- Premium and benefit changes 2018
Premium and benefit changes 2018
The minister has announced the industry average premium increase for 2018. We want you to be fully informed, we will write all members in February outlining your individual premiums.
We understand affordability of health insurance is a major concern for all members. We are committed to acting in the protection of all members, to ensure the long-term sustainability of the fund. Due to our competitive premiums, we’ve experienced a large rise than other funds in very costly hospital claims. Premiums must increase to reflect the actual claims being paid.
As a not-for-profit health fund, our aim is to maximise benefits for members. Last financial year we returned $0.97 from every dollar of premium revenue as benefits – compared with the industry average of around $0.86. And although we are facing intense cost pressures, our commitment to your health and wellness is stronger than ever.