MONEY’S TIPS

Don’t assume couples membership is cheaper. Check costs and extras cover.

Shop around to see if it’s cheaper to have hospital and extras with different providers.

Make sure your policy includes ambulance cover. Not all do and it can vary by state.

Only hospital cover delivers tax benefits. An extras-only policy will not exclude you from the Medicare levy surcharge. If you earn over $90,000 (single) or $180,000 (couple) and want to save on tax, make sure your private health insurance includes hospital cover.

Consider a higher excess or co-payment. (To avoid the Medicare levy surcharge, you can’t have an excess more than $500 if you’re single or more than $1000 for couples/families.)

Ask your fund if it offers a discount for paying by direct debit each month.