Why keeping healthy is costing us more!

What you need to know

In 2019 we paid around $629.8 million in claims

Like many developed countries, Australia’s healthcare costs are rising well above CPI and wages, putting pressure on health cover premiums.

The key factors driving these health costs are also what we expect from a high quality healthcare system. Medical technology is more expensive but it also provides advances in treatment. We're generally healthier and living longer but often with higher rates of chronic disease and increased use of healthcare services.

We’re committed to delivering value to our members with a continued increase in the average benefits paid per policy and our lowest average premium increase in 19 years.

Average benefits paid per policy 2015 2016 2017 2018 2019 $2,946 $2,939 $3,050 $3,121 $3,375
Australian Government Private Health Insurance Rebate

The rebate is an income tested amount the government contributes towards the cost of your private health insurance premiums. The rebate percentage, which is indexed annually by the government, is decreasing again this year meaning members who are eligible for the rebate will pay a larger proportion of their premium from 1 April 2018.

Base Tier Tier 1 Tier 2
< age 65 Current 25.059% 16.706% 8.352%
From 1/4/2020 24.808% 16.539% 8.268%
Age 65-69 Current 29.236% 20.833% 12.529%
From 1/4/2020 28.944% 20.674% 12.404%
Age 70+ Current 33.413% 25.059% 16.706%
From 1/4/2020 33.079% 24.808% 16.539%
We're living longer

The average age of the Australian population continues to increase* meaning the demand for health services is on the rise. Australians, young and old, are using more healthcare services.

*Australian Demographic Statistics, June quarter 2019

Community Rating

In Australia, as part of the Private Health Insurance Act, we have ‘community rating’. That means we don’t base the cost of your health cover on your age, gender, ethnicity or health status. This creates a fairer system where all who have health insurance share the overall cost of healthcare.

Learn how to get more value from your health insurance

Tips to help you save

We've put together 6 simple tips to help you get the most from your health insurance and to help you save.

Learn how

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