Have you received a health insurance rate rise notice yet?

As many of you may or may not know, health insurance premiums will increase by an average of 2.92 per cent from 1 October.

Many funds may have already sent out letters advising you of this change. 

However, some insurers, such as CUA may raise their premiums – on average – significantly higher than the prescribed average.

Do you know if your insurer will you close to the average 2.92 per cent? Have you received a rate rise letter informing you of your new rates?

How much will you be charged? How do you feel about the increase? Why not tell with whom you are insured and how much extra you're going to have to pay?

12 comments

Sure have. I am with Westfund and was informed my price is increasing by nearly $100 per year. I would be happy if it was 3%, mine is 8%. I don't want to pay more and need to find a better deal somewhere else.

See my comments below !!

I'm with AHM and their premium was due to rise by 50 cents in July.  They've put a hold on the rise, but I don't know how long the hold is for - maybe until next July, hopefully.  I have extras cover only.

Matthew. I am same as you with Westfund and agree 100%.  I read somewhere that the health funds had a good year for profitability because of the coronavirus mainly.  That is members putting off health related operations and procedures.  So in actual fact the funds should be reducing their premiums and not increasing them !!

Yes, I'me with CUA couple membership, just been told it's increased by $240! After being with them for 30 years too! No preferential rates for being loyal! Hopeless! time to move I think...

Last month my health insurer, Teachers Union Health, advised me: 

"TUH stands alongside our members in tough times. Because we are a not-for-profit health fund, we don’t have to answer to shareholders or pay our staff sales commissions. And that means ALWAYS putting our members first.

 "This week our board and management made the decision to freeze premium increases for a further six months to April 2021, which will be the first increase since April 2019. We’re proud to be one of the first funds in Australia to commit to supporting our members in this practical way.

 "This freeze is on top of the multi-million-dollar COVID Care package we have already provided to members, including financial hardship options which have assisted hundreds of our members, telehealth services and COVID coverage on all hospital products. 

 "TUH exists solely to support our members’ health and wellbeing. Thank you for your loyalty and the trust you’ve placed in us to continue to care for and support all our members during this extraordinary time and into the future."

Sounds interesting dstark.  Would you know if TUH allows general public to join ??

TUH is open to a huge range of education-related professions, including academics, admin and support staff who are also union members. In fact, TUH membership is open to all Australian union members and their families.

If you are a current or former member of a recognised Australian union you can join TUH Health Fund.

https://tuh.com.au/who-can-join-tuh

thanks RnR

I am with NIB - premium increase of 4.6% from 1st of October.

Thanks BUPA for a 5.25% increase!

Have been with Phoenix (Newcastle NSW) for some 18 months and cannot find fault. Premium increase is only 1.7% from 1st October. Of note I did enjoy receiving a phone call from Phoenix some time ago just to see how I was going and how I was coping with lockdown in Melbourne during this pandemic. No selling just a call to see all was OK, and how good is that? 

Have paid for a year to March 31 and hope they will leave me alone till then.

Yes likewise, but I got an email from them to advise that there will be an increase of $240 on renewal! Bloody marvellous eh!

My Medibank product went up by about 5% again, with no improvement in benefits. After too many years I finally decided to take a look around which I did on the phone with a comparison service. I ended up joining AU with a lower premium, better benefits and 6 weeks for free!  Total value to me well over $1000. 

Hi Drew, can you see what the annual premium is and whether both hospital and extras and level such as silver

I haven't received mine yet..hope it's not too big a surprise. I am still going to hang on to mine however because you never know when it will be needed.

You can change providers without loss of benefits but check first with the one you may move to.

That's good to know johnp..thank you.

Anyone know of a decent comparison site ??  I dont mean the likes of ISelect, Comparethe market etc as they are commission taking orgs.  Suppose Choice mag may be an option ??

12 comments



To make a comment, please register or login

Preview your comment