Have you turned 31 in the last year and need hospital cover? Start adulting and save with these EOFY deals.
With June underway and the end of financial year looming, it's that time of the year when gungho health funds try to reel in the latest batch of 31-year-olds. Why? As with television, it's good to hook them while they're young. A recent finder.com.au survey found that the average Australian stays with their health fund for 11.8 years.
Health funds also know once you turn 31 you're hamstrung by the Lifetime Health Cover (LHC) loading, which means not having hospital cover from 1 July will raise your premiums by 2% for every year you don't have cover. This means that if at 41 you decide you want to take out private health insurance, you'll be paying an additional 22% more than if you'd taken out cover at 31.
To help you forget the fact you're now 31 and that health insurance is now being foisted upon you, health funds offer all manner of EOFY deals and discounts to secure your membership.
Below is the roundup of what some of Australia's major health funds are offering in the way of EOFY health insurance promotions.
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