Switching Health Funds

Despite the assumption, switching health funds can be relatively simple and easy. Most health funds have the ability to contact your old fund and cancel your old policy for you. Here are a few general questions regarding switching.

Will my waiting periods be recognised?

If you are maintaining continuous cover, all applicable waiting periods that you’ve served with your old health fund will be recognised by your new health fund. This includes crediting the time you’ve served under waits. ie. If you’ve served 6 months of a 12 month waiting period, you will not have to start again but instead just serve the remaining time.

You will only have to commence a waiting period if;

  1. You’ve not held health insurance in the past 30 days, or
  2. You’ve acquired new or higher benefits.
Will I have fresh extras limits?

Along with your waiting periods, any extras claims that you’ve made in the past year will be ported across and recognised with your new fund.

For example, if you have made $200 worth of dental claims with your old fund, this $200 will be subtracted from your dental limits from your new fund. This would mean that you’d have $600 available of the total $800 limit, until the next rollover (which usually occurs at the 1st of January each year, depending on your fund).

What is a Clearance Certificate?

A Clearance Certificate, also called a Transfer Certificate, serves as a record of your health insurance cover. The certificate confirms the following details:

  • Type of cover (e.g. hospital, general treatment, combined),
  • Level of cover,
  • Your join date,
  • Your cancellation date,
  • Your Lifetime Health Cover (LHC) Certified Age of Entry, and
  • A history of your recent claims.

In accordance with the Private Health Insurance Act 2007 your old health fund has 14 days to issue your Clearance Certificate.

“HIA simplified the process of sorting through the various policies available. It was an exceptionally quick and easy process.”

- Rebecca Crook, VIC