Need to know
- An average health insurance premium increase of 2.9% has just been announced so now's the time to compare policies and make sure you're still on the best deal
- Big funds like Medibank, Bupa, HBF and NIB as well as a range of smaller funds are all offering sign-up deals to entice new members
- We've come across a range of discounts and promo deals, including 4–10 weeks of free cover and gift cards valued at up to $800
A health insurance premium increase of 2.9% on average has just been announced and health funds are trying to sweeten the deal by enticing you to join them.
We've seen offers of 4–10 weeks of free cover and gift cards valued at up to $800, as well as funds waiving some waiting periods for services such as dental, optical or physiotherapy if you switch your cover.
Some health funds like HBF will increase their premiums by 1 April while most others like Medibank, Bupa, NIB and HCF will raise premiums later this year. Read more about the upcoming premium hikes and find out how much your premium will go up by.
Now is the perfect time to compare health insurance policies to make sure you're not paying more than you need to for cover. We've gone through dozens of health insurers' websites to find out what they're offering, so read on to find out whether you can snap up a good deal. In March 2023 offers are available for:
- AAMI
- AHM
- AIA
- APIA
- Australian Unity
- Bupa
- CBHS (this is a restricted membership fund)
- Commonwealth Bank (AIA)
- Doctor's Heath (this is a restricted membership fund)
- Frank
- GMHBA
- HBF
- Health Partners
- HIF
- ING
- Latrobe
- Medibank
- Navy Health (this is a restricted membership fund)
- NIB
- Peoplecare
- Priceline
- Qantas
- Suncorp
- Teachers Health (this is a restricted membership fund).
- Union Health -TUH (this is a restricted membership fund)
When is a health insurance deal a good deal?
A health insurance sign-up offer is a welcome bonus when switching your health insurance. Conditions apply and the best offers are often only available if you take out a top cover hospital and extras combined policy, so make sure the policy meets your needs and budget. A few weeks of free cover can be very costly in the long run if you take out a bad-value health insurance policy.
When comparing these deals, keep in mind that a better-value option may be to drop your extras insurance altogether (especially if you're not using it as much as you thought you would). Read our advice on whether you need extras health insurance.
A few weeks of free cover can be very costly in the long run if you take out a bad-value policy
Many health insurers also offer to waive some extras policy waiting periods which is useful when taking out health insurance for the first time or when switching to a higher cover policy. If you currently have health insurance, you normally don't need to re-serve waiting periods when you switch.
Offers normally aren't available to current customers. Enter the promo code to receive the offer and be sure to take out the policy directly with the insurer, as policies taken out through commercial comparison websites often aren't eligible.
CHOICE tip: It never hurts to ask, even if the fund you want to join doesn't currently offer a deal. A CHOICE staff member was offered six weeks of free cover from a health fund even though this offer wasn't publicly advertised.
Health insurance deals from Bupa, HBF, Medibank and NIB
If you take out a combined hospital and extras policy with Bupa, you'll get:
- 10 weeks of free cover (6 weeks in the first year of membership; 4 weeks in the second)
- immediate cover for extras items that usually have a 2- or 6-month waiting period.
Offer expires 5 April 2023. Conditions apply.
If you take out a combined hospital and extras policy with HBF, you'll get:
Offer expires 31 May 2023. Conditions apply.
If you take out a combined hospital and extras policy with Medibank, you'll get:
- 4 weeks of free cover
- a gift card or premium discount, issued as points*.
*Points will be issued through the Medibank rewards program and can be exchanged for gift cards up to the value of $250 for singles and $500 for couples/families with one of Medibank's partners, or membership premium discounts up to the value of $200 for singles and $400 for couples/families.
No expiry date given (offer may end at any time). Conditions apply.
Medibank (extras only)
If you take out an extras only policy with Medibank, you'll get:
- immediate cover for extras items that usually have a 2- or 6-month waiting period
- a gift card, issued as points*.
*Points will be issued through the Medibank rewards program and can be exchanged for gift cards up to the value of $50 with one of Medibank's partners.
No expiry date given (offer may end at any time). Conditions apply.
If you take out a combined hospital and extras policy with NIB, you'll get:
- 8 weeks of free cover (6 weeks in the first year of membership; weeks in the second)
- immediate cover for extras items that usually have a 2- or 6-month waiting period.
Offer expires 31 March 2023. Conditions apply.
Note: These deals are based on information collected from health fund websites on 13 February 2023. Conditions and exclusions apply, so make sure you understand all terms and conditions before taking out cover.
Health insurance sign-up offers from Australian Unity, GMHBA, ING, Qantas, Suncorp and more
If you take out a combined hospital and extras policy with AAMI, you'll get:
- 8 weeks of free cover (6 weeks in the first year of membership; 2 weeks in the second).
Offer expires 31 March 2023. Conditions apply.
If you take out a combined hospital and extras policy with AHM, you'll get:
- 8 weeks of free cover (6 weeks in the first year of membership; 2 weeks in the second).
- immediate cover for extras items that usually have a 2- or 6-month waiting period.
Offer expires 31 March 2023. Conditions apply.
If you take out a combined hospital and extras policy with AIA, you'll get:
- 8 weeks of free cover (6 weeks in the first year of membership; 2 weeks in the second).
Offer expires 31 March 2023. Conditions apply.
If you take out a combined hospital and extras policy with APIA, you'll get:
- 6 weeks of free cover (4 weeks in the first year of membership; 2 weeks in the second).
Offer expires 31 March 2023. Conditions apply.
If you take out a combined hospital and extras policy with Australian Unity, you'll get:
- 6 weeks of free cover
- immediate cover for optical extras items and those that usually have 2-month waiting periods.
Offer expires 31 March 2023. Conditions apply.
CBHS is a restricted fund exclusive to current and former employees of the Commonwealth Bank Group and their families.
If you take out a combined hospital and extras policy with CBHS, you can enter the draw to win one of four $5000 cash prizes.
Offer expires 4 May 2023. Conditions apply.
If you take out a combined hospital and extras policy with Commonwealth Bank/AIA, you'll get:
- between $150 and $800 cashback over two years, depending on your level of cover*.
*For example, a single Basic policy entitles you to $150 cashback (issued as $100 in the first year of cover and $50 in the second), while a couple/family Silver Plus policy entitles you to $800 cashback (issued as $600 in the first year of cover and $200 in the second).
Offer expires 31 March 2023. Conditions apply.
This health fund is restricted to healthcare professionals and their families. If you take out a combined hospital and extras policy with Doctor's Heath, you'll get:
- 8 weeks of free cover
- immediate cover for extras items that usually have a 2-month waiting period.
Offer expires 31 March 2023. Conditions apply.
If you take out a combined hospital and extras policy with Frank, you'll get:
- one month of free cover.
- immediate cover for extras items that usually have a 2- or 6-month waiting period.
Offer expires 14 April 2023. Conditions apply
If you take out a combined hospital and extras policy with GMHBA, you'll get:
Offer expires 14 April 2023. Conditions apply.
If you take out a combined hospital and extras policy with Health Partners, you'll get:
- 8 weeks of free cover (4 weeks in the first year of membership; 4 weeks in the second).
- immediate cover for extras items that usually have a 2-month waiting period.
Offer expires 31 March 2023. Conditions apply.
If you take out a combined hospital and extras policy with HIF, you'll get:
- 6 weeks of free cover
- immediate cover for extras items that usually have a 2-month waiting period.
Offer expires 31 March 2023. Conditions apply.
If you take out a combined hospital and extras policy with ING, you'll get:
Offer expires 30 April 2023. Conditions apply.
If you take out a combined hospital and extras policy with Latrobe Unity, you'll get:
- 6 weeks of free cover
- immediate cover for extras items and those that usually have 2- and 6-month waiting periods.
Offer expires 14 April 2023. Conditions apply.
Navy Health is a restricted fund for all serving and ex-serving members of the Australian Defence Force (ADF) and their families.
If you take out a combined hospital and extras policy with Navy Health, you'll get:
- 6 weeks of free cover
- immediate cover for extras items and those that usually have 2- and 6-month waiting periods.
Offer expires 31 March 2023. Conditions apply.
If you take out a combined hospital and extras policy with Peoplecare, you'll get:
- a $100 Visa gift card
- 10% off your extras premium.
No expiry date given (offer may end at any time). Conditions apply.
If you take out a combined hospital and extras policy, with Priceline you'll get:
- between $150 and $600 cashback, depending on your level of cover*.
*For example, a single Basic policy entitles you to $150 cashback, while a couple/family top cover policy entitles you to $600 cashback.
Offer expires 31 March 2023. Conditions apply.
If you take out a combined hospital and extras policy with Qantas, you'll get:
- between 4500 and 130,000 Qantas Frequent Flyer points, depending on your level of cover*
- immediate cover for extras items that usually have a 2- or 6-month waiting period.
*For example, a single Basic policy entitles you to 4500 Qantas points, while a top cover couple/family policy entitles you to 130,000 Qantas points.
Offer expires 2 April 2023. Conditions apply.
If you take out a combined hospital and extras policy (medium and top cover only) with Queensland Country Health, you'll get:
Offer expires 30 April 2023. Conditions apply.
If you take out a combined hospital and extras policy with Suncorp, you'll get:
- 6 weeks of free cover (4 weeks in the first year of membership; 2 weeks in the second).
Offer expires 31 March 2023. Conditions apply.
This health fund is restricted to members of an education union and their families. If you take out a combined hospital and extras policy with Teachers Health, you'll get:
- 6 weeks of free cover
- immediate cover for extras items that usually have a 2- or 6-month waiting period.
Offer expires 31 March 2023. Conditions apply.
Union Health (TUH) is a restricted fund for past and present members of a union and their family members. If you take out a health insurance policy with Union Health, you'll get:
No expiry date given (offer may end at any time). Conditions apply.
Note: These sign-up offers are based on information collected from health fund websites on 6 March 2023. Conditions and exclusions apply, so make sure you understand all terms and conditions before taking out cover.
Stock images: Getty, unless otherwise stated.
