AAMI Health Insurance - Hospital and Extras $200 Cashback

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AAMI

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  [Deactivated] on 06/06/2017 - 18:25

  $73/month. So does this mean I'll get $50 and 45 days of free private health insurance?

  EDIT: Stupid waiting period. Don't think it's worth the hassle for $50.

  • 

    kusama on 06/06/2017 - 18:37

    +1

    It's only beneficial for people that pay health insurance to avoid the Lifetime health cover loading fee ( http://www.privatehealth.gov.au/healthinsurance/incentivessu… )
    because it makes sense to pay for cover even if you don't use it - so you save most of that $200 as you would be paying another company anyway. If you don't need cover then it's not!!

    I'm still tossing up whether to change covers due to hassles of transferring - last time I did I had to call previous company to do something that should be handled in the back end.

    Posted because some ozbargainers love these transfers!

    • 

      [Deactivated] on 06/06/2017 - 19:12

      +1

      I don't get the Lifetime health cover loading fee thing. Surely if I don't want health insurance til I'm 60 then the extra 60% p.a. will still be less than having paid for private health since the age of 20. I'm 21 and don't have and don't plan on getting private health cover until later down the track. Am I missing something important?

      • 

        sinners007 on 06/06/2017 - 19:19

        +1

        Well, that depends on your income. If you don't have PHI, you may have to pay the medicare levy surcharge which is as high as 1.5%. So, if your income is $140,000, the surcharge would be $2,100 which is more than the cheapest PHI. So, you might end up paying more now and cop the loading later.

      • 

        [Deactivated] on 06/06/2017 - 19:21

        +1

        @sinners007:

        Oh right, well I'm a student and definitely not earning that much. I should definitely look deeper into this before I get into the professional workforce.

      • 

        kusama on 06/06/2017 - 19:23

        +2

        @sinners007:

        Yes, please check out https://www.doineedhealthinsurance.com.au/

        You just put in your numbers and it will tell you!

    • 

      Spam Service on 06/06/2017 - 19:59

      It's only beneficial for people that pay health insurance to avoid the Lifetime health cover loading fee

      Paying 100% now to avoid spending an extra 2% later? This is OzBargain - that should start ringing some bells for anyone here.

      Say you put if off for 10 years. That means you'll be paying an extra 20% after that. Let's say you keep paying it for another 40 years. That extra 20% will cost the same as 8 years worth of cover, so an equivalent of 48 years worth.

      But if you get it now, and have it for the whole 50 years, you won't pay that extra 20% - but you will still pay 50 years worth - more expensive.

      • 

        shortgum on 06/06/2017 - 20:40

        +1

        you only trigger lifetime loading cover once reach 31. to buy phi before this is unnecessary. then pay 10yrs phi without missing a day will clear that off

      • 

        Spam Service on 06/06/2017 - 21:45

        then pay 10yrs phi without missing a day will clear that off

        Then it's even more of a rip-off, isn't it?

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  odysseus on 06/06/2017 - 19:36

  What a terrible website.

  Have tried 4 times to get a quote and it just freezes at different fields each time.

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  snc07 on 06/06/2017 - 21:06

  They are sooooooo expensive

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  Calvin27 on 22/06/2017 - 11:16

  Am I missing something or has this expired? I can't find anything saying anything about the cashback.

  • 

    kusama on 22/06/2017 - 13:13

    It still says it when you scroll down -
    When you take out combined Hospital and Extras cover by 30 June 2017

    • 

      Calvin27 on 22/06/2017 - 13:18

      Yep found it thanks. Might try the NIB one instead since that one gets you $200 visa for basic hospital only.