Consumer advocate Choice has released a five-step plan for private health insurance (PHI) members, urging them to “have a think” about whether they actually need either hospital insurance or extras.

Choice’s 23rd Consumer Pulse survey showed 80% of respondents found PHI was the most pressing cost concern, ahead of fuel (78%) and electricity (74%). An earlier 2019 Choice analysis found some Australians were paying $1,700 more a year on some silver plus policies.

It gave Medibank a Shonky Award for its “Basic” cover, which was more expensive than several other “Bronze” policies. Choice consumer advocate Jonathan Brown said: “(PHI) has officially taken over energy as the most pressing household cost concern.”

Choice also urged PHI members to check their PHI rate rise and whether they got value out of their extras cover, use comparison services to shop around and prepay annual premiums by March 31. See Insurance Review, February 19)