The Best Health Insurance Deals Are About To Expire

With the end of the financial year just around the corner, now is your absolute last chance to snag some of Australia's hottest health insurance sign-up deals. Health funds are pulling out all the stops to attract new members before July 1, offering everything from weeks of free cover to valuable gift cards and bonus loyalty points.

Beyond the immediate savings, securing private health insurance before June 30th can have significant financial benefits, especially if you're a high-income earner or approaching 31. The Medicare Levy Surcharge (MLS) can add an extra 1% to 1.5% to your tax bill if you don't have hospital cover and earn above a certain threshold. Plus, the Lifetime Health Cover (LHC) loading penalises you with a permanent 2% increase on your premiums for every year you delay getting hospital cover after turning 31. These EOFY deals provide a golden opportunity to avoid these penalties and invest in your health.

Whether you're new to private health insurance or looking to switch to a better-value policy, June is undeniably the best time to do it. Here's a rundown of some of the top health insurance offers available right now:

Medibank: Free Weeks, Gift Cards & Live Better Points

Medibank continues to be a strong contender with a variety of appealing offers this EOFY:

• Finder Rewards Exclusive - Get $300 from Finder: Join Medibank with eligible combined hospital and extras cover through Finder by June 30, 2025, to receive a $300 Finder reward (T&Cs and limits apply).
• Up to 12 Weeks Free + $500 in Gift Cards (or $250 for singles/single parents): Join and maintain eligible Bronze Hospital+Extras cover or above by July 15, 2025. This offer also waives 2 & 6 month waiting periods on extras.
• 6 Weeks Free + $400 in Gift Cards (or $200 for singles/single parents): On eligible Bronze Hospital cover or above. Ends June 30, 2025.
• Up to 8 Weeks Free + $50 Gift Card: When you join and maintain eligible Extras cover by June 30, 2025. Plus, get 2 & 6 month waiting periods waived on extras.

Why it's a hot deal: Medibank's extensive offers provide immediate financial benefits through free cover and gift cards, while also waiving common waiting periods so you can start claiming sooner.

HBF: Up to 14 Weeks Free & Finder Exclusive Reward

HBF is offering one of the longest free cover periods in the market right now:

• Finder Rewards Exclusive - Get $300 from Finder: Join HBF with eligible combined hospital and extras cover through Finder by June 30, 2025, to receive a $300 Finder reward (T&Cs and limits apply).
• Up to 14 Weeks Free: For new members who join by July 17, 2025, and maintain hospital and extras cover. (Note: 14 weeks applied over 26 months).
• Instant Access to Extras: Join Hospital & Extras by June 30, 2025, and get instant access to Extras (T&Cs apply).

Why it's a hot deal: A generous free cover period combined with a Finder exclusive cash back makes HBF a highly attractive option, especially if you're looking for long-term savings.

Qantas Health Insurance: Up to 150,000 Bonus Frequent Flyer Points

For those who love to travel, Qantas Health Insurance offers a substantial points boost:

• Join and earn up to 150,000 Qantas Points: When you take out a combined hospital and extras policy by June 30, 2025. Plus, skip the 2 and 6 month waiting periods on Extras. (Points awarded over 6 months based on cover level).

Why it's a hot deal: A massive bonus points offer that can significantly contribute to your next holiday or upgrade.

Bupa: Up to 12 Weeks Free

Bupa, a trusted global brand, has competitive deals for combined and hospital-only cover:

• Unlock up to 12 Weeks Free: When you join Bupa directly on eligible combined hospital and extras products by July 31, 2025. They'll also waive the 2 & 6 month waiting periods on Extras. (12 weeks free applied over 2 years, or 3 years for annual payers).

Why it's a hot deal: A significant free cover period from a well-known insurer, offering flexibility with how the free weeks are applied.

nib: 10 Weeks Free

nib is providing a straightforward free cover offer for new customers:

• Get 10 Weeks Free: When you join a combined hospital and extras cover online by June 30, 2025. (T&Cs apply).

Why it's a hot deal: A simple and effective way to reduce your initial premiums.

AAMI Health Insurance: 10 Weeks Free

AAMI is also offering a solid free cover period for new combined policyholders:

• Get 10 Weeks Free for a Limited Time: When you take out AAMI Health Insurance Hospital & Extras cover. (Eligibility and T&Cs apply).

Why it's a hot deal: Another strong option for those seeking a considerable discount on their initial premiums.

Australian Unity: Up to 10 Weeks Free + Waived Waiting Periods

Australian Unity offers a combination of free cover and reduced waiting times:

• Get up to 10 Weeks Free: Plus no 2 & 6 month waits on extras when you join on combined cover by July 15, 2025. For new members only. (T&Cs apply).

Why it's a hot deal: The waived waiting periods mean you can start using your extras benefits sooner, in addition to the free cover.

Peoplecare: 6 Weeks Free

Peoplecare offers a transparent free cover incentive:

• Get 6 Weeks Free: Join by June 30, 2025, and maintain eligible Hospital and Extras cover. (That's 6 weeks free after 60 consecutive days of holding your Peoplecare membership cover. Use code: 6WKSFREE. T&Cs apply).

Why it's a hot deal: A clear and easy-to-understand offer for those looking for a solid starting bonus.

Things to Remember Before You Join

While these EOFY deals are tempting, it's crucial to choose a policy that genuinely fits your needs. Don't be swayed by a deal alone if the underlying cover isn't right for you. Keep these points in mind:

• Suitability First: Always ensure the policy covers the services you're likely to use.
• Ongoing Premiums: Be sure you can comfortably afford the premiums after any free period ends.
• Terms and Conditions: Read the fine print! Most offers are for new customers and have specific eligibility criteria.
• Existing Waiting Periods: If you're switching, rest assured that any waiting periods you've already served will generally transfer to your new provider, as long as the coverage level is the same or higher.
• Member Benefits: Look beyond the sign-up deal. Many funds offer ongoing member benefits like discounts on gym memberships, travel insurance, or optical services.

The EOFY deals won't last forever. Take advantage of the current competitive market to secure a great health insurance policy and potentially save hundreds of dollars. Compare offers today to find the best fit for your health and your wallet!