Health insurance hacks: Get the most out of your cover in 2024
Maximise the benefits you get from your health insurer with these tips.
Sponsored by ahm. As one of Australia's largest health insurers, ahm offers straightforward health insurance cover with flexible limits on extras.
Finder research has found that health insurance costs have increased by 204% since 2000. So you want to ensure you're getting as much value as possible.
Today, we show you some hacks to enhance the value of your health insurance in 2024.
Learn more about health insurance with ahm
1. Skip the waiting period
One of the ways you can score additional value on your extras is by looking for a provider that skips waiting periods.
Most health insurers have some kind of waiting period on their extras services. However, by shopping around or potentially even switching insurers, you may be able to find a provider that reduces waiting times or removes them altogether.
Some of ahm's covers do not have waiting periods for certain services like optical, general dental and physio (lifestyle, family and super extras cover only).
With this in mind, signing up with a new health insurer can be a great opportunity to get on top of your healthcare needs.
2. Check your ambulance cover
You may not have been aware, but Medicare doesn't actually cover the cost of an ambulance! If you live in Queensland or Tasmania, the state government covers certain costs, though not necessarily all of them.
ahm's ambulance cover is included with all ahm Extras products. It's got a one-day waiting period, but otherwise it can be used almost straight away.
Looking for inclusions like this can be an excellent way to enhance the overall value you're getting from a policy.
3. Look at existing expenses you can claim
We tend to think of health insurance as being for covering costs for procedures. But some insurers will also pay towards, or provide discounts on, other expenses, particularly if they're intended to keep you healthy.
Let's take a look at ahm as an example. Some of ahm's membership perks include discounted gym memberships, savings on prescription glasses and a range of other benefits.
So it's always worth looking at what kind of health-related expenses you have, and then checking your policy to see if they're currently covered or discounted. This can add up to significant savings over time.
4. See where you can score discounts or rebates
Aged 18-29? You could get a Youth Discount of up to 10% on your hospital cover or the hospital part of your packaged cover. Lots of health insurers offer this, including ahm and it's a great way to make health insurance more affordable for young adults.
If you're under 31, you can sometimes benefit from cheaper premiums than if you take out health insurance for the first time after you turn 31. This affects hospital cover specifically; the cost of extras won't be affected.
Additionally, when you take out health insurance, you may be eligible for a rebate to reduce your premiums or that is payable at tax time. This will vary from person to person, so make sure you consult the ATO website and your finance professional for more information.
Learn more about extras with ahm
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