# 5 Hacks to Save Money on Your Family Policy –

- Link: https://stayathomemum.com.au/work-money/money/save-money-on-your-family-policy/
- Published: 2021-03-26T09:00:11+11:00
- Author: Clare Whitfield

## _There’s no doubt that many Aussie families are still feeling the financial hangover from the peak of the COVID-19 pandemic._

> So, when we hear that [private health insurance](https://www.iselect.com.au/health-insurance/)
> premiums are increasing (yes, again!) on April 1^(st )by an extra $127 a year 
> on average for families, we don’t blame you if you want to stick your head in 
> the sand and pretend it’s not happening.

However, the reality is that sticking your head in the sand could result in paying
more than you need to and in recent times, who can afford that? Or even if you do
have extra cash to spare, you would probably much rather it go towards a family 
holiday rather than to your health fund. [⌊Insurance policy document on wooden table⌉ ](https://i0.wp.com/stayathomemum.com.au/wp-content/uploads/2021/03/iselect_bill.jpg?quality=89&ssl=1)
Never fear, there are a few handy hacks you can pull to find yourself better value
on your private health insurance ahead of the April 1 rate rise. So, let’s rip this
off like a band-aid so you can get back to more exciting things like browsing flights
for your family’s next winter escape.

### **Top 5 hacks to help you save money on your private health insurance**

> **Opt for a higher excess ** A great way to decrease the cost of your premiums
> is to opt for a higher excess on your policy. If you think you or your family 
> is unlikely to be admitted into hospital in the near future, increasing from the
> hospital excess on a family policy from $1000 to $1500 could save you money off
> your premium. However, remember that if you or a family member is admitted to 
> hospital, you will need to cough up that higher excess so you need to weigh up
> what is likely to work best for your situation.

[⌊Woman enjoying coffee by the window in a cozy living room setting⌉⌊Woman enjoying coffee by the window in a cozy living room setting⌉ ](https://i0.wp.com/stayathomemum.com.au/wp-content/uploads/2021/03/ISELECT_expecting-mum.jpg?quality=89&ssl=1)

> **[Look for discounts & freebies](https://au.wowfreebies.com/) ** This time of
> year, many funds offer discounts and incentives for new members. For example some
> offer free airline points, eGift cards, weeks free, discounts off premiums and
> some even offer free dental check-ups or waive excesses for kids going into hospital.
> So if you were thinking of switching, then now is a great time to do it but it’s
> important, to view these freebies as purely an added bonus and don’t let them 
> distract you from choosing a policy suitable for your family in the long-term.**
> Make the most of preventative health benefits ** You’d be surprised at some of
> the [Extras](https://www.iselect.com.au/health-insurance/hospital-and-extras-cover/compare-extra-cover/)
> available to you that could help enhance your lifestyle and help prevent future
> health issues. For example, some funds offer discounts on things like medically
> necessary swimming lessons, weight loss courses, gym memberships and even money
> back on things like hats and sunscreen.

**[⌊Family planning budget on laptop for saving money on family policies⌉⌊Family planning budget on laptop for saving money on family policies⌉ ](https://i0.wp.com/stayathomemum.com.au/wp-content/uploads/2021/03/ISELECT_couple.jpg?quality=89&ssl=1)**

> **Pre-pay & save** If you are in a position to do so, pre-paying your annual premium
> upfront for the full year before April 1 will lock in your current rate and could
> help you avoid the 2021 premium increase for another 12 months. **Don’t’pay for
> things you don’t need**” – Not regularly reviewing your policy means you could
> be paying for things you don’t need or not be covered for what you’actually need.
> Health insurance comparison website, [iSelect](https://www.iselect.com.au/health-insurance/hospital-and-extras-cover/compare-extra-cover/),
> recommends reviewing your policy whenever your life stage, health needs or financial
> circumstances change.” – For example, if your baby making days are well behind
> you, check that you’re not still paying for pregnancy.

If the rising cost of private health insurance has you considering dropping your
cover all together, we hear you! It can feel overwhelming in recent times however,
there are other options out there and it is possible to [switch to a similar level of cover](https://www.iselect.com.au/health-insurance/hospital-and-extras-cover/compare-extra-cover/),
for a cheaper price with a different fund. So before you consider jumping off the
health insurance boat all together, consider if simply ‘jumping ship’ to another
policy or fund is a better alternative to keep your family protected and provide
you with that priceless peace of mind. And potentially, a little extra cash toward
those holiday flights! Based on weekly calculations included in Minister’s media
release: [https://www.health.gov.au/ministers/the-hon-greg-hunt-mp/media/lowest-private-health-insurance-premium-change-in-two-decades](https://www.health.gov.au/ministers/the-hon-greg-hunt-mp/media/lowest-private-health-insurance-premium-change-in-two-decades)
[⌊Woman enjoying coffee while looking out window promoting family policy savings tips⌉ ](https://i0.wp.com/stayathomemum.com.au/wp-content/uploads/2021/03/5-Hacks-to-Save-Money-on-Your-Family-Policy-.jpg?quality=89&ssl=1)

![author avatar](https://i0.wp.com/stayathomemum.com.au/wp-content/uploads/2025/
12/clare_whitfield_profile.webp?quality=80&ssl=1)

 Clare Whitfield Chief Editor

 Clare Whitfield is the Editor of Stay at Home Mum and a recognised voice in practical
home management for Australian families. Based in the northern suburbs of Sydney,
she balances editorial leadership with life as a stay at home mum to two school 
age children. Her background in home economics and more than a decade of experience
in recipe development, family budgeting, and household systems inform her work.

 [See Full Bio](https://stayathomemum.com.au/author/clare_whitfield/) [  ](https://stayathomemum.com.au/author/clare_whitfield/)