing on your agenda.

A Summary of Switching Insurance for Healthcare

Now that we have a comprehensive guide of what to think about when switching health insurance, we can summarize this article’s key points. Find the summary of changing insurance for healthcare below:

  • Consider switching private health insurance plans only when you’re not feeling confident about your current coverage.

  • Switching health insurance can mean lower premiums, more extensive coverage, and increased benefits.

  • Advice is to change policies closer to your current plan renewal date, but insurance can get cancelled with a penalty

  • Avoid picking new health insurance plans because of low premiums, and leave a good time to switch.

So with all that information in mind, happy hunting for a new private health insurance plan. Remember, discuss your switch with a specialist or broker to answer any queries, questions, or concerns about changing providers.

Your confidence and satisfaction in switching insurance for healthcare is the utmost priority.