These days many health funds give you health insurance rewards when you take out a policy with them. This can include frequent flyer points, discounts on gym memberships, health management courses and money off retail. We've listed some of the perks currently available below (September 2021).
1. Frequent flyer rewards
Some health insurance funds offer frequent flyer points for every dollar you pay in premiums, as well as sign up bonuses. You can use them towards travel and retail, plus most automatically reward you a large amount of points when you sign-up. Here are the biggest funds associated with each rewards program:
Bupa offers Everyday Rewards (Woolworths) when you sign up.
Medibank let's you earn bonus Velocity points as a member.
2. Health and wellbeing rewards
Health insurance policies often include incentives such as discounted access to health-related products and services or benefits that reward members for maintaining a healthy lifestyle. AIA Vitality is probably the best known example, which helps you maintain a healthy lifestyle, and in return rewards you with gym discounts, shopping vouchers or even an Apple watch.
3. Health support benefits
Some health funds are providing practical assistance with health issues in the form of free or discounted access to programs and classes related to specific health issues. For example, Medibank offer members with hospital cover 24/7 mental health and nurse phone services, while Teachers Health offers support like mental wellness and nutritionist sessions for eligible members.
4. Retail rewards and discounts
Lots of health insurers give you discounts on shopping with specific brands and retailers. This can include e-Gift cards, discounted movie vouchers, cash back on flights and hotel bookings you make and money off opticians like Specsavers and OPSM.
Finder survey: What is most important to people when choosing a health fund?
Response
Female
Male
The fund is trusted
36.59%
36.04%
The fund is not-for-profit
14.37%
18.54%
The fund is recommended by my friends or family
13.79%
11.67%
The fund has good online reviews
11.69%
13.54%
The fund is popular
4.6%
8.54%
None of the above
4.02%
7.29%
The fund gives me reward points (e.g. Qantas, Frequent Flyer etc)
4.6%
6.04%
The fund is good for the environment
4.79%
5.42%
The fund is restricted to my industry (e.g. teachers, defence etc)
2.68%
3.13%
Source: Finder survey by Pure Profile of 1006 Australians, December 2023
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$108,001 to $144,000
$144,001 and over
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*Prices updated March 2024, in line with Finder's
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on a single individual with less than $93,000 income and
living in Sydney with a $750 excess.
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Gary Ross Hunter was an editor at Finder, specialising in insurance. He’s been writing about life, travel, home, car, pet and health insurance for over 6 years and regularly appears as an insurance expert in publications including The Sydney Morning Herald, The Guardian and news.com.au. Gary holds a Kaplan Tier 2 General Advice General Insurance certification which meets the requirements of ASIC Regulatory Guide 146 (RG146). See full bio
Gary Ross's expertise
Gary Ross has written 729 Finder guides across topics including:
What are private health insurance loyalty programs and what sorts of benefits can they offer you? Find out here.
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