Claim your extras benefits before they reset

Posted: 20 June 2019 6:52 am
News

Woman covering mouth to hide surprise

Are you with one of the five funds whose annual limits reset in 10 days?

As the end of financial year looms and you're trying to make sure everything is in order for your taxes, health insurance might be on your mind. While this is probably in regards to either the Lifetime Health Cover (LHC) loading or the private health insurance rebate, one health insurance related item is often overlooked: your extras annual benefits.

While annual benefits for most funds in Australia reset with the new year, there are a baker's handful (not a thing but go with it) whose benefits either end on 30 June or reset on your policy's anniversary. So if you have extras cover through any of the following, now is a good time to go out and use those benefits before they reset on 1 July:

Fund When extras reset Find out more about fund
1 July
1 July
1 July
1 July
1 July

Queensland Country Health Fund is the lone fund whose benefits reset on the anniversary of your policy.

If you are with one of these funds and are considering switching, now is a good time to make sure you've used all your benefits up before making the switch. This way you'll be "doubling down" on the amount you can claim on your extras treatments during 2019. Not only that, June is a great time to be looking for cover.

The end of financial year is one of the busiest times for health funds, with 30 June being the cut-off for those who've turned 31 in the last year to take out cover or get slugged with LHC when they take out health insurance in the future.

Because of this, many health funds try to win potential members with the promise of waived waiting periods, gift cards, free months of cover and more. If you are in the market for health insurance and are looking for something to sweeten the deal, we've found 24 EOFY health insurance deals available in 2019.

Compare your health insurance options today

Latest health headlines

Picture: Getty Images

You might like these...

Ask an Expert

You are about to post a question on finder.com.au:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com.au is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms of Use, Disclaimer & Privacy Policy and Privacy & Cookies Policy.
Ask a question
Go to site