4 health insurance perks to look for in 2023

Thinking about switching health insurers before EOFY? There are plenty of extras you can score from the right provider.

Our healthcare needs change throughout our lives. So it makes sense that our health insurance needs change over time, too.

So with the end of the financial year just around the corner, it's the perfect time to look at whether you're getting the coverage and service that you need.

Sometimes, staying with your current provider is the right call. But if you make the switch, you can also potentially score yourself some great bonuses. Today, we're taking a look at some of them.

1. You could earn an Apple Watch with nothing to pay

Exercise regularly, eat healthily…we're sure you've heard it all before! When it comes to fitness goals though, the real challenge tends to be staying motivated and on track.

The good news is that there are tools available to help.

Smart watches in particular have been demonstrated to be powerful motivators in increasing activity. Being able to track factors like steps taken, heart rate and weight loss over a sustained period of time can be both a powerful motivator and also serve as positive reinforcement.

AIA Health customers who have activated their AIA Vitality membership, can earn an Apple Watch Series 8 (GPS) – just by hitting weekly physical activity targets over 24 months to have loan repayments covered in full.

By looking out for offers like these, you can make sure you're getting good coverage – and also setting yourself up for better health down the line.

2. Take advantage of offers when you switch

Depending on the insurer you opt for, you may be eligible for a range of benefits if you make the switch. Some of the most common offers include discounted premiums, expanded coverage or waived waiting periods on extras. We'll talk a bit more about some of these in the next point too.

However, it's also important to think of "offers" in terms of the actual products on offer too. One of the primary benefits of switching to a new provider is that you're often able to tailor your new policy to better suit your needs.

Whether you're looking for more (or less) of a particular type of cover, a new provider may allow you to take a mix-and-match approach.

Let's look at AIA as an example.

All AIA health insurance products feature hospital cover. You're then able to select a range of different coverage options in order to round out your policy.

Depending on the type of hospital coverage you've opted for, the extras you can choose from can cover a range of different options. These may include optical, dental, physio and a range of other services.

Accordingly, you're able to pick a selection of coverage that suits your particular needs, while also avoiding spending needlessly on cover not suited to your or your family.

3. Membership and rewards programs

In addition to the actual insurance policy, many insurers now also provide membership clubs or extra benefits to policyholders.

AIA Health comes with AIA Vitality, offering members a range of benefits. These include discounted gym memberships and health insurance benefits like maintaining a 5% discount on your premium.

Additionally, if you have AIA Vitality Silver Status or above – and have been an AIA Health member for six months or more – you can claim 100% of your hospital excess.**

By engaging with AIA Vitality, you're able to learn how to exercise more, eat better and also earn a range of rewards in the process too.

Some of the benefits include discounted gym memberships, cashback and gift cards. So if you're thinking about switching insurers, it's worth investigating what other extra options your new provider might offer.

4. Being with a proven and trusted brand

One good reason to make the switch is to opt for a provider that's a trusted brand and has a proven track record.

It's important to look for an insurer that has a clear track record of offering a broad range of coverage and paying out claims in a timely fashion.

Although longevity isn't the sole indicator of quality, it can provide an indicator of the company's experience in handling claims and dealing with complex situations.

Any reputable provider will be upfront with you about how its claims process works, how frequently claims are paid and what sort of exclusions might apply.

So when you're looking for a new health insurance policy, make sure that you ask plenty of questions before signing on the dotted line.

This way, you'll be sure that you're not only getting a policy that will suit your needs. You'll also be getting a policy you know will be serviced if the time comes too.

Learn more about AIA today

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• Extra info about AIA

  *AIA Vitality Starter members can only access this benefit upon reaching Platinum Status.

  **If you have held an AIA Health policy for a minimum of six months and have an AIA Vitality Status of Silver or above, we will refund your excess in the event that you're admitted to hospital. Excess Refund is not available when claiming on the following clinical categories: Cataracts, Joint replacements, Dialysis for chronic kidney failure, Pregnancy and birth, Assisted reproductive services, Weight loss surgery, Insulin pumps, Pain management with Device & Sleep Studies.