Deanna Wolfgang has discovered significant savings through the rewards associated with her health fund, Bupa. By strategically selecting stores that participate in these loyalty benefits, she has saved approximately $3,700, effectively covering more than a year’s worth of health insurance premiums. Other health funds are also offering generous savings; for instance, Medibank members saved $25 million last financial year, and Bupa has introduced deals such as 5% off Airbnb bookings and discounts on Emirates flights.
As price hikes are anticipated for health insurance premiums in April, with estimates around 4%, consumers are urged to explore various ways to save. Switching providers can lead to substantial savings, especially during March or June when many health funds offer enticing sign-up bonuses. Additionally, downgrading coverage can yield impressive savings; for instance, moving from gold to silver hospital cover can save individuals around $1,414.
It is vital for consumers to stay informed about available discounts and to periodically review their extras cover. With the average extras cover costing $662, while benefits dip to $456, dropping this cover incurs no tax penalties. In short, leveraging health fund benefits and staying aware of discounts can lead to considerable savings.