Health Fund Sign Up Bonuses for July 2012
Don’t have health insurance yet? Now is a great time to take the plunge. Don’t forget your main aim: to find a policy that meets your needs and won’t break the bank. Sometimes, a health insurance comparison will throw up more than one potential. If this happens, you may wonder how to decide between health funds.
One option is to look at the various sign up incentives offered by some health funds to encourage new members to join them. If everything else is equal, this can be a useful way to compare health funds. It can be time-consuming though to look at go through every health fund website to see what their current offers are. Don’t have time to do this properly? You’re in luck! We have done the hard work for you and located some of the best sign up bonuses for July 2012.
Waived waiting periods for extras
Under normal circumstances, most extras come with waiting periods. These can be two, six or twelve months but either way, they must be served before claims can be made. However, some health funds will waive two and six month waits as a sign up bonuses. This means that in many cases, claims can be made straight away on these extras.
AHM, Australian Unity and HCF are waiving two and six month waiting periods. HIF and nib are removing two month waits.
Don’t forget to read the small print! There will often be restrictions on this sign up bonus. You will often have to be arranging a certain type of cover to be eligible. AHM requires you to take out hospital or combined cover to be eligible. Medibank Private, HCF and nib specify that you need to have hospital and extras cover.
Some extras may also be excluded from this type of sign up bonus. This will often apply to in-hospital extras such as psychiatry, rehab and palliative care. This is the case for HCF and nib, who exclude these three extras from their sign up bonuses. AHM and Medibank Private exclude ambulance cover from theirs.
Some health funds will offer free cover to win your custom. This can be for a set number of days or for a specific month. GMHBA are offering the first month’s cover for free while AHM and Medibank Private have the second month free. You must pay the first month’s premium to get the latter. HIF have an ongoing offer in which you get 43 days worth of free cover.
Check the small print here too. You may have to take out a certain package to be eligible. For example, the Medibank Private bonus is only available with hospital and extras cover.
Summing things up
Health fund sign up bonuses can be great but always remember to use them wisely. Don’t allow yourself to base your decision solely on a tempting sign up bonus. Your main goal should always be to find the most appropriate policy for your needs. If this leads you to more than one health fund, sign up bonuses can be a useful means to compare health insurance options.
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