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Save Money
If you are already insured, there are several ways which can allow you to save money on your premium and on your out-of-pocket expenses. It is important that you are covered for your health needs, but it is not necessary to be covered for everything. Pregnancy cover, for example, is not needed at every stage of your life. It is also essential to be aware of government incentives and surcharges to manage your spending and possibly save money.
Below are links to help you make informed choices:
- avoid the Lifetime Health Cover loading on your private hospital cover by taking private health insurance before you turn 31 years old
- avoid the Medicare Levy Surcharge, a government surcharge for people who do not have a private hospital cover and earn over a threshold
- review your cover to ensure your cover suits your health needs
- use the gap cover doctors to minimise your out-of-pocket expenses
- pay your premium early to benefit from the rate protection. If the premium increases within the period you have already paid your premium for, some funds will allow you not to pay the difference. In general, funds tend to increase their premium on 1 April each year
- share your health costs with your fund. To lower your premium you may agree to share your health expenses with your insurers by paying an agree amount when you receive treatment (excess or co-payment), or by having benefit restrictions or exclusions on your cover
- pay by direct debit, as some funds will grant you a discount.