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Use the moneytime comparison engine to find the right health insurance for you
Frequently Asked Questions
Moneytime and Me
- Will using your service cost me anything?
- Which Health Funds do you represent?
- What if I already have health insurance?
- How do I know your information is accurate?
- Why should I shop with you rather than buying my insurance plan elsewhere?
- Will my premium ever be higher than the cost indicated by Moneytime?
- Do I have to provide my private information?
- What is myMoneytime and how does it benefit me?
- How do you protect my private information?
- Who do I contact if I haven't heard from the Fund I've joined?
Private Health Insurance
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Participating Health Funds
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FAQs: Moneytime and Me
Will using your service cost me anything?
No, the moneytime comparison engine costs nothing to use. All our services are free, because our fees are paid by the Health Funds that we represent, in the form of a commission when someone elects to purchase their product from our site. We guarantee that the price you pay on Moneytime is the same as you would receive if you applied online directly to the Health Fund - including special offers.
Which Health Funds do you represent?
Funds who have chosen to partner with us believe that we provide a quality marketing channel through which they can reach people with their products, are comfortable to allow their policies to be compared in an impartial manner, and are happy with a fee structure based on the business we bring them.
Moneytime partner Funds include:
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We are continuing to work with other major Health Funds who are not represented on our site to further broaden the range of options available to you on Moneytime.
What if I already have health insurance?
If you already have health insurance but have found a better deal on the Moneytime website, you can transfer to the new plan by joining online with us. Simply provide the details of your current policy on your Moneytime application form, and the Health Fund you are applying for cover with will send you a form to finalise the transfer - it's that easy.
Also, any waiting periods you have already served under your old cover will be credited to your new cover as long as it is at a comparable level, so you won't have to serve them again.
Please note that any benefits claimed with your old policy may be considered and deducted from the benefit limits under your new policy within the same year. If there is a lifetime benefit limit that has been exhausted, the full associated waiting period will have to be served with the new policy before the benefits are made available to you.
How do I know your information is accurate?
All our information is sourced from a database that our partner Funds keep up to date for regulatory purposes, ensuring that the information on our site is accurate and current.
Why should I shop with you rather than buying my insurance plan elsewhere?
There are several reasons why we believe Moneytime is the choice for you:
Range: we are not a Private Health Insurance Fund ourselves, so are able to offer a broad range of choices from multiple Funds around Australia. Our comparison engine also makes it easy to focus on the cover that suits you, so you can make the right decision about which policy to take out.
Transparency: we ensure that we provide enough information on the covers that suit your requirements so you are able to make an informed decision without interference. Our system is completely impartial, we do not try to influence you with recommendations or interfere with your natural process of selection - we simply make it easy for you to find the cover you want.
Price: our prices are direct from the Funds to you, exactly the same as buying directly from the Funds themselves. We also ensure that you get special deals and discounts from our partner Funds from time to time, so you get the best deal possible.
Will my premium ever be higher than the cost indicated by Moneytime?
The premium we show on our website - as with most Health Funds and other related sites - is the monthly premium you can expect to pay including the Federal Government 30% Rebate and no Lifetime Health Cover loading.
Your actual premium may be higher if you choose to claim your rebate a different way or if you have a Lifetime Health Cover loading. Your actual premium may also be lower if you are aged over 65, as you will be eligible for a higher level Federal Government rebate.
Do I have to provide my private information?
You can browse around our site and compare different health insurance policy options without disclosing any of your personal details. The only time you'll need to provide any information is when you want to apply for cover or register for My Moneytime.
What is myMoneytime and how does it benefit me?
myMoneytime is your personal space where you can store information, including an application form you'd prefer to finish later or the details of your Moneytime transactions. As Moneytime grows, you will be able to manage and track all the Moneytime services we are preparing to offer using our innovative comparison engine, such as your home loan, mobile phone plan and other financial and banking products.
How do you protect my private information?
At Moneytime, we take security seriously. We use industry standard sockets layer (SSL) to protect all your personal and transactional information by ensuring it is encrypted before transmission. All data is processed on a secure server designed to safeguard your privacy. For extra peace of mind, the security of our website has been certified by web security experts, Thawte. See our Privacy Policy for more information.
Who do I contact if I haven't heard from the Fund I've joined?
Immediately after you have submitted your application, we provide you with the details of what happens next, on a page that includes a Moneytime reference number. If you are concerned that the Fund has not responded in the time that is indicated on this page, please call Moneytime on 1300 851 212 or email us at help@moneytime.com.au
FAQS: Private Health Insurance
Am I eligible for the Federal Government Rebate?
Yes ? all Australians eligible for Medicare receive a minimum of 30% rebate on their health insurance from the Federal Government. Those aged between 65-69 receive 35% rebate and those over 70 years old receive 40% rebate.
A 30% rebate amount is included in the premium that you see on Moneytime, as it is the most commonly-used figure amongst the Funds themselves, and also the Government database held by the industry ombudsman, PHIO. Even though it may not match your own circumstances exactly, it provides a common starting point for comparing between Funds.
You may prefer to pay the full premium without the rebate, then claim it when completing your tax return or as a cash amount from your local Medicare office. It's your rebate, your choice.
Do I have to serve a Waiting Period?
The Waiting Period, usually indicated in months, is the initial period from the time you take out the policy to when the benefits for particular features become available to you. For example, if the Waiting Period for Pregnancy/Birth Related Services is 12 months, that means you are not covered for those services until 12 months after you start your health cover.
If you are transferring from one policy to another and have already served your waiting period, then you do not have to serve it again as long as the level of cover is comparable. However, if your new policy has new or higher level benefits, then you may need to serve a new waiting period before the increased benefits become available to you.
What is a Pre-Existing Ailment and how does it affect me?
A Pre-Existing Ailment is any illness or condition that you had signs or symptoms of during the six months before you purchased health insurance - this includes conditions that had not yet been diagnosed by yourself or your doctor prior to taking out your cover. As a general rule, most Health Funds have a Waiting Period of 12 months for Pre-existing Ailments, except for psychiatric care, rehabilitation or palliative care, which each require a two month wait only.
What's the difference between an Excess and a Co-payment?
An Excess is the amount of money you pay towards hospital treatment regardless of the number of days you are in hospital. Some Funds charge the Excess for your first admission to hospital while others charge the Excess every time you are admitted, so be sure to read the policy details.
A Co-payment is the amount of money you agree to pay for each day that you are in hospital, up to an agreed amount. For example, a Co-payment agreement of $50 means that you pay $50 for each day you are in hospital. There is usually an upper limit to the total number of Co-payments you will be required to make in a year, or for each stay in hospital.
Should I take out a policy with an Excess or Co-payment?
That depends entirely on your personal circumstances and requirements. If you are interested in lowering your premium in exchange for paying an agreed sum for any hospital visits you may need to make, then it is worthwhile checking out your Excess or Co-payment options. It's easy to see the trade-off with Moneytime - each time you click on a different Excess or Co-payment option, the premium will change instantly to show you the difference.
How do I know if I have Lifetime Health Cover?
If you took out Private Health Insurance before 1 July 2000 or before 1st July following your 31st birthday, and have had continuous cover since then, you will retain a Lifetime Health Cover age of 30 for as long as you continue coverage. For those with a loading (2% for each year with no private health insurance after 1st July following your 31st birthday up to a maximum of 70%), 10 years of continuous private health cover is rewarded by removing any loading you have accumulated, so you can start afresh with a Lifetime Health Cover age of 30 - no matter what your actual age.