Bupa is the 2nd largest private health provider in Australia with its customers making up over 27% of the whole market. But does the size mean a better deal for members? Bupa offers below average benefits for extras cover compared to industry averages. While Bupa have invested heavily in advertising, smaller funds may actually better suit the needs of individuals.
Every policy in the private health insurance market is a distinct product, and in different funds policies that look similar can vary significantly in the benefits they offer. Making a decision based on fund loyalty can mean you’re paying more for the exact same level of cover. When searching for private health insurance the best value cover can be found by comparing to find the right policy for your needs.
“Had been with Bupa for 10+ years, when my kids left home and I was still paying around $6000 a year. I thought stuff that there’s got to be something better out there. After talking options on the phone I found a plan with HCF that did what I wanted and cut out $1000 a year. happy days for me.”
“Didn’t really know much about comparing health insurance but the woman I talked to on the phone just asked a few questions and I was off. Found a fund that’s not-for-profit for a price I was happy with in minutes. Wish I’d done it sooner!”
“I thought bupa was great because they’re just everywhere, hadn’t even heard of much else besides NIB and medibank. Got sick and got slung with a hospital bill bupa refused to pay so I figured it was time to look around. Found personal service helped to make sense of it and the other funds and made the switch”
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Bupa is part of global healthcare organisation Bupa Group. It has had a presence in Australia for over 60 years through its brands MBF, HBA and Mutual Community. Over three million Australians get their health insurance from Bupa, which holds 27% of the private health insurance market share. Your policy can be viewed and managed at bupa com au, over the phone, or with the Bupa mobile app.
Bupa’s focus is providing a range of options for all life stages. There are five levels of hospital cover (Basic, Budget, Standard, Top Hospital No Pregnancy, and Top Hospital) and five levels of bupa extras cover (Bronze, Your Choice Extras, Silver, Gold, and Platinum). Bupa Visitor Cover is also available for overseas visitors and students. Compared to industry standards, Bupa offers average hospital cover and below average extras cover (dental, physio, chiro).
Bupa has a comprehensive range of online health tools and support programs to help you achieve your health and wellness goals. Members also have access to the Bupa Plus program, which gives discounts on a variety of products and services, from health to travel. Eligible policies also offer loyalty bonuses. For example, after your first year with Bupa Silver Extras your benefits increase by 2% each year up to a maximum of 10%. Visit www bupa com au to learn more about available benefit programs.
The Private Health Insurance Ombudsman’s State of the Health Funds Report shows that Bupa made up 17.4% of service complaints and 21.7% of all complaints in the 2015-16 financial year. Bupa returns 85.5% of contributions as benefits to their customers, compared to the industry average 86.1%. Their membership retention is 86.1%, compared to the industry average 84%.
Bupa has created hospital and extras packages that are tailored to various life stages, though it can be tough to identify exactly where you fall especially if you are between stages. You could easily get caught out by a waiting period you didn’t realise applied, particularly if you’re starting a family. With advance planning you may find that you fit perfectly into one of Bupa’s life stage packages, but it’s smart to explore a range of options. Compare policies with HealthInsuranceComparison.com.au to find a low price on a policy that delivers value for money.
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