The best end of year deals from health insurers
With the spiralling cost of private health insurance, the dwindling rebate and the growing number of Australians opting out, health funds have pulled out a range of sweeteners to sign up new members before the end of the financial year.
From gift cards worth up to $500 to 120,000 frequent flyer points and six weeks free, private health funds appear to be better at enticing new members than looking after their loyal ones.
And the inducements come as those who don't have adequate cover face being slugged the Medicare Levy Surcharge, adding up to 1.5 per cent to their tax bill.
CUA is offering gift cards worth up to $500 for a combined hospital and extras policy while BUPA is offering 120,000 Velocity Frequent Flyer points for couples and families who take up ultimate health cover.
Singles receive 60,000 points.
Qantas Insurance is offering 100,000 frequent flyer points on sign on plus two points for each dollar value of the premium each month.
NIB is giving away a $200 VISA egift card for those who sign up online while HIF, TUH and health.com.au are giving away $100 gift cards.
It's standard at this time of year for health funds to waive two and six-month waiting periods and most are doing that.
Laura Crowden from iSelect said while there are usually quite lucrative offers available at this time of year, there seem to be more than usual.
But she warned about being sucked into offers that could actually end up being more expensive over the longer term, giving you cover you don't need or not giving you cover you do.
The deals come as premiums went up by an average 3.25 per cent in April.
Most offers end June 30, although some continue into July.
2 & 6 month waiting periods waived on extras for combined policies
$200 Visa eGift Card (online only)
6 weeks free on eligible hospital & extras cover. Plus, 2 & 6 month waits on extras waived.
6 weeks free plus 2 & 6 month waiting periods waived on selected extras
Join Bupa on Ultimate Health Cover and you could receive 120,000 Velocity Frequent Flyer Points for Couples and Families or 60,000 Points for Singles* to put towards your next holiday.
6 weeks free (online only) plus 2 & 6 month waiting periods waived on extras for combined policies
Enjoy 2 Qantas points for each $1 value of your premium every month.
Plus, earn up to 100,000 sign on Qantas Points and skip the 2 & 6 month wait periods for Extras with combined Hospital and Extras cover.
$100 cash card for any combined policy
Up to $500 eGift card for any combined policy
Receive a $100 EFTPOS card when signing up to hospital only, combined, or extras only policies
Optical and 2 month waiting period waiver on extras for combined policies
2 month waiting periods waived for new customers on extras for combined policies, $100 eGift Card
1 month free plus 2 & 6 month waiting periods waived on extras for combined policies
Join GMHBA and receive one month free on hospital only, combined, and extras only policies
Receive 6 weeks cash back on hospital only and combined policies
6 weeks free
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