Nearly two million Australians are missing out on their health insurance premiums due to the cost of living crisis, new data has revealed.
A new research report from Finder has shown that 15 per cent of people with health insurance, or two million people, have missed their premiums in the past 12 months.
The cost of living crisis is causing people to struggle to meet other daily expenses, it says.
11 per cent of those surveyed said they would miss out on paying at least one insurance premium in the next 12 months.
As the cost of living crisis worsens, families are prioritising essential needs over health insurance premiums to keep their finances in check, says Finder insurance expert Tim Bennett.
However, he said that skipping a health insurance premium payment is a risky act that can have serious consequences.
Tim Bennett stated that they risk being underinsured at a critical time due to the reduced coverage provided by insurance by skipping premiums.
