# Cancel Policy Now & Keep 2010 Rates Next Year?



## who ru (1 Dec 2010)

Hi.

trying to find out if i wasn't dreaming this, but I seem to remember reading in a sunday newspaper that if a customer of any health insurance company were to ring up & cancel their 2010 policy now but renew the policy before 2011 then they would keep the premium rate they are paying now and avoid the hike in premiums expected next year.

can anybody shed any light on this?

thanks.


----------



## NovaFlare77 (1 Dec 2010)

In theory, someone can do this, but to be clear, it's delaying a price increase, not entirely avoiding it. (Just in case someone thinks they're getting the 2010 rates for years to come .)

A simpler approach with the same effect may be to ask your insurer to change your renewal date to one before any impending price increase. Simpler for the customer at least, because it's done in one phone call. And in the same phone call, ask about corporate plan equivalents. I think all insurers notify their customers a month before their renewal of any price increases.

If the insurer can't or won't change the renewal date (they're not obliged to), then one can cancel and join on a new policy. A refund of any overpaid subscriptions should be due, unless a hospital claim has been made or due to be made.

Be careful before agreeing to any changes though. There may have been benefit reductions/changes during the year that would now come into effect earlier with the new renewal date/rejoin date. Also families availing of the free newborn baby or the student rate may find themselves now paying more overall, especially in the case of students who would be charged as adults at the next renewal date.


----------

