Co-author: William Jolly
It’s always best to choose a health insurance policy on the basis it has the features and benefits you need according to your circumstances and preferences. 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 snapshot of some current health insurance sign-up offers for Hospital and Extras Cover from providers rated by Canstar (correct as at April 5, 2018).
Please note the Star Ratings and premiums for the snapshot of policies listed in the table below (with links to providers’ websites) are based on a couple aged under 35 in New South Wales. Use Canstar’s health insurance comparison selector for a wider selection of policies based on your individual circumstances.
|AHM||Join a hospital & extras policy with AHM to receive $200 off (for couples) or $100 off (singles). T&Cs apply.||30/4/18|
|Apia||Take out Apia Combined Hospital & Extras cover and receive $150 back on your policy. T&Cs apply.||1/05/18|
|Budget Direct||Get one month of free health insurance when you buy combined hospital & extras cover. For new members only. T&Cs apply.||30/4/18|
|Bupa||New members joining on combined cover that use ‘Get Bupa’ promo code eligible to receive vouchers worth up to $200. T&Cs apply.
You can also earn up to 80,000 (couples) or 40,000 (singles) Velocity points by joining hospital only or hospital and extras cover. See Bupa for more info.
|CUA||Join CUA directly and get first month free as well as $200 cachback on a hospital & extras policy. T&Cs apply.||30/6/18|
|Frank||Skip two and six month waiting periods on extras when you join on combined cover. T&Cs apply.||30/4/18|
|GMHBA||Skip two six month waiting periods on extras when you join on combined cover. T&Cs apply.||30/4/18|
|health.com.au||Join by June 30 to skip the two month waiting period on extras. For new customers on hospital & extras combinations only. T&Cs apply.||30/06/18|
|HIF||Get $50 back when you use one of the special codes listed on HIF’s blog. T&Cs apply.||No expiry listed|
|Medibank||Join combined hospital & extras cover and get your second month free, no waiting periods for two and six months. T&Cs apply, use the code ‘MARCH18’.
You can also earn up to 100,000 free flybuys points for joining hospital & extras cover, depending on your annual base premium. See Medibank for more info.
|nib||Join any combined hospital & extras policy online and get a $150 JB Hi-Fi eGIft Card. T&Cs apply.||30/4/18|
|St Lukes Health||Join or switch to hospital & extras cover and receive a $100 gift card. T&Cs apply.||30/4/18|
|Westfund Health||Join Westfund on any Hospital, Extras or Combined cover before June 30, 2018 to receive one month free. Use the code ‘OMF2018’ when prompted. T&Cs apply.||30/06/18|
|Source: Providers’ websites. Based on advertised online promotions current as at March 5, 2018. Please note conditions and exclusions may apply to these offers. Read all terms and conditions provided by the relevant health fund.|
Make sure you compare health insurance
Of course, people shouldn’t sign up just for a freebie. If you’re shopping for health insurance, it’s important to ensure you choose 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 sounds great, it’s 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 Western Australia, to $2,181 per annum in Victoria (2017).
There is definitely a choice of outstanding health insurance policies on offer for consumers if they shop around. Canstar’s most recent health insurance ratings considered over 23,000 policy/premium combinations for products provided by 21 health insurers and measured against 497 consumer profiles.