News

NewsThe Private Health hack that could save you $600
The Private Health hack that could save you $600

The Private Health hack that could save you $600

Tags: Private Health Insurance
Last updated by Heath Davis on

Policyholders have been protesting with their feet by walking away from their health insurance providers citing unfounded and unfair price hikes.

But here’s a ‘hack’ that many don’t know about that could save you as much as $600 a year on your costs.

Website news.com.au reported this week that many health insurance customers are overpaying because they are, “failing to use their insurer’s pool of health providers”.

Anyone making extras claims relating to services like dental, optical, physiotherapy and chiropractic treatments, has the opportunity to significantly reduce their out of pocket costs by simply being treated by a provider endorsed by their respective health fund. By doing so, members can save money by triggering higher rebates. Some providers even have their own dentists and so on.

Yes – it’s really that simple!

So how much can you expect to save?

The article cited a report compiled by Bupa, which found that consumers can save up to around $600 annually by selecting providers where they receive discounts on extras claims and subsequently cut back on annual out of pocket expenses which can range from approximately $983 to $397.

That’s quite a significant sum.

With the current cost of living, out of pocket savings such as this are really too good to pass up.

Whilst opting to terminate your private health coverage might be something you can get away with in your younger years, we advise FiftyUps to look before you leap.

After all, it’s a harsh fact of life that with ageing comes illness and injury and you want to be prepared as best as you can.

Before you walk away, make sure you’re not like many other Aussies with private health insurance who are missing out on hundreds of dollars in savings and don’t even know it.

PS: Final weeks to check out our current special offer on Private Health Insurance with our friends at HCF here: https://www.fiftyupclub.com/campaigns/fiftyup-health-special-offer/plans

Switch today and receive up to $400 cashback! Hurry offer ends soon. 

Originally posted on .

Join the conversation

FiftyUp Club
The Private Health hack that could save you $600

Share your views with other members. 

Want to leave a comment? or .
Read our moderation policy here.
Someone
Someone from NSW commented:

Hi,l have always wondered why people can't choose there package with a health provider. If you had the choice l am sure more people would stay in a health fund. As most of the time you never use some of the extra's or you only get a pitence back , which makes you wonder why you joined up at all. 

Bianca
Bianca from NSW commented:

That is all very well as long as you live in a big city with these doctors provided. I live in the country, no such preferred doctors anywhere near.... Bianca 

Cheryl
Cheryl from VIC commented:

I am already with HCF I have hospital only but I have still have a few operations where I have been left out of pocket by around $1900.00 to me this is not acceptable we need to clamp down on theses specialist Orthopaedic pain management yet my husband has had heart surgery and our only out of pocket expence was our $450.00 excess payment. Anaesthetist are another bunch of rouges I am to have a procedure as a day patient on the 19th of October and the up front out of pocket fee is $500.00 not claimable from Medicare or my HCf insurance this is what really sucks 

Robert
Robert from NSW commented:

Just another part of the great health-service- provider ripoff. Examples........... 1. Why didn't/doesn't Medicare include dental services ? Too expensive ?? 2. My excellent, long-standing dentist has taken himself off the health funds' lists of endorsed service providers. Reason given - the funds don't pay enough. But then, maybe the really good ones like mine charge higher rates. 3. My GP of over 35 years recently retired, so I had to find another. The new one is very good, and he bulk-bills. However, without seeing or signing/approving any service, when I checked the on-line Medicare site, I found that every consultation has been bulk-billed for an extended consultation regardless of the time. 4. Had a minor op a few months ago. Except for a $500 excess.my private health fund covered all of the costs. Interestingly, the anaesthetist's bill had to be paid up-front. He charged $10 a minute - that's $600 an hour !!!. 5. The annual premium increase from my private health fund ( current and previous ) is never anywhere near the quoted average - always much higher. So who am I subsidising, why, and by how much ? 

margaret
margaret from NSW replied to Robert:

Yep $600 an hour and no one inquires about these bills. Have mentioned this quite a few times and nothing has been mentioned about checks on charges. No wonder the government and the public are finding health cost unaffordable. My last doctor would give me a 'bill' to take to desk so I knew what service Medicare was being charged for. After moving I had to change doctors and this one does not show me any paperwork. They could be claiming for what ever they wish. I am not saying they are, however this does not seem the best way for the Government to run medicare. The government should be insisting that a patient be given a form that makes it perfectly clear to THE PATIENT what has been charged for, as well any codes that make processing easier for the medical practice. I suspect there would be a considerable lowering of costs if this was done. 

Robert
Robert from NSW replied to margaret:

Hi Margaret, Methinks that the entire medical profession, from GP's up, is simply a money-making organisation. No checks or balances re Medicare, and private health insurance premium increases are simply rubber-stamped by the Health Minister of the day, no doubt prompted by lobbyists for the medical profession. I've been paying into the private health fund sector since 1965 ( hardly any claims - I should have a huge lifetime no-claim bonus ) and I can recall when there was no need for government subsidies, and there was no gap - on anything. For some, the introduction of Medicare became a license to print money, and it was about then that prices and premiums began to rise.. 

Comment Guidelines