According to recent research by Compare Club, Aussies are missing out on an average of $1300 in health insurance benefits because they don’t automatically roll over in the new year and major health insurance providers, including Medibank, Bupa, and HBF, reset extras on January 1.

Only four days are left in 2023, meaning yearly benefits like free massages and dental check-ups are expiring rapidly and if you aren’t using them, you’re leaving behind money.

Senior band manager at Compare Club, Gary Andrews, said he finds most Aussies don’t simply forget to take advantage of the extras they are paying for, but rather don’t even realise what they are entitled to in the first place.

“I don’t think they forget about it; they just don’t realise how much they’ve got on their policies,” he explained.

Mr Andrews said that while most people remember to get their eyes checked or go to the dentist, things like podiatry care and remedial massages are benefits people often forget about.

Mr Andrews pointed out that if you’re an Aussie family with a standard policy covering two adults and two children and having a mid-level extras plan, you’re entitled to thousands in benefits.

“You’d be looking towards $17,000 to $1800 extra for a family of four,” he said.

Mr Andrews added that if you’ve had a quiet health year and your family hasn’t dealt with many health issues, those extras can pile up and remain unused.

He claimed it was quite common and stems from the fact that people often don’t have a good insurance match.

You need to look at what your family actually needs, ignore the bells and whistles and don’t just sign up for anything.

Mr Andrews said signing a plan that has benefits you don’t need is a mistake and the act basically means people are “leaving money on the table” and aren’t making the most of what they are entitled to.

The brand manager advised that if you’re scrambling to use up any extras during this period, like frantically trying to book into the podiatrist, it might be a good time to rethink your policy and what you actually need in the new year.

“If you’re one of those people scrambling to use up their extras… then get using them before the end of the year but look in the New Year if there is a cheaper policy,” he said.

Still, Mr Andrews said that while it is essential to find the right plan, private health insurance is still very much worth it because a minor dental issue can cost thousands if you aren’t insured.

“Yes, it is! When you look at things like dental that Medicare doesn’t cover, all it takes is a crack on your tooth, and you’re looking a lot of money.”