When choosing a health insurance policy, it’s important to also consider the features and benefits you need for to your circumstances and preferences, as well as the cost of your premium. However, if you can find the right outstanding value health insurance policy with a sign-up bonus, it could be a win-win.
Here’s a selection of some current health insurance sign-up offers for Hospital and Extras Cover from providers rated by Canstar (correct as of February 5 2019). We’ve also displayed a snapshot of policies available from these providers.
Please note the Star Ratings and premiums for the snapshots of policies listed in the tables below are based on a couple born in January 1990 in New South Wales who do not want pregnancy cover. Before committing to a particular health insurance policy, check upfront with your insurer and read the PDS to confirm the sign-up offer details and whether the policy as a whole suits your needs. Use Canstar’s health insurance comparison selector for a wider selection of policies.
Take out hospital cover by 28 February and get either a $100 (singles/single parents) or $200 (families) gift card. T&Cs apply.
|Bupa||Get six weeks free (after your first month of payment) and a two or six-month waiting period on extras waived when you take out combined hospital and extras cover. T&Cs apply.||28/02/2019|
|CBHS Corporate Health||Join or switch to hospital and extras cover and get your two or six-month extras waiting period waived. T&Cs apply.||15/04/2019|
|CUA||Get a 4% discount if you pay by direct debit from a CUA Everyday Account. T&Cs apply.||None listed|
|frank||Get 2 & 6-month waiting periods on extras waived when you take out combined hospital and extras cover as a new member.||14/02/2019|
|GMHBA||Get 2 and 6-month waiting periods on extras waived when you join combined cover.||28/02/2019|
|hif||Get a $150 cash card when you take out combined hospital and extras cover. T&Cs apply.||28/02/2019|
|Medibank||Get either a $200 (singles/single parents) or $400 (couples/families) adidas e-gift card and a 2 or 6 month waiting period on extras waived when you join combined hospital and extras cover. T&Cs apply.||28/02/2019|
|nib||Join any combined hospital and extras policy online and get your two or six-month extras waiting period waived. T&Cs apply.||28/02/2019|
Get a month free (after 60 days) when you join any hospital, extras, or combined policy. T&Cs apply.
Source: Providers’ websites. Based on advertised online promotions current as at February 5, 2018. Please note conditions and exclusions may apply to these offers. Read all terms and conditions provided by the relevant health fund.
Other factors to consider when comparing health insurance
Of course, it may not be worth choosing a health insurance provider just for a freebie. If you’re shopping for health insurance, it’s important to look for the hospital and/or extras policy cover that is right for your own needs and preferences.
After all, while a gift card or a month of free cover might be handy, it could be a small token in terms of the overall cost of health cover. Canstar Research found the average annual premiums for a hospital and extras package cover for a young single person range from around $1,411 in the Northern Territory to $2,181 per annum in Victoria (2017).
There is definitely a choice of outstanding health insurance policies on offer for consumers who choose to shop around. Canstar’s most recent health insurance ratings considered around 10,918 package policy combinations for products provided by 24 health insurers and measured against 476 consumer profiles, with four different insurers winning at least one state or national award..