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, 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.