Are you looking for simple and affordable private health insurance in 2021? Do you want peace of mind for your own health or just want to make sure your family is covered for emergencies?
At Health Insurance Comparison, we get that you only want to pay for what you want to use.
That’s why we want to share some of the tips and tricks our specialists have learned over the years that can cut your costs, regardless of whether you’ve got hospital, extras or combined cover.
10 ways to keep your health cover costs low
- Keep an eye out for deals – Plenty of health funds release limited special offers and deals to entice new customers. This is often in the form of reduced waiting periods or an initial period of free cover.
- Pay annually – Some health funds offer discounts if you decide to pay up in full each year. If you can afford it, this can be a useful saving.
- Pay before April – Health funds raise their premiums on 1 April every year. If you’re paying annually, you can lock in last year’s rates for up to a year if you take out your policy around February or March.
- Compare policies regularly – This is the quickest and easiest way to cut costs. Use a site like Health Insurance Comparison and see how your current funds stacks up against some alternatives.
- Choose a higher excess – This can help lower the cost of your hospital premiums . For those who want to avoid the Medicare Levy Surcharge, make sure your annual excess is no higher than $750 for singles or $1,500 for couples and families.
- Don’t pay for items you don’t need – Plenty of policies include items that you’ll never need. Plenty of 60-year-olds are paying for pregnancy cover, even though many funds have specific hospital policies aimed at older Australians.
- Look into a restricted fund – If you’re eligible, some restricted health funds often offer competitive hospital cover or extras limits you won’t find anywhere else. For example, the Emergency Services Health Fund allows you to roll over unused extras limits. Eligible members and their close relatives can take advantage of this. See how the restricted health funds compare on our insurer review page.
- Check your employee benefits – Health funds can give discounts of up to 12% to employees of partner companies.
- List out your most-used extras – Need a few trips to the dentist each year? Wear glasses? Got an active lifestyle that requires regular physio trips? Taking time to list what extras you’re most likely to use and then shopping around helps you get more back from your benefits.
- Review your policy annually – It’s not only good for saving money but to also check if your existing policy is offering the right coverage for your age, needs and life stage.
Feeling in the mood to save money? Click on your state below to get started and see how much Health Insurance Comparison could save you.