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Health Fund Sign Up Bonuses for August 2012

Sally Aquire August 7th, 2012 0 comments
Photo by http://www.flickr.com/photos/bdogggut34

Thinking of getting health insurance? Always make sure that you look for a policy that ticks all of your boxes without breaking the budget. This should be the main aim of any health insurance comparison. Once you have looked at your options, you may have to choose between health funds. This can be challenging but health fund sign up bonuses can help. Many health funds offer incentives to encourage new members to join them. This can be useful if you are otherwise struggling to make a decision. We have rounded up some of the best sign up bonuses for August 2012 so you don’t have to!

Photo by http://www.flickr.com/photos/bdogggut34

Waived extras

Under normal circumstances, you need to serve waiting periods before you can claim on extras. This is either two or six months for many extras, although some do carry twelve month waiting periods. Many health funds now offer to waive two and six month waits as a sign up bonus.

AHM,GMHBA and Australian Unity are waiving both two and six month waits for August. Bupa, HCF and Medibank Private are also doing this. HIF are waiving two month waits as an on-going sign up bonus.

Check the terms and conditions before you jump in. You may need to arrange a particular type of policy to be eligible. This will often be hospital and extras cover. Not all health funds will specify this but be sure to check to avoid nasty surprises.

Look out for exclusions too. Some health funds will limit which extras are included in the offer. HCF and GMHBA exclude psychiatric, rehab and palliative care extras.

Free cover

With health insurance premiums on the up, you’ll be pleased to know that some health funds offer free cover. This type of sign up bonus is often for a specific month but this won’t always be specified.

Arrange hospital and extras cover with AHM before 31st August and get your second month free. They are not the only health fund to be doing this in August. Bupa, Medibank Private and CUA are also offering a month’s free cover for August sign ups. HIF have an on-going offer for 43 days worth of free cover.

Watch out for exclusions and restrictions here too. The AHM bonus excludes ambulance cover and extras only cover, for example.

Specific policies may also be needed here too. Bupa and Medibank Private both require you to take out hospital and extras cover to get the free month, for example.

Summing things up

Not got health insurance yet? Don’t forget the golden rule when looking to compare health insurance options. Your main aim should always be to find a policy that suits your needs and budget. This may lead you to more than one health fund, in which case sign up bonuses can play a useful role. Stuck between two or more health funds? If everything else is equal, sign up bonuses can make your health insurance comparison that little bit easier. Just don’t let them sway you into choosing a policy that is not really what you need.

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