5 ways to save with your private health cover
HealthAgenda
Private Health Insurance
5 ways to save with your private health cover
Published March 2024 | 5 min read
Words by Selina Altomonte
Private health cover should never be set and forget. Try these tips to help get more value and greater peace of mind for your health.
Many of us are affected by the rising cost of living in Australia and are looking for ways to streamline the household budget and get more value from our purchases.
Your health is one of your most important assets, which is why we want you to feel confident that you have access to the best-quality care and feel empowered to make the right choices for your health and wellbeing.
From extras cover that gives you more back to expert-led programs that can help you proactively manage your health, here are five ways to save with your private health cover.
1. Understand the benefits of hospital cover
If you’ve been looking at the cost of health insurance and asking yourself 'Do I need hospital cover?’, consider what’s important to you in your life.
You might want to avoid long wait times for important surgeries like a knee or hip replacement, or perhaps it's important that you’re able to choose your medical specialist or hospital. Hospital cover gives you more choice, particularly when it comes to non-emergency procedures.
It also pays to understand government incentives such as the Australian Government Rebate and Medicare Levy Surcharge. If you earn more than $93,000 as a single or $186,000 as a couple (plus an additional $1,500 for every dependent child after the first), you’ll pay more tax if you don’t have private hospital cover. Also, if you take out hospital cover before the age of 31, you'll avoid paying a loading on your premiums.
As a not-for-profit, our focus is on providing more value for your health cover. In 2023, HCF members received over 97% of medical services in hospital at no cost or at a maximum of $500 through our Medicover network providers.
Make sure you choose a level of hospital cover that's a good fit for your health and life stage. For example, if pregnancy is no longer part of your plan, or if you've been diagnosed with a chronic health condition, speak to our team about changing your level of cover (waiting periods may apply), so you get the protection you need.
If your family is growing, you pay $0 excess for kids aged under 25, no matter how many times they go to hospital. You also have the option to keep your adult dependants on your cover until they turn 31 – giving parents extra peace of mind that young members can still access the services they need including mental health, dental and loyalty.
2. Make your extras work for you
Extras cover such as physio, dental, optical or mental health support services can be crucial in reducing the out-of-pocket costs that come with managing your health. In 2023, HCF covered almost 11 million extras services and saved over 642,000 members who used our No-Gap More for You provider network a total of $207 million.
Depending on your level of extras cover and annual limits, you can get 100% back* on your favourite extras like dental check-ups, optical and a first visit to a physio or osteo. This year we increased a number of optical benefits on eligible extras cover for frames, lenses and contact lenses so you can claim your full optical annual limit. Check your limits by logging in to the My Membership app or calling us on 13 13 34. HCF Flex My Extras^ gives singles and couples basic extras cover with a single flexible limit plus an additional optical limit and remedial massage limit, so you can get more back on the extras you'll actually use, like teeth whitening+.
It's important to review your claims regularly to get a clear idea of which extras you’re actually using. Perhaps you lead a very active lifestyle and physio and osteo are important to keep you moving. Or maybe your kids are reaching an age when you’re wondering 'how much do braces cost on private health insurance?', so orthodontic cover might be a priority.
If your relationship status changes, you may also need to consider a change in cover. Single parent families may pay less than the family rate for some HCF hospital and extras covers, so chat to our team to find out more about your options and the right cover for your family circumstances.
3. Tap into smart health support
We want you to maximise the tools available to you as a member so you can make informed decisions that help you take charge of your health and your cover. We offer a range of no-gap or free services to eligible members, including Treatment at Home and Second Opinion.
If you have an upcoming procedure, you can use the Dr Gap tool to find a provider from our wide network of specialists. Then, use it to get an idea of how much is covered by Medicare, how much HCF will cover and how much you may be out of pocket. You can also use our cost indicator tool to get an idea of the average cost of similar procedures.
Want more flexibility and convenience when you need to see a GP? GP2U is an online video GP service that makes it easier for eligible HCF members to access telehealth services. Thanks to our partnership with GP2U, all HCF members with health cover can access a standard GP consultation (up to 10 minutes) for a fee of $50.
4. Get to know our health programs
If your health and wellbeing goals include managing your weight, supporting your mental health, addressing joint pain or getting better sleep, you could be eligible for additional support through our Health Programs.
The COACH Program® offers telephone support from qualified health coaches to help eligible members# with heart conditions or diabetes improve their health.
Osteoarthritis Healthy Weight for Life is a weight management and nutrition program for eligible members** who are overweight and have osteoarthritis, and members may also be able to save on the CSIRO Total Wellbeing Diet program.
HCF has partnered with Ethos Health to bring our members Healthy Families for Life and Healthy Teens for Life, which are resources to support kids, from birth to teens, to develop positive nutritional habits for growth and development and reduce the risk of chronic conditions in their future^^.
HealthyMinds offers eligible members++ a free annual mental health check-in with a PSYCH2U psychologist, and you may also qualify## for a free 12-month subscription to the Sleepfit app to help build healthier sleep habits.
Eligible members with hospital or extras cover who have children aged 4 to 11 on their policy can access Calm Kid Central at no cost***, an online educational and support program to help children feel calm and confident, behave in positive ways, develop good friendships and manage challenging situations.
5. Make the most of member benefits
To help our members get even more value from their health cover, we created our reward and recognition program, HCF Thank You. Members can save up to 15% on HCF Pet Insurance^^^, up to 25% on HCF Travel Insurance+++ and 5% off selected purchases and other benefits at Ramsay Pharmacy. You may also have access to a range of discounts on everyday essentials including groceries, fuel, e-Gift cards and entertainment – an annual saving of around $900### for eligible members to offset premiums and get more out of life.
We’re also one of the only health funds that allows payments up to 18 months in advance, depending on your level of cover. This gives our members more security and certainty on price. Call 13 13 34 to speak with a member of our team about paying in advance.
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Important Information
* 100% back through More for You providers in our No-Gap network is available on selected covers. Waiting periods and annual limits apply. Providers are subject to change. We recommend that you confirm the provider prior to your appointment.
^ Flexible $650 single limit plus $175 optical limit per person, per year.
+ Limit of 1 take-home kit or in-chair treatment (max. 8 teeth/session) applies every 36 months. A 12 month waiting period applies.
# To be eligible, members must have a heart-related condition or diabetes and must have had hospital cover that includes heart conditions and vascular system for at least 12 months. Excludes Ambulance Only, Accident Only Basic cover and Overseas Visitors Health Cover. Clinical eligibility applies.
** Eligibility criteria applies. For more information see hcf.com.au/hwfl
^^ Service is available to all HCF members with any HCF health insurance product (excluding Overseas Visitors Health Cover), see hcf.com.au/healthyfamilies
++ 1 HealthyMinds Check-in available per member per calendar year. Service is available free to all members with hospital cover. Excludes extras only cover, Ambulance Only, Accident Only Basic and Overseas Visitors Health Cover.
## Eligibility criteria apply. See hcf.com.au/sleepfit for details.
*** Must have a child aged 4 to 11 on hospital or extras policy. Excludes Accident Only Basic cover and Overseas Visitors Health Cover.
^^^ All HCF members are eligible for a member discount of at least 10% on HCF Pet Insurance. HCF Ruby and Diamond members get a 15% discount. Existing Manchester Unity Pet Insurance policies are not eligible for discounts under HCF Thank You. Visit the HCF Thank You page for further information. Where relevant, increased discount will be applied automatically at first renewal after advancement in HCF Thank You tier. To be eligible for the discount members need to have the HCF My Membership app or online member services set up. This offer may be subject to change.
HCF Pet Insurance policies entered into for the first time prior to 21 March 2024 and subsequent renewals of those policies are issued by The Hollard Insurance Company Pty Ltd ABN 78 090 584 473, AFSL 241436, arranged and administered by PetSure (Australia) Pty Ltd ABN 95 075 949 923, AFSL 420183 (PetSure) and promoted and distributed by The Hospitals Contribution Fund of Australia Ltd ABN 68 000 026 746, AFSL 241414 (HCF). HCF Pet Insurance policies entered into for the first time on or after 21 March 2024 and subsequent renewals of those policies are issued by PetSure and promoted and distributed by HCF. Any advice provided is general only and does not take into account your individual objectives, financial situation or needs. Please consider the Product Disclosure Statement (PDS) to ensure this product meets your needs before purchasing, or choosing to continue with the product. PDS and Target Market Determination available at hcf.com.au/petinsurance.
HCF Pet Insurance is not part of HCF's health insurance business. Please do not assume that pet insurance and health insurance are similar. HCF may receive a commission of up to 13% of the premium for promoting HCF Pet Insurance Policies. HCF sales agents are paid a salary or wages but do not receive a commission or other payments attributable to the sale of HCF Pet Insurance. For more information, contact HCF on 1800 630 681 or petinsurance@hcf.com.au.
Manchester Unity Pet Insurance is issued by The Hollard Insurance Company Pty Ltd ABN 78 090 584 473; AFSL 241436, is distributed by The Hospitals Contribution Fund of Australia Limited ABN 68 000 026 746, AFSL 241414, and arranged and administered by PetSure (Australia) Pty Ltd ABN 95 075 949 923, AFSL 420183. Manchester Unity Pet Insurance is closed to new customers and is only available for renewal by existing customers. Manchester Unity Pet Insurance is not part of HCF's health insurance business. Please do not assume that pet insurance and health insurance are similar. Any advice provided is general only and does not take into account your individual objectives, financial situation or needs. Please consider the Product Disclosure Statement (PDS) and Target Market Determination (TMD) to ensure this product meets your needs before you renew your cover. Manchester Unity Pet Insurance PDS and TMD available at hcf.com.au/petinsurance.
+++ To access the discount code, log in to the My Membership app or online member services and go to the travel section of the HCF Thank You page to find the code. 25% discount applies to new policy purchases and is based on standard premium rates (including optional covers). It applies automatically upon successful input of the discount code and applies to any changes, upgrades or amendments made to the policy prior to commencement of the journey. The discount may apply to changes made after commencement of the journey, contact Allianz Global Assistance to find out more. Cannot be used in conjunction with, or in addition to any other discounts. No additional discounts will be provided to Members who already receive a Member discount. Please contact us for more information.
The Hospitals Contribution Fund of Australia Ltd ABN 68 000 026 746 AFSL 241414 (HCF) arranges this insurance as agent for AWP Australia Pty Ltd ABN 52 097 227 177 AFSL 245631 trading as Allianz Global Assistance (AGA). AGA arranges and manages travel insurance as agent for the insurer Allianz Australia Insurance Limited ABN 15 000 122 850 AFSL 234708 (Allianz). Terms, conditions, exclusions, limits and applicable sub-limits apply. HCF, Allianz and AGA do not provide any advice on this insurance based on any consideration of your objectives, financial situation or needs. Because of that, you should consider whether the advice is appropriate for you. Before making a decision please consider the Product Disclosure Statement, the Financial Services Guide and Target Market Determination (TMD). The TMD is available at allianzpartners.com.au/policies. If you purchase a policy, HCF and AGA receive a commission which is a percentage of your premium - ask us for more details before we provide you with services.
### Based on discounts available through HCF partners (Aug 2023) and average category spend from ABS Household Expenditure Survey, Australia (2017).
This communication contains information which is copyright to The Hospitals Contribution Fund of Australia Limited (HCF). It should not be copied, disclosed or distributed without the authority of HCF. Except as required by law, HCF does not represent, warrant and/or guarantee that this communication is free from errors, virus, interception or interference. All reasonable efforts have been taken to ensure the accuracy of material contained on this website. It’s not intended that this website be comprehensive or render advice. HCF members should rely on authoritative advice they seek from qualified practitioners in the health and medical fields as the information provided on this website is general information only and may not be suitable to individual circumstances or health needs. Please check with your health professional before making any dietary, medical or other health decisions as a result of reading this website.
