Health Insurance Deals
Compare current health insurance deals and get instant quotes online here through Savvy.
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With 34 health insurers in Australia and hundreds of different policies on offer, competition for your business is hot. Wherever there’s competition, there’s sure to be great deals on offer, which is great news for Aussies! You can get health insurance quotes online almost instantly here through Savvy.
By comparing with us, you can have a range of quotes from a panel of some of Australia’s leading insurers to consider side-by-side. Just answer a few questions about the type of health insurance you’re after, and you’ll get details of all the latest deals available on our partner’s panel. Get your free quotes here today with Savvy.
What types of special deals are on offer with health insurance policies?
As there are so many health insurance funds in Australia, the race is on to attract new customers. For this reason, many health insurers work hard to present an attractive package of deals and incentives to persuade new customers to sign up for their products.
There are many different ways that health insurers can make their policies more attractive to new customers. Some of incentives which may be on offer include:
- Waivers on waiting periods (for hospital and extras cover)
- Free period of insurance (often after you’ve paid your first few premiums)
- Free additional types of cover (for example, free ambulance cover)
- Free basic dental and optical services (often through a network of private practitioners)
- Rewards programs (offering cheaper shopping, movie tickets and more)
- Free gift cards (for example, a virtual Visa eGift card)
- Additional health support services (to help you lose weight or manage diabetes, for example)
- Cashback offers (these are COVID-19-related deals)
Let’s take a look at some of these incentives in more detail:
Waiting period waivers
There’s often a waiting period when you take out your first health insurance policy or upgrade to a higher level of cover. This means you have to wait for a certain length of time after you’ve bought your policy before you can make a claim on it. This is to prevent people from buying a policy, making a quick claim and cancelling their health insurance, which would increase the cost of premiums for everyone. However, some insurers offer to waive certain periods to attract new customers. For example, some funds may offer to waive all two-month waiting periods on a new extras policy.
Free period of insurance
This incentive is often only available after a certain number of weeks or months’ worth of premiums have been paid on a new policy. For example, one major fund offers six weeks of free insurance on a hospital and extras combined policy after four months of paying your premium on a new policy.
Free additional cover
Some Aussies choose to take out ambulance insurance to assist with the cost of being transported to hospital by ambulance. This cover is sometimes offered for free with another policy as an additional incentive. Whether you need this type of insurance depends on the state or territory you live in, as some state governments already cover the cost of ambulance transport. However, if you live in a state where ambulance cover is required, this can sometimes be offered free of charge with a new hospital or extras, or combined hospital and extras, health policy.
Free services and treatments
Another way of making a health insurance policy more attractive is to offer freebie treatment as an incentive to sign up. Many health funds have a network of private practitioners who offer free basic dental care, free eye tests and reduced-price glasses or a free first chiro or physio visit for members of a particular health fund. These no-gap services can save important dollars over the years, so check if your provider offers free services to members and compare health insurance providers here with Savvy to find other great deals.
Reward programs
The rewards that some funds offer to their members are many and varied. For example, one of Australia’s largest funds, BUPA, offers a Life Rewards program. This program offers more rewards the longer you remain with the fund. You can receive discounted eGift cards, reductions at popular restaurants, up to 25% off Event Cinemas and HOYTS eVouchers and earn Life Dollars by shopping at over 300 branded shops. Many other insurers offer similar reward programs, such as Medibank’s Live Better Rewards or HCF’s Thank You program.
Additional health support programs
Whether you want to lose weight, give up smoking, manage your diabetes or take part in an online mental health wellness program, many health insurers excel at offering additional health support programs. These programs are often preventative programs aimed at improving the overall health of their customers. For example, some funds offer a 24/7 phone-based medical support helpline, where you can phone and speak to a qualified nurse if you have a health-related issue. Some offer free preventative heart and skin check-ups, designed to catch any minor issues early before they become much larger concerns. Others have teamed up with pharmacy chains and offer discounts on common vitamins and common medications at a lower cost to health fund members.
Cashback offers
Health insurance funds swelled their coffers during the COVID-19 pandemic by up to $5 billion, according to the Australia Institute. This was mainly due to lockdowns, social distancing rules and cancelled elective surgeries. As a result of this windfall, some private health insurance companies agreed to refund cash back to customers who were unable to use their private health insurance during the pandemic. For example, BUPA agreed to refund a total of $155 million in cashback to relevant policyholders. Other funds delayed or deferred price increases in response to their record windfalls. However, these cashback schemes are not expected to continue into 2023 and beyond as life begins to return to normal in Australia.
How should I compare different health insurance deals?
The most important thing to consider when comparing health insurance is the health cover you need now and may need in the future. There are two basic types of cover available in Australia:
- Hospital cover – a type of health insurance that covers you for treatment you receive whilst an in-patient in hospital. This cover comes in four different levels: basic, bronze, silver and gold. Basic cover is the cheapest type of hospital cover, with the price increasing up to gold cover, which offers the most comprehensive coverage for all health categories.
- Extras cover – for all the health services you use in your day-to-day life, like optical, dental, physio and chiropractic services. This is also available in different levels of cover; naturally, you’ll pay more for top-level cover that offers the highest percentage rebates and higher policy limits than a more basic policy.
It’s possible to buy each of these policies separately, or together as a combined package. You also don’t have to stick to the same insurer for both types of policy – you can mix and match to get the best deal possible.
Other areas to compare between health insurance policies
Some of the other aspects of health insurance to compare when choosing a policy are:
- Cost – naturally, you’ll want to find the cheapest deal possible, but make sure the policy you choose offers the health cover you really need at a price you can afford.
- Level of cover – decide on the level of hospital cover you feel you need. Hospital cover policies offer an increased number of clinical categories as the price of the policy increases from basic up to gold cover. Extras policies generally offer a higher level of cover and increased annual policy benefit limits as the cost of the policy increases.
- Excess and co-payments – you may have to pay an excess if you need to make a claim on your hospital policy. You can often choose the excess level you’re comfortable with, ranging from zero to a maximum of $750 for a singles policy. A co-payment may be required for your hospital stay, usually around $100 a night, capped at between $500 and $700 depending on the policy you choose. Higher excesses and co-payments can lead to a cheaper premium, but it’s important to consider what is most comfortable for your needs.
- Waiting periods – if you’re buying health insurance for the first time, there are many good deals around which waive some normal waiting periods or offer free weeks of insurance.
You can compare a range of health insurance policies through Savvy and find out about special deals currently available through our partner’s panel. This will help you decide which type of health insurance is worth the premium cost for you or your family. All quotes are free, so start comparing policies to find the best deals with us today.
How much will health insurance cost me?
The cost of your health insurance will depend on the type of policy you choose to buy and the level of cover you select. However, it’s also worth knowing that the Australian government has introduced a number of incentives to assist eligible Aussies to assist with the cost of their private health insurance. Some of the rebates you may be entitled to include:
- Age-based discount for those aged 18 to 29 years old. This is set at 2% of the cost of your policy per year you’re covered while aged under 30, capped at a maximum of a 10% premium reduction. This discount can be maintained until you reach 41, after which it'll gradually be phased out at a rate of 2% reduction for each year you’re aged over 41.
- Private Health Insurance rebate scheme – this is open to all eligible Australians and provides a rebate on your insurance premiums. The size of the rebate you’re entitled to will depend on your age and income. The rebate can either be claimed back once a year on your tax return or provided through your health fund in the form of reduced monthly premiums.
Types of health insurance
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Savvy is partnered with Compare Club Australia Pty Ltd (AFS representative number 001279036) of Alternative Media Pty Ltd (AFS License number 486326) to provide readers with a variety of health insurance policies to compare. Savvy earns a commission from Compare Club each time a customer buys a health insurance policy via our website. We don’t arrange for products to be purchased from these brands directly, as all purchases are conducted via Compare Club.
Savvy’s comparison service is provided by Compare Club. Compare Club compares selected products from a panel of trusted insurers and does not compare all products in the market.
Any advice presented above or on other pages is general in nature and doesn’t consider your personal or business objectives, needs or finances. It’s always important to consider whether advice is suitable for you before purchasing an insurance policy.
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