Health Fund Sign Up Bonuses for April 2012
Don’t have health insurance yet? Now is the perfect time to see what your options are. As always, your needs should be the main priority when you compare health insurance. You may find that a health insurance comparison brings up more than one health fund that suits you nicely. In this scenario, which health fund should you join?
Health funds will often offer sign up bonuses to make this decision easier. Browsing their websites to see what the current sign up offers are can take a lot of time, so we have done the hard work for you and rounded up some of the best sign up bonuses for April 2012. Unless otherwise stated, you need to join the health fund before April 30th to take advantage.
Waived waiting periods on extras
You cannot usually claim on extras straight away. The wait time can be two months up to a year depending on the extra in question.
Two months wait. Psychiatric, rehabilitation and palliative care benefits typically have two month waiting periods attached to them. This applies even if the condition is pre-existing.
Six months wait. Optical benefits usually have a six month waiting period.
Twelve months wait. Major dental treatment often has a twelve month waiting period. This includes crowns, bridges, dentures, orthodontic work and wisdom teeth.
Some health funds will skip the usual two or six month wait as a sign up bonus. AHM, HIF, Medibank Private and HCF are examples of health funds which will do this on both wait times. NIB will waive two month waits, but six and twelve month waits still apply.
You will often need to sign up for combined hospital and extras cover to qualify. This is not always the case, though, so check which policy the offer is connected to.
Check the terms and conditions, too, or you may be caught out. There can be restrictions as to what is included. For example, NIB and HCF exclude palliative care, psychiatric and rehab extras. Medibank Private excludes ambulance cover.
Some health funds will offer a period of cover free as a sign up bonus. This often refers to the first or second month. For example, in April you can get your first month free with GMHBA. A similar deal is offered by Medibank Private but you need to pay the first premium to get the following month free.
Another option is to offer a number of days worth of free cover. For example, HIF offer 43 days free cover. Pay the premium for the first month and you will get the next 43 days for free.
Free gift offers
BUPA are offering free movie tickets if you take out certain cover options before April 30th. This includes standard hospital cover with extras packages. Join Peoplecare in April and get a free magazine subscription.
A word of caution
Never neglect to compare health insurance just because a sign up bonus has caught your eye. You will get the best deal if you choose a policy which suits your needs, even if that means no sign up bonus.
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