AAMI Health Insurance
ACA Health
ahm
AIA Health Insurance
Allianz Care Australia
APIA Health Insurance
Astute Simplicity Health
Australian Unity
Bupa Health Insurance
CBHS Corporate
CBHS Health
Defence Health
Doctors Health
Emergency Services Health
Frank
GMHBA
GU Health
HBF
HCF
HCi
Health Partners
HIF
Hunter Health Insurance (by CDH Benefits Fund)
ING Health Insurance
Latrobe Health Services
Medibank
Mildura Health Fund
Navy Health
nib
Nurses and Midwives Health
onemedifund
Peoplecare
Phoenix Health Fund
Police Health
Priceline Health Insurance
Qantas Insurance
Queensland Country Health Fund
Real Health Insurance
Reserve Bank Health Society (RBHS)
rt health
see-u By HBF
Seniors Health Insurance
St Lukes Health
Suncorp Health Insurance
Teachers Health
Territory Health Fund
Transport Health
TUH
UniHealth
Union Health
Westfund
A Private Health Insurance premium is the amount you pay each month or year for:
Your Private Health Insurance premium may increase when hospital, medical or other health costs rise. They can also increase if health insurer members increase their use of health services.
If your insurer experiences or expects an ongoing increase in costs, it may increase your premium to remain financially viable.
Your insurer must take these steps before increasing premiums:
Step 1:
Before increasing premiums, your insurer must submit details of the proposed increase to the Australian Government. In any submission, your insurer must provide detailed financial information and benefit projections to justify any increase. An accredited professional actuary must certify this information.
Step 2:
The Australian Department of Health and Aged Care along with the Australian Prudential Regulation Authority (APRA) examine the proposed increase.
Step 3:
The Minister of Health approves the rate increase. If your insurer cannot provide sufficient information to show the Minister that an increase is necessary to meet its obligations to pay benefits to members, there is no change to the premium.
If your insurer informs you your health insurance premium is increasing and you feel you cannot afford the increase, you have 3 options:
Option 1:
Talk to your insurer or other insurers about a cheaper policy that still meets your needs.
Option 2:
Increase your excess or your co-payment if you are admitted as a private patient to hospital.
Option 3:
Reduce the number of benefits you receive as part of your Extras Cover.
