Savings tips: How to turn healthy lifestyle choices into giftcards and discount health insurance

These are the health insurers offering discounts and giftcards to reward active lifestyles.

Healthy lifestyle choices can boost not only your wellbeing but your wallet, with health insurers rewarding members with everything from petrol vouchers to money off their premiums.

More than 45 per cent of Australians have some form of hospital cover, according to June figures from the Australian Prudential Regulation Authority, and many are signed up to wellbeing and loyalty programs through their insurers.

WHO IS OFFERING REWARDS

Half a million people are part of Medibank’s Live Better program alone.

Live Better helps people track their activity and awards points when targets are met.

Since the program was launched in 2019, Medibank Group executive Milosh Milisavljevic says members have completed more than 4 million challenges and goals, and taken 380 billion steps – about 7200 laps of the Earth.

The most engaged Live Better members have redeemed almost $10 million in rewards, including $2 million worth of premium and excess reductions and free physio, chiro and remedial massage services.

“By making small changes to their everyday activities, our members are earning thousands of points each month, which they can then redeem as vouchers for Adidas, Amcal chemists and Hello Fresh, or purchase Apple products like AirPods,” Mr Milisavljevic says.

“They can also choose to reduce their out-of-pocket costs when they go for a dental check-up, get their eyes checked or even reduce their annual premium by $200.

“We also reward members for preventive health activities like getting a Covid vaccination, blood pressure and skin checks, as well as dental check-ups.

“With interest rates continuing to rise and cost of living increasing, people are finding new ways to keep on top of their budget.”

Bekki Fisher has tracked every stretch, sleep, snack, and step to gain points and savings. Picture: Supplied

Over the last two years, Bekki Fisher has lost 30kg and gained a whole range of savings.

As a Medibank member collecting Live Better points, she turned 7000 daily steps, seven hours of sleep a night and one minute of daily deep breathing into five pairs of Adidas sneakers plus some activewear.

“I tracked every single stretch, sleep, snack, and step,” the Toowoomba resident says.

“Every time I wanted to give up, a reminder on my phone to track my movement kept me going.”

AIA also runs a rewards program – AIA Vitality – which allows members to earn points by completing health assessments and preventive health screenings or meeting physical activity targets.

Points in turn contribute to their overall AIA Vitality Status, which determines the level of discount they receive on rewards.

For example, a Silver status AIA Vitality member receives a 5 per cent discount on their health insurance premiums, 100 per cent refund on hospital excess for eligible clinical categories, and an additional 10 per cent back on extras (excluding dental).

AIA Australia’s Damien Mu. Picture: Supplied

In 2021 alone, AIA Australia chief executive Damien Mu says AIA Vitality members completed nearly 300,000 health and wellbeing assessments, visited the gym nearly 500,000 times and received more than $3 million in Active Benefits Rewards for keeping active.

“(Since 2014,) members have claimed $29 million worth of Shopping Rewards, $14 million worth of Active Rewards and 6000 members have taken up the opportunity to earn an Apple Watch by achieving their physical activity targets each week,” he says.

AIA Vitality points are also available to members of some other partnering heath insurers, such as GMHBA.

Meanwhile, NIB members have their own loyalty program.

They receive free access to Green Pass – a program that offers discounts for more than 100 retailers – and can unlock further rewards by downloading the Well with NIB app then earning points for completing health questionaries and tracking activities such as steps, sleep, bike rides and mindfulness sessions.

Rewards include discounted egiftcards for stores such as Coles, Kmart, Myer, Lorna Jane, The Iconic and UberEats.

NIB’s Ed Close. Picture: Supplied

NIB chief executive Australian residents health insurance Ed Close says the insurer’s broader rewards program had resulted in $1.3 million in savings for members since 2018.

“We have seen great take up,” he says.

“It’s predominantly about delivering value beyond their health insurance policy and their relationship with NIB.

“It’s to recognise and reward loyalty and recognise and reward people looking to engage in healthy behaviours.”

OTHER WAYS YOUR INSURER CAN SAVE YOU MONEY

HCF, on the other hand, does not link discounts to healthy activities but offers eligible members services such as free online mental health treatment programs and dietitian-led nutrition and weight management support.

The insurer’s loyalty program, HCF Thank You, also offers discounts from partner brands including Woolworths, JB Hi-fi, Harvey Norman, Rebel and SportsCamps Australia.

Similarly, Bupa members have access to the Bupa Plus rewards store, which includes discounts for items such as fitness watches, training shoes, gym memberships, theme park tickets and spa treatments.

Members can also link their Woolworths Everyday Rewards for triple points on fresh fruit and vegetables and Macro Wholefood Market products for 60 days and access to boosters that help them collect more points on their shops.

They can also link to their Benefit Pocket account for further cashback offers and online courses covering topics such as skincare and sleep.

REWARDS PROGRAMS AREN’T FOR EVERYONE

However, not all insurers offer rewards and loyalty programs.

Market research conducted for HIF in 2020 finds half of respondents say they would be less likely to stay with HIF if they offered a program, with many believing it would be paid for by higher premiums.

HIF chief executive Justin James says loyalty does not grow overnight and programs are often widely misunderstood, expensive and resource intensive.

Originally published as Savings tips: How to turn healthy lifestyle choices into giftcards and discount health insurance