Looking to save? Check out these deals from Australian health funds for April 2018.
To save you the hassle of scouring the internet for these offers finder.com.au has done it for you. Choose from a selection of limited time offers from well-known Australian funds that add additional value to your health insurance purchase. Happy hunting.
Health insurance deals from participating funds for April 2018
|Up to $200 off couples and families and $100 off singles combined policies in April.||
|Offer available for new combined policies that pay via direct debit.||
|2-month extras waiting periods waived when you sign up for a combined policy||
|Plus go into the draw to win an Apple Watch.||
What else can I do to save on health insurance?
Don't get hit with the Medicare Levy Surcharge
Depending on how much you earn, if you are not covered by private health insurance you're going to have to pay 1% to 1.5% tax towards the Medicare Levy Surcharge (MLS).
The good news is that you can easily avoid the MLS by purchasing a policy to save money. Even better, some health funds offer cover that costs less per year than the amount taxed. Some of these are outlined below:
|AHM||Lite Cover||$500 excess on hospital items||More info|
|Australian Unity||Basic Hospital||$500 excess||More info|
|BUPA||Active Saver||$100 Copay||More info|
|GMHBA||Bronze Hospital Options||$500 excess||More info|
|NIB||Kickstarter||$500 excess||More info|
|CUA||Public Hospital Cover||No||More info|
|Defence Health||ADF Essentials Package||$200||More info|
|Defence Health||Essentials Hospital||$200||More info|
|Doctors Health Fund||Smart Starter||$500 excess||More info|
|Frank Insurance||Basic Hospital||Admission excess per person $500 per year||More info|
|HBF||Super Saver Hospital||$500 excess||More info|
|GMF Health||Lite Hospital||$500 excess||More info|
|RT Health||Single Cover Public Hospital||$500 excess||More info|
*Disclaimer: Quotes for Tier 1 single male, under 30, living in NSW. Prices were accurate when this article was published but are subject to change and should be used as a general guide only.
Avoid the Lifetime Health Cover loading
The Lifetime Health Cover (LHC) is a government initiative designed to encourage young people to get private health insurance. It adds a 2% loading on top of your premium for every year you fail to take out cover after you turn 31 until it caps at a maximum of 70%. For example, if you sign up at 45 you'll pay 30% more than someone who joined up at the age of 30.
How else can I reduce my health insurance costs?
Sometimes, you can take advantage of discounts that are available in certain situations:
- Corporate policies. Check with your employer to see if they offer corporate health insurance. Corporate sector discounts of up to 12% are often granted by health funds, which are then passed onto employees in the form of cheaper policies.
- Family policies. Many health funds offer incentives for families, such as no hospital admission excess for children, no-gap dental and allowing you to keep your child on your policy until they turn 25 (if they are studying full time).
- Single parent policies. Health funds have been allowed to provide single parents with a reduced premium compared to the family rate since 2007. If your fund does not offer a reduced rate, consider moving to another fund that does.
- Annual and direct debit discounts. Look for a fund that rewards you for prepaying your premiums or having them direct debited out of your account.
|Fund||Direct debit discount||Annual payment discount|
Compare quotes from 30+ health funds to see which one is right for you
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*The offers compared on this page are chosen from a range of products finder.com.au has access to track details from and is not representative of all the products available in the market. Products are displayed in no particular order or ranking. The use of terms 'Best', 'Top' and 'Cheapest' are not product ratings and are subject to our disclaimer. You should consider seeking independent financial advice and consider your personal financial circumstances when comparing products.