nib Health Insurance Review

nib offers a range of health insurance options designed to suit different needs. Their policies are built to give you flexibility, so you can choose a level of cover that works for your lifestyle and budget.

If you need treatment in a private hospital, you can choose from different levels of cover, depending on what services matter most to you. At the basic level, there’s Basic Accident Hospital, followed by Basic Care Hospital Plus, Bronze Protect Hospital Plus, Silver Advantage Hospital Plus and at the very top, Gold Hospital cover.

nib’s extras cover helps with the cost of everyday health services – things like dental check-ups, physio appointments, new glasses, and even gym memberships.

With nib, you can mix and match hospital and extras cover to create a policy that fits your needs.

When you join nib or upgrade your existing cover, certain waiting periods apply before you can start claiming benefits.

Hospital Services Waiting Periods

• 1 day: Accidental injury benefit and emergency ambulance cover.
• 2 months: Hospital psychiatric services, rehabilitation, palliative care, and other conditions requiring hospitalisation that aren’t pre-existing.
• 12 months: Pre-existing conditions (an illness or condition evident at any time during the 6 months immediately prior to joining nib).

Extras Waiting Periods

For extras cover, waiting periods vary depending on the service. General dental has a 2-month waiting period, optical typically has a 6-month waiting period, and major dental requires a full 12-month wait.

If you’re switching to nib from another health fund with the same or lower level of cover, nib will honour any waiting periods you’ve already served. However, any extras claims you’ve made during the current calendar year will count towards your new annual limits. If you’re upgrading to a higher level of cover or adding new services, you’ll need to serve the waiting periods for those additional benefits.

nib offers a range of extras cover options, allowing you to tailor your policy to suit your health needs and budget. From routine check-ups to more comprehensive treatments, nib’s extras cover can help with the cost of everyday health services like dental, optical, physiotherapy, and more.

There are two core levels of cover

• Core Extras, which covers a range of essential services with 60% back on each visit, plus unlimited preventative dental.
• Core Extras Boost, which covers the same services as Core Extras but with higher annual limits for greater value.

Other Extras Cover Options

• Value Extras: A budget-friendly option that provides 50% back on essential services such as general dental, optical, and physiotherapy, up to your annual limits.
• Basic Extras: A straightforward plan with 100% back on select services—perfect if you primarily need cover for routine check-ups.
• Advantage Extras: The most comprehensive extras cover, offering 70% back on a broad range of treatments, including major dental, psychology, alternative therapies, and optical.
• Dental Boost: Specifically designed for those seeking extra cover for major dental treatments, such as crowns, bridges, and orthodontics.

Bolt-On Extras – Wellbeing, Family & Young at Heart

For even more flexibility, nib offers bolt-on extras options to complement your Core Extras or Core Extras Boost cover:

• Wellbeing Extras: Great for young adults, covering services like remedial massage, acupuncture, and other wellness therapies.
• Family Extras: Ideal for families, with benefits for orthodontics, speech therapy, and podiatry.
• Young at Heart Extras: Tailored for seniors, covering hearing aids, preventative health checks, and more.

Please note: Bolt-on extras cannot be purchased as standalone products. They must be combined with either Core Extras or Core Extras Boost.

Mix-and-Match Flexibility with Health Deal

One of the key benefits of signing up through Health Deal is the ability to mix and match your extras cover. You can combine multiple extras options—like Core Extras with Wellbeing & Young at Heart, or Core Extras Boost with Family Extras—to create a policy that delivers the best value and suits your personal needs.

Through the nib Rewards program, you can enjoy discounts on major brands, earning points on selected offers to unlock even more savings.

For dental care, nib’s No Gap Dental Network allows you to get 100% back on preventative dental check-ups at participating providers, helping you maintain your oral health without additional costs.

In terms of optical services, nib has partnered with providers like Specsavers to offer members discounts on a range of glasses and lens options.

To make managing your health cover easier, nib also provides a free nib app, allowing you to quickly submit claims, review your cover, check annual limits, update details, book GP telehealth appointments or take a free health check.

Additionally, nib offers Health Management Programs to help you manage conditions like joint pain, weight, diabetes, heart health, and mental health.

These programs are available at no extra cost for eligible members and are delivered by qualified health professionals

The cost of nib health insurance depends on things like the type of cover you choose, your age, and where you live.

If you’re looking to lower your premium, nib gives you the option to adjust your excess – the amount you pay if you need hospital treatment. Choosing a higher excess means you’ll pay less for your policy, while a lower excess will increase your premium but reduce what you pay out-of-pocket if you go to hospital.

To make private health insurance more affordable, the Australian Government offers a Private Health Insurance Rebate. This rebate is based on your income and can be applied directly to your premiums or claimed back at tax time.

nib provides a range of flexible payment methods, allowing you to manage your health cover in a way that suits your lifestyle and budget.

Best Value Option – Direct Debit from a Bank Account

• 4% Discount: The most cost-effective way to pay for nib health cover is via direct debit from a bank account, offering a 4% discount compared to other payment methods.
• Easy Setup: Members can establish or update their direct debit details through their nib member account or the nib App.
  Important Note: This discount does not apply to credit card payments.

Other Payment Methods

• BPAY: Make payments via internet or phone banking using nib’s Biller Code: 364158 and an 8-digit Reference Number (your member number).
• Direct Debit from Credit Card: Set up automatic payments using Visa, Mastercard, or American Express via your member account or the nib App.
• One-Off Credit Card Payments: Pay as needed through your nib member account, the nib App, or by contacting nib directly.
• Australia Post:
• Online: Use the Australia Post website with Visa, Mastercard, or PayPal.
• In-Person: Visit Australia Post outlets and pay over the counter using the barcode on your nib card or payment reminders. nib’s Billpay code is 0263, and payments typically take three business days to process.

These options provide flexibility, but members looking for the best savings should consider setting up direct debit from their bank account to take advantage of the 4% discount.

Managing your health insurance with nib is easy thanks to their digital tools and account management. The nib app, available for iOS and Android, lets you submit claims just by snapping a photo of your receipt, making reimbursements quick and simple. The app also gives you access to a digital membership card, so you can easily show proof of cover at appointments. You can check your extras balance, find healthcare providers, and update your policy details, all from your phone. If you prefer using a computer, nib’s online member portal gives you full control over your policy.

nib works with a large network of private hospitals across Australia. When you choose a hospital that has an agreement with nib, you’ll typically pay less out-of-pocket since services are provided at a contracted rate. Beyond hospital care, nib’s First Choice Network connects you with trusted healthcare providers, including dentists, physios, and optometrists, who offer services at competitive rates.

You can manage your health insurance through the nib app, or you can call nib’s customer service team at 13 16 42 within Australia or +61 2 9692 4300 from overseas. You can also chat online with a member of customer support via the chat function. Their support hours are Monday to Friday, 8:00 AM to 8:30 PM AEST/AEDT.

Switching to nib through Health Deal is quick and simple. Health Deal takes care of the entire process for you, so you don’t have to worry about paperwork or contacting your old health fund. Here’s how it works:

1. You’ll need to provide some basic information, including your Medicare card number, previous health fund member number, and payment details.
2. Once your application is submitted, Health Deal securely sends your details to nib to start the switching process.
3. nib will contact your old health fund to request a transfer certificate. This document confirms the waiting periods you’ve already served, so you won’t have to re-serve them.
4. Your previous fund will cancel your direct debit and refund any prepaid premiums on a pro-rata basis. This usually takes around 10 business days.
5. You’ll receive a welcome email from Health Deal and nib, along with your new nib membership card in the mail. nib may also give you a welcome call to help you get started with your new cover.
6. Your payments will be set up during sign-up, so once everything is processed, you can start using your new health cover right away.

Here’s a basic look at how NIB compares to other major Australian health funds.

• Flexible cover options for singles, couples, families, and overseas visitors.
• Easy claims and policy management with the nib mobile app.
• MediGap scheme helps minimise out-of-pocket costs for specialist treatments.
• Unlimited emergency ambulance cover on all hospital policies.
• Accidental Injury Benefit (Gold-level cover for 90 days if treated within 72 hours).
• Access to nib Rewards, including discounts on dining, groceries, fitness, and movies.
• First Choice network helps reduce costs with preferred healthcare providers.
• Free Health Check and skin cancer risk assessments for members.
• Solid digital tools, great customer support, and a growing network of providers.

1. What does nib stand for?

nib originally stood for Newcastle Industrial Benefits when it was founded in 1952. Today, it’s just known as nib and focuses on providing health insurance across Australia and New Zealand.

2. Does nib cover dental?

Yes, nib offers Extras Cover, which includes dental services like check-ups, fillings, and major treatments, depending on your level of cover. If you visit a First Choice Dentist, you can also get lower out-of-pocket costs.

3. Who owns nib?

nib is an Australian-owned company listed on the Australian Securities Exchange (ASX). It started as a not-for-profit fund but is now a publicly traded company, meaning it’s owned by shareholders.

nib is a trusted health fund in Australia with a range of cover options to suit different needs. If you’re looking to compare policies, Health Deal’s Insurance Comparison tool makes it easy to see how nib stacks up against other health funds in terms of coverage and cost. If you need help choosing the right policy, you can chat with an expert by emailing enquiries@healthdeal.com.au or calling 1300 369 399. Get in touch today for personalised advice and find the cover that works for you.

This guide is for informational purposes only and should not be taken as medical or financial advice. Health Deal is proud to partner with NIB. While we strive to provide accurate and up-to-date information, health insurance policies and benefits may change. Always check with a financial professional before making any decisions. Health Deal compares selected products from a panel of trusted insurers but does not compare all products in the market. For current information, please refer to nib’s official website or speak with one of our health insurance experts. Information sourced from nib, accessed 7 February 2025.