I have seen all the TV ads about private health insurance increases by more than 4% from April 1st? I currently have family cover with Bupa. Should I be shopping around for a better option or will this affect all insurers across the board.
Any help would be appreciated
Purely from a financial perspective, yes. You should be reviewing your expenses yearly to make sure that you are on the appropriate product and that your provider isn't taking you for granted. Most health insurers will increase on April 1st but it will vary across the board so it doesn't hurt to find out what's on offer.
Try a comparison site first and see what meets your needs
Unfortunately we'll all be affected by the changes to the new rates as it was industry wide. As a general rule, you should always be looking at the market every couple of years to see what else is out there.
Just remember that many insurers change their focus every few years, meaning their target market changes. So, what may have been priced well a few years ago, you might be able to get with another provider this year or next.
Health insurance is something of a minefield, so make sure you do your research before changing. Not one policy fits all. It will always depend on your personal situation, so it's worthwhile to get some comparisons from one of those online sites, but make the phone call to the insurer to ask.
I hope that helps.