HOW YOU CAN SAVE You can save money on health insurance if you take it out sooner rather than later! If you’re privately insured before June 30 of the year you turn 31 you will be on the lowest premium rate for life. From the age of 30 you will have to pay an extra 2% for every year you remain uninsured - so if you wait until you’re 40 to take out private health insurance you’ll pay an extra 20% and if you wait until you’re 45 you’ll pay an extra 30%.