Trying to Pick a Good Extras PHI to Churn; Anyone Use a Corporate Policy? How Did You Compare and Pick an Extras Policy?

abbztract on 11/03/2024 - 17:46

I'm looking around for a good Extras cover and wondering if you can share what you hold and your experiences with it and how you compared and decided to go with your pick.

I'll be pairing this with a Silver level Hospital cover and intend to churn around through a few.

I am looking for:

  • General Dental (cleaning twice a year)

  • Major Dental (periodontics / endodontic / orthodontics - twice a year maybe, previous root canal issues, likely to need fillings, may want aligners eventually)

  • Optical (Once a year checkup, I have severe myopia and use contact lenses)

  • Physiotherapy (maybe 1-2 per year, for general wellbeing / precautionary)

  • Remedial Massage (monthly if possible or at least every 3 months)

  • Podiatry (precautionary)

  • Percentage-based rebates.

I've narrowed myself down to:

  • AHM Super Silver Plus + Super Extras (covers everything I want but set amounts not percentage rebates) = $217.05 + $111.60 = $328.65pm (six weeks free after 60 days)

https://static.ahm.com.au/files/products/super-extras.pdf

  • Medibank Silver Plus Secure + Top Extras 90 (seems the same level as the AHM above but 90% rebate) = $226.67 + $144.12 = $370.79pm (six weeks free on Bronze hospital so gotta call)

https://www.medibank.com.au/content/dam/retail/health/cover/…

  • Bupa Corporate Silver Plus Extensive Hospital + Corporate Choice 70 (corporate policy offered through work, claims "70% back for most items at Bupa recognized providers" however has combined $1000 limit for most of the things I want)

https://bupaanzstdhtauspub01.blob.core.windows.net/productfi…

  • Bupa Silver Plus Advanced Hospital with Top Extras (70% back at Members First providers, good limits for desired extras, 6 weeks free after 30 days ) = $322.71pm

https://bupaanzstdhtauspub01.blob.core.windows.net/productfi…

What do I pick? How do you even compare these with their vague confusing terminology?

Is there no simple way to compare extras?!

Health & Beauty Health Insurance Insurance

Comments

  • John Kimble on 11/03/2024 - 18:14

    Is there no simple way to compare extras?!

    Not really.

    Have you tried this?

    https://www.privatehealth.gov.au/dynamic/search/start

    Make sure you check the limits of the categories you are interested in. There can be fine print on those also.

    • abbztract on 11/03/2024 - 20:37
      +1

      Yeah, I am trying to use this however even then its not super clear since, as you said, gotta look at the various benefits and limits on them all. I'm manually making an ugly spreadsheet to compare and its so much work :( I should really learn python :P

  • Gunther on 11/03/2024 - 21:01

    The whole market is a scam unfortunately. They make it difficult to compare on purpose :(

  • ozbs25 on 11/03/2024 - 21:59

    What do you expect to achieve by churning through a few different PHI?

    • muzzamo on 12/03/2024 - 09:57

      Usually it's the bonus - 12 week offers, gift cards, bonus points, etc.

      • ozbs25 on 12/03/2024 - 10:08
        +1

        OK. I used to process the transfer certificates for a major PHI so I can imagine the horrors these guys are creating. As long as they aren't trying to game the benefits side of things then I guess it's fine. I think if you try to churn to get more benefits you'll probably be caught out sooner rather than later. I'm not exactly sure what the penalties are but you might find it hard to get a new policy.

  • Zippy135 on 11/03/2024 - 22:51

    I split my hospital and extras. It’s a bit more work but better value for what I need.

  • OZBMate8911 on 11/03/2024 - 23:13
    +1

    Subbing as I've found myself having the same issue, best of luck OP. I'll update if I have more info.

    I have been compiling useful churn tips here if that helps

  • eek on 12/04/2024 - 11:09

    Wait, do extras reset every time you churn? Presumably if there is some kind of portability - to reduce the waiting periods, they'll also know how much extras you've already claimed and deduct it from the new policy?

  • caperite on 12/04/2024 - 14:00

    Your previous health fund reports your usage amount to new health fund so no, you don't get a fresh kitty of money each time you move.

    What I'm not as clear about is what happens if you move to a fund that has a different extras reset date from your previous fund. If you move to a fund in mid-May that has an EOFY reset, do you get a fresh start on extras on 01 July?

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