You and your partner probably share a lot with each other, but should you share health cover?

Many Aussies may take out a couples policy with one insurer because it's easier to manage but actually end up overpaying, while others may be paying unnecessarily high premiums or missing out on tax savings by sticking to individual policies.

Taking a few minutes to compare couples and singles policies can mean better savings for you both, and probably better healthcare as well.

Paying too much?

Australia: We saved our average customer $300* on their average annual premium! Select your age below and see how much you could save!

Just meMe and my partnerMy familyMe and my kid(s)

Should we get a couples policy?

With a couples policy, you and your partner can be covered under the same fund, with just one premium to pay between you.

Remember, both partners have to be on the same level of cover.

Benefits:

1. Insurers often create packages for different age groups -- from young couples to empty nesters.

2. Your joint premium may cost less than two singles premiums.

3. You'll only have one account and one premium to pay.

4. You could get a better government rebate. Singles earning over $93,000 can't get a full rebate, but for couples this threshold goes up to $186,000.

5. Couples health cover can mean you're able to level up your hospital cover.

Potential issues:

1. Couples who have very different health needs may find a single policy doesn't adequately cover both sets of health needs.

2. If your partner has a high Lifetime Health Cover loading (an additional tax is they first took out hospital cover after age 31), you'll have to pay the average of your two LHCs.

Choose your life stage.

I’m looking at health cover for…

Just meMe and my partnerMy familyMe and my kid(s)

Choose your life stage.

I’m looking at health cover for…

Just meMe and my partnerMy familyMe and my kid(s)

Should we get two singles policies?

If you have very different health needs, it may make more sense to take out two separate policies.

Benefits:

1. If your partner has a high LHC loading, you can avoid this cost for yourself.

2. If you're considering any pregnancy and birth-related cover, one of you can take out a top tier cover that includes this, and the other partner can take out a cheaper policy to balance your household budget.

3. If your partner needs a higher tier policy, it can work out cheaper for you to take out Basic hospital cover, or even an Extras only policy.

Potential issues:

1. Taking out two similar policies can be more expensive than one premium for your couples cover.

2. You'll have to manage two separate policies.

Whether or not it's cheaper to take out two singles policies depends on your, and your partner's specific health needs, but it's worth exploring every option you can to save money on your health cover#.

Over the last 5 years, Compare Club’s experts saved Aussies an average of $300* on their annual health cover premiums. It’s what we do best - and we’re the most trusted comparison service in Australia. How much can we save you?

This article is opinion only and should not be taken as medical or financial advice. Check with a financial professional before making any decisions. #Compare Club compares selected products from a panel of trusted insurers. We do not compare all products in the market. *Savings based on 136,746 customers between 1 Jan 2018 - 23 December 2022.