EXPOSED: 7 Tricks Your Health Fund Doesn’t Want You To Know
Last updated 5 December 2024
Article by Victor M
After 9 years in the industry, I’ve spoken to many Aussies, just like you, unknowingly overspending on their health insurance.
You don’t have to be one of them.
In this short guide, I’ll share the 7 tricks that health funds don’t want you to know.
I use these to save my clients hundreds and even THOUSANDS of dollars in less than 12 months, and I hope they could help you too. Read on…
1. Don’t Fall for the Fancy Names
Years ago, health funds could use any name to label their hospital and extras policies.
Names like “Top Plus”, “Classic” or my favourite “Advantage” were used, but by no means did these names reflect the actual level of cover or what was included and excluded.
To make sure you’re on the right policy, read the excluded, and restricted Clinical Categories or have an expert review it for you (click here to book a call)
2. Be Wary of the New Categories
After 2019, the government tried to simplify policy names by introducing standardised levels of hospital cover, Basic, Bronze, Silver, and Gold.
But this resulted in more confusion, and here is why:
Health funds could take Clinical Categories from a higher level (like Silver or Gold) and add it into a lower level, now making it a “Bronze Plus” or “Silver Plus” - so what’s the problem, I hear you ask?
Two policies both labeled Silver Plus can have different inclusions! One “Silver Plus” might include Joint Replacements, and another might not.
The lesson? be wary of your Silver Plus cover or have an expert review it for you (click here to book a call)
3. Ditch Your Old Policy
If your fund says your policy isn’t available anymore, here’s the translation: it’s outdated, overpriced, and under-delivering.
I’ve seen people stick with these "grandfathered" policies because they think it’s better to stay loyal.
Spoiler alert: it’s not. These plans often have low rebates and high premiums. If your out-of-pocket expenses are through the roof, it’s time to shop around or have an expert review it for you (click here to book a call)
4. Stop Paying Big Gaps on Extras
Extras like dental, physio, and optical are meant to save you money—but if you’re only getting $25 back on an $80 session, you’re getting ripped off.
Look for policies that return at least 60%-80% on extras.
Instead of a measly $25, you could get $48 or more back for the same service. And here’s the kicker: these policies don’t have to cost more than what you’re already paying.
I routinely find these policies for my clients and they cost less than the older policies, if you’d like my team to review your policy, click here to book a call.
5. Reconsider That Low Hospital Excess
A $0 or $250 excess might sound great, but if you haven’t been in the hospital in years, it’s probably costing you extra.
Here’s the math:
A $0 excess can add up to $500 to your premium annually.
Over 3 years, that’s $1,500 extra—just to avoid a $500 hospital bill IF you go in on the off chance.
Unless you’re a regular hospital visitor, a $500 excess or $750 excess is usually the smarter choice.
Plus, we have a range of policies that offer $100 or half excess for same day admission (which 8/10 procedures are nowadays) if you’d like our experts to tell you about these options, click here to book a call.
6. Don’t Let Them Get Away with Raising Your Premium Every Year
Every year, health funds quietly bump up your premiums without improving your coverage. If that doesn’t sit right with you, here’s what to do:
Call your fund. Ask for a better deal. If they don’t budge, it’s time to move on.
Most people we’ve switched have saved hundreds each year—and often get better coverage too, if you’d like to shop around, click here to book a call with an expert.
7. Take Advantage of New to Fund Promotions
Here’s a little secret: health funds love new customers.
They’ll offer sign on bonuses like 4 weeks free or waive waiting periods just to get you on board. That’s a whole month of premiums you can pocket while still being protected.
Why not pick up on a promo if its on the table? If you want to check which funds are running promotions this month? click here to speak to a an expert (its free)
Get Started:
You could literally save you thousands of dollars, but It can take hours to find a competitive policy and compare it against your current one.
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Step 1: Click Compare & Save below.
Step 2: Fill out our health insurance questionnaire.
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