Private Health Insurance/Hospital Cover for Tax Purpose

sydneybargainer on 05/11/2023 - 17:59
Last edited 14/11/2023 - 19:55

Hi Bargainers,

I am in market to look for private health insurance for tax purpose.

Ideally looking for hospital only cover, however most of the sign up offers are for hospital cover + extras and not for hospital cover only.

Has anyone came across 4-6 weeks free sign up offer from any provider for hospital only cover?
Already tried with most of the major providers.

Thanks.

Hi All,
14/11 Spoke to Bupa via chat. sign up for hospital only cover and they will manually apply 6 weeks free after first payment. Thanks for the input.

Financial Health Insurance Insurance

Comments

  • Aust on 05/11/2023 - 18:31

    You can get velocity points with Medibank and also by the looks waiving the 3/6 month wait times.
    But your likely paying over the odds to start with.

    • sydneybargainer on 05/11/2023 - 19:12

      need to take extras cover to get velocity.

  • SBOB on 05/11/2023 - 18:31
    +1

    If it's purely for tax purposes, I'd expect you'll still be spending extra even with promo periods when paying for actual useful coverage (and extras)

  • c64 on 05/11/2023 - 18:41

    westfund. also give you 6 weeks free after 90 days atm

    • Muzeeb on 05/11/2023 - 18:52

      Just got a comparison quote to my current fund. Geeeezus they are expensive. Even with 6 weeks free they weren't even close.

      • c64 on 05/11/2023 - 19:04

        for barebones, hospital only insurance for tax purposes?

        • Muzeeb on 05/11/2023 - 19:28

          No. Gold hospital, silver extras.

      • this is us on 05/11/2023 - 20:52

        I am on a Silver Plus, no extras, paying a bit more than $300 for couple (BUPA corporate).
        Checked the official government website and anything better is significantly more expensive for me.

    • sydneybargainer on 05/11/2023 - 19:17

      cool will check it out.

  • jsb on 05/11/2023 - 20:35

    Can't you just signup with 4-6 weeks offer, then modify the cover to exclude extras after the offer end? Whats stopping you. There is no contract in these

    • sydneybargainer on 05/11/2023 - 23:45

      i guess. that is the option i ll go with.

    • sydneybargainer on 14/11/2023 - 19:56
      +1

      spoke to Bupa via chat. sign up for hospital only cover and they will manually apply 6 weeks free after first payment

      • glenf on 30/11/2023 - 13:04

        This is great news . Thanks for the tip

  • lachhelix on 05/11/2023 - 20:58
    +1

    I'm in the same boat - looking for the cheapest health insurance to stop having to pay the Medicare levy surcharge

    • sydneybargainer on 05/11/2023 - 23:46

      I will send you my medibank referral link :)

    • sydneybargainer on 14/11/2023 - 19:56
      +1

      Spoke to Bupa via chat. sign up for hospital only cover and they will manually apply 6 weeks free after first payment

    • sydneybargainer on 05/11/2023 - 23:46

      thanks will play with this. looks like it does not say about providers promo.

  • Maccadoodle on 06/11/2023 - 09:10

    Check here. We are with an older HCF policy which they don't offer anymore. When we tried to look for a better (cheaper) policy with them they said not to as this was the best there was. Remember it's not just the premiums it's what they cover with the gap. So hard to compare as they do not publish all their payments for each item number. They should be made to do so. I realise there are thousands but at least folk on the compare sites could properly tote it up and give a better than a broad-brush comparison.

    https://archive.md/5WZhG#selection-667.0-2588.0

    • Kay Elle on 06/11/2023 - 17:30

      I'm assuming you're referring to the gap between what the Health Fund and Medicare pay for the services received while you are an inpatient.

      When you're an inpatient in Hospital, have private hospital coverage for the service and have served the waiting period, you will get the benefit, up to the scheduled fee (aka the fee the Government sets, controls and publishes which is the Medicare Benefit Schedule, otherwise known as the MBS). Medicare pays 75% of the fee and the remaining 25% is paid by your insurer.

      Most insurers have some kind of "known gap" scheme that is open to members. The gist of them is that you, the patient, have a chat with your Dr and ask if they will participate. The Dr is under no obligation to participate and just because they have for one patient doesn't mean they will for the next. If the Dr says yes, there will be a maximum out of pocket the agreement allows them to charge you (my fund says no more than $500) AND they must give you an informed financial consent which outlines the costs to you for their service prior to you being admitted to hospital.

      At the end of the day, the Government decides an appropriate fee for the item numbers (which rarely increases, which is a big part of the reason a lot of GPs no longer bulk bill FWIW). The Dr provides a service and is a business. Their fee reflects their overheads, expertise and training.

  • eckorock on 06/11/2023 - 10:59
    +2

    Frank (Basic Plan) was the best option for this scenario, last time I checked.

    • jjj123 on 04/12/2023 - 10:19

      is this the accident only hospital plan?

  • Kay Elle on 06/11/2023 - 17:32

    If you have no desire (or need) for a policy, some insurers still have public hospital cover only. Be aware - some insurers are going to stop seeing these policies because they are rubbish. Many insurers have low level Bronze hospital policies that will have a tonne of exclusions and a big excess but will cover basic inpatient attendance in a private hospital.

    If you qualify for an industry only insurer (Teachers Health, Navy Health etc) they will likely be cheaper. Try the Not-For-Profit space too.

    Edit: I don't know of any insurer that would offer free weeks on a policy that was Hospital (or Extras) only.

    • eckorock on 06/11/2023 - 18:12

      The industry policies are not "cheaper" per se, but they offer much better inclusions for the price.

  • 123Wazza on 29/11/2023 - 13:56

    looking to join phoenix health and after a referral code please

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