You could keep your premiums low by either increasing the excess that you are willing to pay if you are hospitalized, or through reducing your level of cover if it is sensible for you to do so.
Most health funds have policies that offer lower levels of cover through imposing restrictions or exclusions on them that in turn result in a lower premium.
You have the ability to take out a hospital cover with one fund and a general treatment (extras) cover with another fund.
We recommend that you shop around. There are many registered health funds and policy combinations in Australia, with an array of premiums for you to chose from.
We suggest that you tailor your health insurance to your needs so you aren't paying for what you don't need.
iSelect has recently reviewed what Australian's are paying in additional tax related to private health insurance. A report released by the Australian Taxation Office has shown that people without private health cover are paying on average an extra of around $630 a year in tax through the Medicare Levy Surcharge. (Source: ATO Tax Statistics, 2007)