Millions in new perks available through private health funds

Deanna Wolfgang has saved thousands on shopping sprees by using the perks attached to her health fund account - and so can you.

The newlywed strategically chose where she spends her money picking the stores that tap into Bupa's loyalty perks.

"The most exciting part of it for me is that I can save on everyday necessary expenses," Wolfgang said.

READ MORE: Baby sling recalled over suffocation risk

"I have managed to save about $3700 ... well and truly covered more than a year's premium for my health insurance."

Medibank members saved $25 million through the fund's perks program last financial year, while Bupa and HCF delivered more than $5 million in savings.

New deals are on the table this year with insurers teaming up with airlines and holiday sites.

Bupa is offering a 5 per cent deal on Airbnb bookings and up to $200 off domestic Emirates flights.

HCF is giving members up to 10 per cent cashback on booking.com.

Medibank is offering members 20 per cent off Fitness First memberships.

Meanwhile, NIB is offering 3 per cent off groceries from Coles and Woolworths using e-gift cards.

The new benefits can go some way to offsetting the impact of price hikes set for April, with the exact percentage yet to be announced.

READ MORE: WA public transport tap-on delay hits 18 months

Private health insurance consultant Sean Gath says this is a particularly unusual year for health funds.

"Insurers are asking for an increase that reflects actual inflation in the industry ... and the minister is dealing with a public that for the last six or seven years have had increases that are more or less in line with general insurance," he said.

The government is expected to reach an agreement on an increase in the next couple weeks.

"I think [the federal minister] is pushing them for something that's going to come in more around four, something with a four maybe, which will still be a bit of a shock for many consumers," Gath said.

An increase of 4 per cent means an extra $184 added to the average silver policy for a family.

However, there are other ways to save, including switching providers.

READ MORE: WA public transport tap-on delay hits 18 months

9News Money Editor Effie Zahos says those looking to change providers should do it in March or June.

Those are the peak periods for funds when they try to win business by waiving waiting periods or offering sign-up deals.

Customers can also check if they can downgrade their coverage.

According to Canstar data, a single moving from gold to silver hospital cover can save $1414, while going from silver to bronze can save $383.

Customers should also take a look at their extras.

A single paid $662 on average for their extras cover, while the average benefit was just $456, unlike dropping hospital cover, dropping extras won't attract any tax penalties.

Membership perks change often so keep up to date with what discounts are available through your health provider.