9 simple ways to lower the cost of private health insurance

Published March 2026 | 3 min read
Words by Angela Tufvesson

Key takeaways

• With a few small changes, you may be able to reduce the cost of private health insurance and make your cover better suited to your needs.
• Look at the parts of your cover you use and those that might be less relevant at your current stage of life.
• Consider increasing your excess and paying premiums 18 months in advance.
• Check if it’s worthwhile switching to a couples policy from a singles policy.
• Use HCF’s No-Gap provider network and the HCF Thank You app.

Worried about the cost of private health insurance? Discover practical ways to save while still getting the benefits you need.

As everyday expenses continue to climb, many Australians are looking for practical ways to get more value from the services they rely on most. Private health insurance is one area where understanding what’s included – and how it affects what you pay – can help you feel confident you’re managing the cost of private health insurance effectively.

Want to find out how to save on private health cover? Try these simple strategies.

1. Review what you do and don’t use

Take a moment to review the parts of your cover you actually use and those that may no longer suit your stage of life. Removing services you don’t need – like pregnancy or orthodontics – can help make your health insurance cheaper. It’s also worth checking your extras claims regularly to see which services you use most and whether there are any you could do without, so your cover stays tailored to your needs. We can help you do this. Chat with us online or call 13 13 34 to speak to our team.

2. Increase your excess

Choosing a higher excess – up to $750 for singles and $1,500 for families – can help to lower your monthly premiums. A higher excess can be a good option if you don’t expect frequent hospital visits. But be mindful this means you’ll pay more if you need to make a claim for a hospital admission.

3. Pay your premium up front

HCF is one of the few health insurers that lets you pay your premium up to 18 months in advance and lock in the rate from the date of payment. Paying ahead can make it easier to manage your annual health insurance cost and plan your budget, while still enjoying the full benefits of your cover.

4. Check if you’re eligible for a rebate

The private health insurance rebate is income tested, and the income thresholds change each year on 1 July. If you’re eligible, the rebate can reduce the cost of private health insurance by lowering your overall premium, making your cover more affordable.

5. Earn HCF dollars to pay your premiums with the HCF Thank You app

The HCF Thank You app makes it easy to earn rewards while you shop and can support you to pay your monthly premiums^*. Earn HCF dollars when you shop at participating retailers, with 1 HCF dollar equalling $1 AUD. Once your balance reaches 20 HCF dollars, you can convert your HCF dollars into an HCF Digital Prepaid Mastercard, an e-Gift card from eligible retailers or use the funds saved to help offset the cost of your health cover premiums^{^}.

6. Use our No-Gap provider network

For extras like dental, optical and physio, you could get 100% back⁺ on a range of services through our nationwide No-Gap network. Use our Find a Provider tool to locate participating dentists and physios, and reduce your out-of-pocket costs.

7. Understand hospital costs

Our cost indicator tool helps you get an idea of the average cost of common hospital procedures. The tool also shows how your choice of doctor and hospital can affect these costs, helping you plan ahead and make informed decisions.

8. Switch to a couples policy

Is couples health insurance cheaper? The Lifetime Health Cover loading adds 2% on top of your premium for every year you’re aged over 30 and haven’t got hospital cover. If one partner has a higher Lifetime Health Cover loading than the other, combining policies may reduce the average loading applied to the policy, which can lower the overall premium while keeping the same level of cover.

9. Downgrade or swap services

If your health needs change, downgrading your cover can be a practical way to manage your premiums. For example, if you have HCF hospital cover, you might switch from a gold to silver policy, or from bronze plus to our new bronze, which is great for healthy members who don’t need pregnancy or dental surgery cover. When it comes to extras, Choose My Extras lets you select four extras services and swap them as your needs change^#.

Get in touch

Want to find out if you could be paying less for your health cover? Don’t hesitate to contact us and we can talk through your options. Either chat with us online or call 13 13 34 and speak to our team.