'Desperate' health funds' new perks to lure younger customers

Bupa, Medibank, HCF and NIB have more than 70 per cent of the market but HCF is the only not-for-profit among them.APRA board member Geoff Summerhayes has predicted that within two years, only the biggest three funds will still be viable following the mass exodus of young people.

Bupa is offering six weeks' free if you join on selected combined hospital and extras products and will waive waiting periods on selected extras policies.Australian Unity, NIB, health.com.au, Medibank and GMHBA are offering one month free and some of them will waive the usual two-month and six-month waiting periods.

Qantas Insurance is conveniently offering anyone who signs up before April 5 up to 120,000 frequent flyer points and waiting periods waived. And for every $1 spent on the premium, you'll earn one Qantas frequent flyer point.Peoplecare will give new sign-ups a $300 gift card for couples/family policies and a $150 gift card for singles. Or you can choose six weeks' free which usually works out to be much more valuable than the gift card.

Health Partners is offering a $200 gift card for couples/families and $100 for singles while hif is offering a $200 cash card for couples/families, $100 for singles and all two-month waiting periods waived. Frank Health Insurance is discounting its policies by $200 for families, couples and single parents and $100 for singles with all waiting periods waived.Premiums are scheduled to rise by an average 2.92 per cent on April – the lowest increase in 19 years.Of the big providers, the following price hikes apply from April 1:

I would think the better option would be to actually provide value for the premium paid . This tells me that it’s all about cash in and nothing to do with value to the insured .

Yeah, nah

How about a monetary discount instead?

And non payment of all claims.

Why would you use Bupa in your article they would have to be the single worst offender and unacceptable nursing homes.

What about existing customers? How about do sth to retain them?

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