Daily London
The extras benefit limits of many health funds reset on New Year’s Day, meaning any unclaimed health insurance extras such as dental, optical or physio will be wiped out.
“Australians are effectively walking away from thousands of dollars in value every year,” Chris Whitelaw from Money.com.au warned.
“Many people don’t realise those benefits vanish overnight on December 31. It’s a classic ‘use it or lose it’ scenario.”
Around 31 per cent of Aussies say they still have some benefits left unused on their plan, and 15 per cent admitted they have used none or very little of their extras.
The survey found older Australians were more likely to be uncertain about whether they have unclaimed extras, with Whitelaw explaining attitudes may impact this trend,” he said.
“This means they’re less aware of their annual limits.”
However, younger Aussies are more likely not to use any of their extras benefits at all, costing them the most.
Around 19 per cent of Millennials say they have used none or a very small amount of their extras this year.
