Why Millions Of Aussies Could Lose Thousands In Benefits By The End Of The Year

Millions of Australians may unknowingly miss out on thousands of dollars in health insurance extras benefits before the year ends.

A new survey shows that many policyholders are unaware their extras benefit limits reset on January 1, causing any unused dental, physio, optical, or other extra services to expire overnight.

According to a recent Money.com.au study, the situation is more widespread than many think—an estimated 15 million Australians with private health cover have only a few weeks left to use their remaining entitlements.

Many Aussies Unaware They’re Leaving Value Behind

The research revealed that nearly 40% of Australians did not realise they still have unclaimed extras that will disappear by December 31.
Chris Whitelaw from Money.com.au cautioned that Australians are giving up huge value each year simply by not using what they’ve already paid for.

He explained that the “use it or lose it” nature of health fund extras catches many people off guard:

“Most people don’t know their benefits reset on December 31, meaning unused extras vanish instantly.”

Millions Admit To Leaving Extras Unused

The survey also found:

• 31% of Australians still have unused extras left on their policy.
• 15% have used little to none of their included benefits.

These numbers highlight how much value goes untapped every year, despite rising healthcare costs. auhealth benefits

Older Vs Younger Aussies: Who Misses Out More?

Interestingly, the study shows that older Australians are more likely to be unsure whether they have remaining extras. Whitelaw suggests that this may be due to attitudes toward health insurance or a lack of awareness about annual limits.

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Meanwhile, younger Australians—especially Millennials—are using their extras even less.
About 19% of Millennials admitted they have used very little or none of their extras for the year, making them the group losing the most value.

Millions of Australians risk losing significant health insurance extras simply because they are unaware of how their policies work.

With benefits resetting on January 1, unused dental, physio, and optical services could be wiped out instantly. Whether due to confusion, forgetfulness, or lack of information, this oversight could cost households hundreds to thousands of dollars annually.

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The message is clear: check your health fund extras now—use them before they expire.

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