Interested in taking out nib Health Insurance? Compare nib policies and apply for cover.
nib is one of Australia’s fastest growing health funds. nib Health Insurance provide health and medical cover to over one million Australian and New Zealand residents. Private health insurance provides more health care options than Medicare, and is an investment in peace of mind. Keep reading to review nib Health Insurance and find out if it's right for you.
nib Health Insurance options
nib offers Hospital and Extras cover for singles, couples and families, with four levels of Hospital cover including Basic, Standard, Advantage and Top. nib also offers two levels of Extras cover: Top Extras and Core Extras (which can be tailored to your needs).
- Basic Hospital includes treatment for accidental injury, ambulance, appendix, tonsils and adenoid removal, colonoscopies, dental surgery, gastroscopies, treatment for ear infections, gynaecological services, hernia repair and joint investigations and reconstructions.
- Excludes back surgery, brain surgery, obesity surgery, heart procedures, stroke treatment, cancer treatment, eye treatments, joint replacements, renal dialysis, IVF, infertility investigations, pregnancy and birth services and cosmetic surgery.
- Standard Hospital includes everything offered in Basic Hospital cover plus brain surgery, cancer treatment, heart procedures and stroke treatment.
- Excludes back surgery, obesity surgery, eye treatments, joint replacements, renal dialysis, IVF, infertility investigations, pregnancy and birth services and cosmetic surgery.
- Advantage Hospital includes everything covered in Standard Hospital cover plus back surgery, eye treatments, joint replacements and renal dialysis.
- Excludes obesity surgery, IVF, infertility investigations, pregnancy and birth services and cosmetic surgery.
- Top Hospital includes everything covered in Advantage Hospital plus IVF, infertility investigations, obesity surgery, pregnancy and birth services.
- Excludes cosmetic surgery.
nib also offers two levels of Extras cover; Core Extras and Top Extras. Core Extras is basic extras cover (dental, optical, physio and ambulance) which you can add bundles to in order to create the best package for your needs. You can add up to two extra bundles to your Core Extras from three different categories including Family, Wellbeing and Young at Heart.
- Family Extras – this bundle adds extras that would be useful to a typical family and includes orthodontia, speech pathology, podiatry, orthotics, occupational therapy, antenatal and postnatal services, family health aids and preventative tests.
- Wellbeing Extras – this bundle adds extras suitable for those seeking to maintain a healthy lifestyle. They include chiro, osteo, natural therapies, dietary advice, psychology, wellbeing health aids, preventative tests and a healthier lifestyle benefit.
- Young at Heart Extras – this bundle contains extras most useful for those wanting to maintain their health in later life. They include podiatry, orthotics, dietary advice, pharmaceutical prescriptions, hearing aids, preventative tests and young at heart health aids.
For those wanting premium extras, nib’s Top Extras provides the ultimate cover. It includes an extensive range of extras with higher annual limits including ambulance, dental, optical, physio, antenatal and postnatal services, chiro, osteo, dietary advice, exercise physiology, eye therapy, top health aids, a healthier lifestyle benefit, hearing aids and speech processors, home nursing, natural therapies, occupational therapy, orthodontia, pharmaceutical prescriptions, podiatry, orthotics, preventative tests, psychology and speech pathology.
What exclusions apply to nib cover?
With any policy there will be exclusions involved but it is always good to make sure that your health insurance doesn’t exclude something you need. Some of the exclusions from nib’s health cover are:
- Any service listed as Excluded on a Customer’s Policy
- Any Hospital Excess
- Pharmaceuticals available under the PBS
- Services rendered in a nursing home
- Respite care
- Special nursing.
How much does it cost?
The cost of nib’s Health Insurance depends on a number of factors such as:
- The cover option you select. The amount of money you pay depends on what cover option you select. If you select singles health insurance then you will pay less because you are paying to cover one person. Couples is almost doubled because you are paying for two people and family health insurance is the most expensive because you are paying for your whole family.
- What level of cover you select. The level of cover you select will impact the amount you pay. nib’s basic hospital cover is the cheapest form of cover because it covers the smallest amount of in-hospital treatments. The higher level of cover the more you pay and the more you are covered for.
- What Extras you select. The additional extras you select will also add to the cost of insurance. The cost will go up depending on how many you choose.
- Hospital Excess. nib has two different levels of hospital excess, $250 or $500. The amount of excess you pay will reduce the amount that you pay for your insurance per week.
What excesses apply to cover?
An excess charge is the amount that you pay towards the cost of your stay in hospital before any benefits are payable by nib. With nib there are two levels of excess you can choose, $250 or $500 per person. The number of times that you pay excess per calendar year is determined by your policy. The less excess you pay the more your premium will be. Most hospitals expect that you pay your excess before admission into the hospital. Something to be aware of is that nib doesn’t cover hospital excess and neither does Medicare
How to save on your policy
- Choosing the right cover for you. Tailor your policy to your specific health requirements, then you are less likely to be paying for cover that you don’t need.
- Medicare Levy Surcharge. Rather than paying the Medicare Levy, people earning over the threshold can spend it on their private health care.
- Having Health Insurance saves you money. While paying a weekly fee may seem costly at the time, if you actually do get sick, health insurance will help reduce the cost of hospital fees and may save you money in the long run.
Making a Claim
To make a claim with nib, you will need to fill out a claim form that is available on v’s website or in one of nib’s Retail Centres. After the form has been filled out and any necessary documents have been attached you are required to mail the form to nib or you can take it into one of their retail outlets. Alternatively if you sign up to an online account with nib then you can quickly and easily make your claim online. nib has also recently released an nib iPhone, iPad & Android app that allows you to submit your claim via your phone. All you have to do is take a photo of your medical receipts and submit them to nib through the app.
Get the nib claims app
Is there an option for overseas visitors?
nib offers a health insurance option for overseas students and working visitors through a wholly owned subsidiary company called IMAN Australian Health Plans. IMAN offers a range of different covers for working visitors, these include: Budget, Value, Basic, Mid and Top Visitor Cover. There are a number of different benefits that their cover offers:
- It meets the Department of Immigration and Citizenship (DIAC) working visa requirements
- You won’t pay any hospital Excess
- It covers ambulance and medical repatriation cover
- They will provide you with a confirmation of health cover letter
- It covers 100% of the cost of private and public hospitals.
Are there any additional benefits?
nib offers a 30-day guarantee to all of their new customers. This means that if you aren’t happy with your cover they will refund your premiums as long as you contact them within the first 30 days of signing up and you haven’t already made a claim. Not to mention nib is a well-known health fund with a good reputation, which will give you confidence knowing that your health is in good hands.
Compare nib product with the help of an adviser
There are many benefits to having health insurance, and choosing the right cover for you is very important. nib’s health insurance has a range of options that have been well crafted to provide their customers with cover for the things they need and not the things they don’t. With nib your dollar will go further and by tailoring your policy to your needs you will get a lot out of their policies.
How does nib scale its claim payments on treatments?
The benefit members receive from nib will vary depending on the medical service they claim for, with the amount paid increasing with the severity of the condition or complexity of the procedure.
Below you can see how nib scales its payments on 22 commonly claimed for medical services, and includes Medicare's (MBS) benefits for comparison:
|Basal Cell Carcinoma or Squamous Cell Carcinoma removal from nose, eyelid, lip, ear, digit or genitalia||$221.35||$296.90|
|Breast, benign lesion surgical biopsy of excision||$260.05||$348.80|
|Carpal Tunnel Release||$276.80||$417.55|
|Complicated Delivery (of baby)||$1,629.35||$2,280.10|
|Coronary Artery Bypass||$2,200.00||$3,064.80|
|Femoral on Inguinal Hernia||$464.50||$623.05|
|Overnight investigation for sleep apnoea||$588.00||$709.40|
|Tonsils or Tonsils and Adenoid||$295.70||$442.65|
|Uncomplicated Delivery (of baby)||$693.95||$1,550.60|
I recognise most of these funds except for the AHSA, what is that?
The funds represented by the ASHA are:
- ACA Health Benefits Fund
- Australian Unity Health Limited
- CBHS Health Fund Limited
- CUA Health Limited
- Defence Health
- GMF Health
- Budget Direct Health Insurance
- Frank Health Insurance
- GU Health
- HBF Health Ltd
- Health Care Insurance Limited
- Health Insurance Fund of Australia Limited
- Health Partners
- Navy Health
- Peoplecare Health Insurance
- Phoenix Health Fund
- Police Health Limited
- Queensland Country Health Fund Limited
- Reserve Bank Health Society Ltd
- rt health fund
- Teachers Health Fund > UniHealth Insurance
- Teachers Union Health
- The Doctors' Health Fund Pty Ltd
- Transport Health