The benefits of private health insurance

Most of us know that our health insurance protects us when we need medical assistance, but did you know that the best private health insurance could offer so much more?

As a member of nib, you can save money on your next grocery bill¹, access free health programs and even get discounts on everyday health services.

You might be asking, ‘Is private health insurance worth it?’ Well, with nib, we make sure you’re getting great value for your private health cover, helping you manage your health and wellbeing affordably and easily.

When you’re a member of nib, here’s just a few of the benefits you'll receive.

When you or your family need to see a dentist, optometrist, or physio, the process can feel daunting. Between location, cost, reputation, and availability, it’s easy to feel overwhelmed, especially when you need help now, not months down the line.

That’s where nib makes things simpler and more affordable. Through the nib First Choice network ², you gain access to a trusted community of specially selected health providers committed to offering nib members high-quality care, excellent service and value for money. This network spans dentists, optometrists, and physiotherapists, so you can access the care you need, often with reduced or even no out-of-pocket costs.

And finding a provider couldn’t be easier with our Find a Provider tool. It helps you locate health professionals near you, so you can save time, stress and money while focusing on what matters – your health.

Related: What the nib First Choice network is and how it can save you money

Managing your health has never been easier or more flexible. With discounted access to GP telehealth services, you can get the care you need without leaving home. Need a prescription? Skip the pharmacy lines and order online instead.

Through our partner hub.health, you can access tailored treatments for specific health needs, including support for weight loss, sleep issues, contraception, hair loss, skin conditions and more. It’s all designed to make managing your health simple, convenient, and suited to your lifestyle.

Whether you’re a gym junkie, a running enthusiast or a weekend walker, we want to reward you for embracing exercise, which is why we’ve partnered with online sports and performance wear sites to offer discounts on your next activewear purchase. Head to the nib Rewards page to get your next deal.

If you’re sick of paying full price for some of your everyday shopping, check out the full range of discounts available through nib Rewards today.

Eating a healthy diet full of fresh fruit and vegetables doesn’t have to mean stocking up on overpriced activated almonds. At nib, we like to keep things simple, which is why we’ve partnered with nutritionists and dietitians to develop a new range of exclusive recipes. To help with your healthy eating journey, you can access discounts on your next grocery bill with nib Rewards.

When it comes to managing your health, nib’s private health insurance benefits don’t stop with your basic coverage. We offer eligible members access to a range of Health Management programs to help you manage health conditions like joint pain, weight, diabetes, heart health and mental health. The programs are available at no additional cost for eligible members³ and delivered by qualified health professionals, so you can access all the tools you need to feel your best.

Going to hospital isn’t generally something we enjoy and for those who require a hip or knee replacement, the financial stress can be daunting. At nib, we’ve been working hard to develop and expand our Clinical Partners program. This program is a network of experienced orthopaedic surgeons who have committed to performing hip and knee joint replacement surgery with no out of pocket expenses. The Clinical Partners program is currently available in most locations across Australia. You can search our network of Clinical Partners to find one closest to you.

Check out our article, Planning a hip or knee replacement? How nib’s Clinical Partners program can help for more information.

7. Easier (and more convenient) ways to manage your policy

The free nib App makes managing your membership and accessing benefits effortless. You can quickly submit claims, review your cover, check annual limits, update details, and even book GP telehealth appointments or take a free health check – all in just a few taps.

We’ve also added features like digital membership cards for easy tap-and-go claims. Plus, a handy Help & Support section will empower you to manage your policy without needing to pick up the phone.

Take charge of your health cover when and where it suits you – download the nib App today.

8. Freebies anyone? Get more from your health cover

At nib, we believe the best private health insurance should come with extra perks. That's why we provide our members with a range of complimentary health and wellbeing tools to help you feel your best.

Our free Health Check tool delivers personalised insights and actionable recommendations to help you kickstart your journey to better health. Curious about your skin cancer risk? Take three minutes to complete your free online skin check and get personalised insights and learn how to reduce the likelihood of developing skin cancer.

So, whether you've opted for basic hospital cover to avoid the Medicare Levy Surcharge or manage your health for free with GreenPass, our range of complementary health and wellbeing tools allows you to save money without compromising your health.

9. Your private health insurance could save you money at tax time

Hands up who wants to save some money at tax time? (We're presuming a lot of hands flew into the air).

If you're an Australian taxpayer eligible for Medicare without private hospital insurance and your income exceeds certain thresholds, you may be liable for the Medicare Levy Surcharge (MLS). Singles earning over $97,000 or families with a combined taxable income exceeding $194,000 could be subject to the MLS. To avoid the Medicare Levy Surcharge, consider taking out appropriate private hospital cover if your income surpasses the thresholds. Head to the ATO to read more.⁴

Getting private health cover before you hit the big 3-1 you could also save money in the long run by helping you avoid Lifetime Health Cover (LHC) loading, a government scheme designed to encourage us Australians to get private hospital cover earlier in life. If you haven't taken out or maintained private patient hospital cover starting from the year you turn 31, and you choose to get private hospital cover later in life, you'll incur a 2% LHC loading on your premium for each year you're over 30. Learn how to avoid Lifetime Health Cover loading.⁵

Not with nib and ready to take advantage of our members-only perks? Get a quote today or contact our member service team on 13 16 42. 

¹T&Cs apply. Some offers may vary or be available for a limited time. For members with private health insurance, nib Rewards are available to new health insurance members after 30 days of membership, provided premium payments are up to date.

²nib First Choice providers offer discounted fees for many commonly claimed dental treatments, many commonly claimed physiotherapy consultations, and standard discounts on their retail price for select single vision prescription glasses and other optical products, as agreed with nib. These fees and discounts are reviewed at least annually and are subject to change. Always check nib.com.au/find-a-provider or the nib App before booking to ensure your provider participates or simply ask your provider if they are part of nib’s network at the time of booking. Providers occasionally leave the nib First Choice network so it’s important to check before booking to avoid disappointment.

³Available to eligible nib members who’ve held Hospital Cover for 12 months and served their relevant waiting periods. Additional eligibility criteria apply to individual programs.

⁴If your income is over $97k for singles ($194k for couples/families) and you take out and maintain Hospital cover for the full financial year, you could avoid paying an extra 1% to 1.5% in tax via the Medicare Levy Surcharge (MLS).  Visit the Australian Tax Office website for specific rules for calculating income for MLS purposes. This information is accurate as of 1 July 2024. See the ATO website for changes that may be made to income tiers from time to time.

⁵Lifetime Health Cover (LHC) is a Government initiative aimed at encouraging people to take out private hospital cover earlier in life, and maintain it. If you don’t take out private hospital cover before 1 July after you turn 31, you’ll pay a 2% loading on top of your normal hospital premium for each year you don’t have hospital cover (up to a maximum of 70%). The loading applies for 10 years of continuous hospital cover. For every year you put off signing up for hospital cover, another 2% will be added. So if you wait until you’re 40, you’ll pay 20% more than someone on the same cover who joined when they were 31. Get more information on LHC.