How aia health can maximise the value of your health insurance

ARTICLE

17 August 2021

3 mins read

Wellness

Last year, we unveiled an industry-first benefit, Extras Value Protect, which allowed eligible AIA Health customers to draw value from their Extras cover – when it was challenging to use them.

A desire to help our members protect the value of their Extras while living with COVID-19 restrictions inspired Extras Value Protect.

Based on the positive feedback of the initiative in 2020, and the ongoing COVID-19 restrictions, we’re bringing it back this year to ensure our customers continue to get the most from their Extras cover – regardless of whether they’ve claimed or not.

How does it work?

With Extras Value Protect, eligible AIA Health members can get up to 100 per cent back on their Extras premium paid.

Extras Value Protect applies throughout this year and is linked to your AIA Vitality Status. As you make healthier choices, you earn AIA Vitality Points which contributes to your overall AIA Vitality Status. The higher the Status, the greater the rewards.

What’s aia vitality?

AIA Vitality is a science-backed health and wellbeing program that supports you in making healthier choices – and offers great incentives as motivation for doing so. Learn more about AIA Vitality.

On 31 December this year, we’ll consider three things:

Your AIA Vitality Status. The amount you paid in Extras premiums in 2021.

The amount you claimed in Extras during this period.

If you’ve spent more in Extras premiums than you’ve claimed in benefits, you may be eligible for a refund benefit.

Why does my aia vitality status matter?

The higher your AIA Vitality Status as of 31 December 2021, the greater your value protection, which is used to calculate your refund benefit.

Here’s how it works:

Platinum Status – 100 per cent value protection
Gold Status – 75 per cent value protection
Silver Status – 50 per cent value protection
Bronze Status – ineligible for Extras Value Protect.

For example, if:

You paid $500 in Extras Premiums.
You hold AIA Vitality Gold Status (giving you 75 per cent value protection).
You claimed $100 in Extras benefits.

Your 2021 Extras Value Protect refund would be calculated as: 75 per cent value protection applied to $500 premium, less $100 in claims, giving you $275 in refund benefit.

You can check your AIA Vitality Status by logging into the AIA Vitality website or app.

How can I tell if I’m eligible?

Extras Value Protect is available to AIA Health customers with an open combined Hospital and Extras policy who engage with AIA Vitality and achieve Silver Status or higher.

If you’re not currently an AIA Health customer, you could benefit from Extras Value Protect by taking out a combined Health and Extras policy and achieving AIA Vitality Silver Status or higher before 31 December 2021.

Staff Writer

Staff writers come from a range of backgrounds including health, wellbeing, music, tech, culture and the arts. They spend their time researching the latest data and trends in the health market to deliver up-to-date information, helping everyday Australians live healthier lives. This is general information only and is not intended as medical, health, nutritional or other advice. You should obtain professional advice from a medical or health practitioner in relation to your own personal circumstances. The information in this article is general information only and is not intended as medical, health, nutritional or other advice. You should obtain professional advice from a medical or health practitioner in relation to your own personal circumstance

Disclaimer:
This is general information only and is not intended as financial, medical, health, nutritional or other advice. You should obtain professional advice from a financial adviser, or medical or health practitioner in relation to your own personal circumstances.

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This inspirational content is brought to you by AIA Vitality

AIA Vitality is a science-backed program that helps you learn more about your health,
offers ways to improve it and motivates you with rewards along the way.

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