How do the major four health funds compare on price?
HCF has the cheapest extras policy, costing only $8 per month.
As the new financial year begins, health funds are trying to win our business with all manner of deals and discounts. However, there is one tried and true method of winning customers that requires no gimmicks: Offer a comparable product for less than your competitors.
Below we've compared the costs for combined, hospital and extras cover for a single person across all states from the "big four" health funds: Bupa, HCF, Medibank and nib. Who comes out on top?
While nib only had the third most expensive policy out of the four, overall an nib combined health insurance policy will set you back on average $509.30, which is $64.38 more than the second most expensive fund which was Bupa.
HCF offer the cheapest extras cover with one of it's policies costing a mere $8.00 a month. By contrast, at $32.91 nib's cheapest extras policy was more that four times the cost of the HCF policy.
HCF was once again the cheapest of the big four funds, with a maximum hospital only policy cost of $601.15. This was roughly $4.00 less than Bupa, $95.00 less than Medibank and almost $100.00 cheaper than nib.