Healthcare can become a major expense as we age, especially with more regular check-ups, prescriptions and specialist visits. The good news is, there are many ways you can reduce costs while staying on top of your health.
Dental care: plan ahead and shop around
Dental care is one of the biggest out-of-pocket health costs for older Australians, as Medicare generally doesn’t cover routine dental treatment. Delaying visits can lead to bigger, more expensive problems down the track, so it pays to be proactive.
Smart savings tips:
- If you have a Pensioner Concession or Health Care Card, check your eligibility for subsidised or low-cost public dental services in your state.
- Ask your dentist for a written quote and if there are more affordable treatment alternatives.
- Compare providers – fees vary widely between clinics.
- If you have extras cover, make sure you’re using your included dental benefits each year.
Bulk-billing: know your options
Bulk-billing remains one of the simplest ways to reduce everyday health expenses. While bulk-billing availability varies between clinics, there are incentives in place encouraging more GPs to bulk bill older Australians and concession card holders.
Smart savings tips:
- When booking, ask if the clinic offers bulk-billing – especially for concession card holders.
- Consider telehealth, which may be bulk-billed depending on your circumstances.
- Use the government’s health service finder online to locate bulk-billing clinics in your area.
PBS savings: cut prescription costs
With medicines often becoming a regular expense after 60, understanding the Pharmaceutical Benefits Scheme (PBS) can make a big difference.
Key benefits for concession card holders include:
- Lower prescription co-payments
- Safety net thresholds that significantly reduce costs once you hit the annual limit
Smart savings tips:
- Keep a record of your prescriptions so you know when you’re approaching the PBS Safety Net threshold.
- Ask your doctor or pharmacist about generic alternatives – these often have the same active ingredient at a lower price.
- If you’re on multiple long-term medications, speak to your GP about whether they are all still necessary.
Concession cards: check what you qualify for
Concession cards offer valuable savings on medicines, some medical services, transport and more. Depending on your eligibility, you may be entitled to cards including:
- Pensioner Concession Card
- Commonwealth Seniors Health Card
- State-based seniors and health cards
If you haven’t applied, it’s worth checking: even small discounts add up, especially on repeat costs like medication.
Private health insurance: tailor it to your needs
Private health insurance can be helpful, but many over-60s pay for extras they no longer use.
Smart savings tips:
- Review your policy annually – trim cover you don’t need.
- Consider “hospital-only” cover if extras aren’t being used.
- Check whether your insurer has preferred dental or optical providers to reduce gap fees.
- Compare insurers – switching can save money without reducing benefits.
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