Tight budget? These four overlooked payments could offer you and your loved ones relief

Have you ever wondered if there's money sitting in government coffers that belongs to you or your loved ones?

Well, there might be more than you think. With over $241 million in unclaimed Medicare benefits alone, plus millions more in family payments going untouched.

Whether you're helping your adult children navigate the system or checking your own entitlements, these lesser-known cash boosts could make a significant difference during these challenging times.

Your Medicare money might be waiting

Let's start with something that affects everyone—Medicare benefits.

Over $241 million in unclaimed Medicare benefits is ready to be paid to more than 930,000 Australians who haven't provided their current bank details to Medicare, with the average Australian owed around $260.

Here's what might surprise you: there are also 200 people owed more than $10,000. That's not pocket change by any means.

If you haven't received a Medicare benefit you were expecting, it could be due to missing or outdated bank details on your Medicare account.

Once you update your details, Services Australia will pay your unpaid benefits within three days.

Helping your adult children maximise Family Tax Benefits

If you have adult children raising families, please pass along this tip about the timing of Family Tax Benefit (FTB).

While most families choose to receive their payments fortnightly, there's an option to receive it as a lump sum at the end of the financial year.

This strategy works particularly well if your adult children are expecting pay rises, bonuses, or increased working hours during the year.

These income changes disrupt fortnightly payments and potentially result in overpayments that need to be returned at tax time.

The lump sum acts as a form of 'forced savings', and there's nothing quite like that surprise windfall hitting the bank account come tax time.

The dental benefit many families overlook

Here's where grandparents might find themselves particularly useful.

The Child Dental Benefits Schedule (CDBS) can save families up to $1,132 per child every two years—that's potentially $9,622 in coverage by the time a child turns 17.

The scheme covers basic dental services, including check-ups, x-rays, cleaning, and fillings, for children aged 17 and under.

However, Orthodontics and cosmetic procedures are not covered by the CBDS.

If you're caring for grandchildren or know someone who is, this benefit applies when the carer receives certain government payments.

The challenge? Finding a dentist who bulk bills for CDBS services.

Use the 'find a health service' tool on the Healthdirect website to locate bulk-billing dental providers in your area. You can also submit claims online.

Rent Assistance for new families

If you have adult children starting families, there's another benefit worth knowing about.

When applying for Family Tax Benefit Part A for the first time, families may also be eligible for Rent Assistance if they have dependent children.

This support can provide significant help with household expenses during that expensive transition into parenthood.

The amount depends on individual circumstances, but Services Australia automatically checks eligibility when families apply for Family Tax Benefit.

Making the most of government support

The beauty of most of these benefits is their accessibility through the myGov app, making it convenient to stay informed and help your family navigate the system.

Many seniors find themselves becoming the family's 'benefits detective' - and there's real value in that role.

Remember, Services Australia paid almost $30 billion in Medicare benefits to Australians last financial year, so these programs are substantial and well-established. The unclaimed amounts, while significant in dollar terms, represent less than one per cent of total payments.

Whether you're checking your own entitlements or helping family members claim theirs, these benefits exist to provide financial support when it's needed most.

In times when every dollar counts, it's worth taking a few minutes to ensure you and your loved ones aren't missing out.

For more information about payments and services, visit the Services Australia website or download the myGov app to get started.

Have you discovered any unclaimed benefits recently, or helped family members navigate these systems? We'd love to hear about your experiences in the comments below.