Comparethemarket.com.au and Yahoo7’s Moneyhound have launched a comparison service to help Australians review their health insurance options ahead of next year’s anticipated premium rises.

With the cost of health insurance expected to go up again in April 2015, the new service enables consumers to compare the cost, features and benefits of their current health insurance policy, with a range of options from a number of well-known health insurance funds.

“We recommend people reassess their health insurance needs at least once a year, to ensure they’re getting as much value as possible from their policy. The easiest way to calculate value is to look at your spend on health services over the last 12 months, including what you claimed for and what you were unable to claim for. Getting real value is all about balancing the cost of your policy with the potential return in claims,” said Abigail Koch, spokesperson at comparethemarket.com.au.

With Moneyhound.com.au attracting more than 100,000 unique users per month, the new health insurance comparison service will be a useful tool for consumers as they look for a better deal across a range of personal finance products.

Jonathan Steel, director business development and partnerships ANZ, Yahoo7 said: “Moneyhound helps Australians get a better deal and save money across all their monthly bills and household expenses by offering price point comparisons across a range of services including credit cards, home loans, electricity plans, smartphones, broadband providers and car insurance. We’re excited to be partnering with comparethemarket.com.au to add the new addition of health insurance to our already extensive product profile.

“Consumers using Moneyhound will have access to a free comparison tool and educational content, designed to empower people to make informed decisions about their health insurance needs. There’s also a dedicated call centre number available for people who would prefer to speak to a specialist about their health insurance options,” said Jonathan.