AHM, Frank and Medibank all have current offers with 2+6 month waiting periods waived on extras when you purchase combined hospital and extras insurance.
Reading their T&Cs (e.g. AHM – https://www.ahm.com.au/offer/1-Month-Free-WW-Feb-5-2021) it seems like someone could sign up, claim extras, and then cancel or change to extras only cover.
Has anyone done this? Is there any reason why I couldn't?
Thanks mate – needed a second set of eyes on it.
No issues with the medicare levy just yet, but excellent point.
I came on these forums to ask this exact question because I want to do this exact trick / loophole :D
I asked AHM if there is further T's and C's you get when signing up.
Basically if you cancel hospital extras then the waive waits promotion is removed from you. Still - you can sign up for, get some work done and get rebates, then cancel.
Who are you leaning towards? Frank has the best reviews.
My only other question is which ends up being the best value ? Is it the ones that give 70/80% back or like a fixed value for certain items. Im assuming the % based ones are the best.
There really isn't any reason you can't, up to your policy limits. After 6 months, the 'benefit' is gone anyway.
You just have to consider though that Hospital cover is what the ATO uses to determine whether you need to pay the Medicare Levy Surcharge if that applies to you by age and/or income.