HCF launches affordable extras offering

New experience aims to help young Australians amid rising cost-of-living

HCF launches affordable extras offering

Life & Health

By Roxanne Libatique

HCF has launched a new extras offering amid the rising cost-of-living and evolving health needs of young Australians.

Called “Flex My Extras,” the offering enables singles and couples aged 18 to 39 to spend their limits on the extras they want, including online mental health support, teeth whitening, acupuncture, and vaccinations. It offers 100% back on a dental checkup, a flexible single limit of $650 for other services, and an optical limit of $175 per calendar year.

“At a time when budgeting and cost cutting are paramount, affordable, flexible health cover has never been more relevant. ‘Flex My Extras’ empowers our younger members to create tailored cover that delivers the value they genuinely want,” said HCF CEO Sheena Jack. “By simplifying the healthcare experience, we’re letting members choose the extras cover that resonates with them most, which, for this younger cohort, includes dental, mental health, physio, optical, and acupuncture. It puts the choice back in their hands.

“Reshaping how Australians see and use their extras cover, ‘Flex My Extras’ also provides an opportunity for younger members to better grasp how extras cover complements Medicare to support their overall health and wellbeing.”

Young Australians need Extras health cover

HCF’s latest research found that 84% of Australians aged 18 to 39 will need Extras health cover in the next 12 months. Of those who need the cover, more than 78% prioritise dental and teeth whitening, followed by optical (41%) and mental health services (40%).

The insurer also found that millennials prioritise dental or teeth whitening and optical over Gen Z, while Gen Z deem coverage for mental health services more important.

In response to the escalating expenses of daily life, 8 in 10 young Australians (83%) prioritise value for money or cost than other factors when choosing to take out extras health cover, followed by the need for flexibility of choice (51%  and ease of use of the product (51%).

Lorraine Thomas, chief officer, product & diversified business, at HCF, said Flex My Extras includes a Gap-Bonus feature to help members eliminate or reduce out-of-pocket costs on any of the services they are covered for. It also increases up to the third year the members are with HCF.

“‘Flex My Extras’ is a testament to how we’re putting our money where our members are and our commitment to delivering affordable, accessible healthcare solutions for all Australians,” Thomas said.

HCF also recently launched a QR code claiming solution for extras services to make the claims process more efficient.

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