Revealed: Who’s really providing your Health Insurance?

There’s a new provider offering Health Insurance every other week, but behind the scenes it’s just the established players putting new brands on their products.

There’s a new provider offering Health Insurance every other week, but behind the scenes it’s just the established players putting new brands on their products.

It seems like there’s a new brand selling Health Insurance every other week: Qantas now offers health cover, as do traditional insurers like AAMI and Suncorp – and online retailer Kogan.com is preparing to launch.

But most of these newcomers don’t provide the actual cover: they ‘white-label” the products of established providers.

So who’s really providing your health insurance? Below is our rundown of who owns which brands, to help you when shopping around for better value before the April 1 premium increase.

SUNCORP: Home and car insurance giant Suncorp teamed up with health fund NIB to target older Australians a few years ago, creating APIA Health Insurance. Suncorp then followed up with two more of their biggest brands, launching Suncorp Health Insurance and AAMI Health Insurance. Most covers are identical to NIB except for the brand.

QANTAS: Qantas’s “Assure” Health Insurance was created with NIB also, but features various exclusive elements such as the ability to earn frequent flyer points by exercising and paying your premiums.

AHM: This is the budget or ‘Jetstar brand’ of leading fund Medibank, which was government-owned until 2014 and has about 1 in 4 of all customers nationwide. Policies are different and branding is pitched more at bargain-hunters and people wanting ‘no frills’ cover.

KOGAN: Not yet on sale, but has announced it will also sell ‘white-labelled’ Medibank Health Insurance under the online retailer’s own brand.

Frank: This is the budget brand of Geelong-based not-for-profit Health Fund GMHBA, which also owns another relatively new health insurance provider called health.com.au

BRAND ACTUAL PROVIDER
Apia NIB
Qantas NIB
AAMI NIB
Suncorp NIB
Frank GMHBA
health.com.au GMHBA
ahm Medibank
Kogan Medibank
* In highlighting particular offers we are not making specific recommendations as this article does not cover all available products and may not compare all features relevant to you. Any advice provided is general in nature and does not take account of your needs, objectives or financial situation. Individuals should consider their own circumstances, and if in doubt seek appropriate advice, before proceeding.

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