Cheapest Health Insurance to Avoid Medicare Levy Surcharge 2024-2025

jjj123 on 03/08/2024 - 19:56
Last edited 03/08/2024 - 19:56

My Plan of Hospital Cover:

First Sign Up for a Free Trial Offer:

Currently, Bupa is offering 12 weeks free.

https://www.bupa.com.au/offers/welcome-back

Then Switch to the Most Affordable Provider:

Someone mentioned Frank as a possible option.
https://www.frankhealthinsurance.com.au/

(does the Frank Accident Boost (Basic) for just $950 ea person per year work?)

Next Year, Find Another Free Trial Provider.

Then, Switch Back to the Cheapest Provider.

Repeat This Cycle.

Does this approach make sense, and is it feasible to implement?

Financial Health Insurance Insurance

Comments

  • netjock on 03/08/2024 - 20:08

    (does the Frank Accident Boost (Basic) for just $950 ea person per year work?)

    Their website says it does.

    Depends on what extras you use. If you don't have optical or have alternative dental arrangements it might work.

    • Miss B on 03/08/2024 - 20:16

      Optical and dental you're generally better off signing up to say Medibank when they waive 2&6 months waiting periods just hold it long enough to get your dental check up and Glasses, a couple of weeks should be more than enough.

      If you need major dental, orthodontics or other extras services you may need to keep cover for longer, if that works out to be better value than just paying for them.

    • BigBirdy on 04/08/2024 - 09:45

      Op wants to avoid MLS, extras have no relevance to that. If they also want extras, it’s still not relevant unless they particularly want to source both hospital & extras from the same insurer, but it’s unlikely they’d get the cheapest hospital cover from the same insurer as the best (for them) extras.

      • netjock on 04/08/2024 - 10:18

        two parts to the answer

        says it does = basic plan does avoid MLS

        extra = historically I have found extras worth it if you wear glasses / contacts and use dental. But if you actually go to Asia or somewhere else once a year it might be cheaper to get dental done on holidays.

  • Miss B on 03/08/2024 - 20:11
    +3

    Make sure you read the terms carefully. BUPA is only 6 weeks free. The other 6 weeks is after you've been with them 14 months.

    • whey4000 on 04/08/2024 - 00:19

      Yeah and its not the first 6 weeks free either, have to wait a month

  • Ocker on 03/08/2024 - 20:28

    What did your mother suggest?

  • soan papdi on 03/08/2024 - 21:46

    Not for everyone but with HCF, you get some flybuys to go with it. I convert mine to Velocity. https://corporate.hcf.com.au/flybuys
    Medibank has a velocity offer too https://www.velocityfrequentflyer.com/partners-offers/mediba…

  • Emphasise on 04/08/2024 - 01:52

    PHI churning has been discussed before - https://www.ozbargain.com.au/node/651718

    Definitely lucrative if you can spare the time to switch providers all the time.

    This comment in particular is something I'm trying this year

  • BigBirdy on 04/08/2024 - 21:30

    Yet another forum where the poster goes AWOL. I'm seeing a pattern here

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