Health Partners announces average premium increase with benefits maintained
Following approval from the Federal Health Minister, Health Partners, South Australia’s largest not-for-profit health fund, announced an average premium increase of 3.95% - in line with the industry average.
Health Partners CEO Byron Gregory said “as a member-owned health fund, Health Partners is focused first and foremost on ensuring its members have access to affordable, quality healthcare that provides genuine value.”
That is reflected in Health Partners’ commitment to only increase premiums by the amount necessary to cover the rising cost of healthcare and increased demand, while still providing uncompromised access to quality care and services.
“Health Partners has contained premiums and importantly still maintained the level of benefits for all types of cover”, Mr Gregory said.
Being member-owned, Health Partners operates on lower margins and can therefore give more back to members - returning 91 cents in the dollar in benefits against an industry average 86 cents.
“We’ve also invested in new member hubs in the CBD, Modbury and Morphett Vale giving members access to care and services where and when they need them most.
“Additionally, we own and operate our own Dental and Optical Centres, which affords us much greater cost control and allows us to pass on greater benefits to our members.”
The average premium increase of 3.95% to take effect from April 1, 2018 is an average across all Health Partners policies and members will be notified in early March of changes specific to their cover.
Also, from April 1, the rebate percentage as set by the Federal Government, completely independently of health funds, will be lowered. That means in some instances where there has been no increase in the premiums, members across all health funds may still experience an increase in the amount they pay, based solely on the reduction in the Government rebate.
For more information on changes to the Australian Government Rebate or private health insurance, please visit www.privatehealth.gov.au.
“Health Partners will continue to work with Government and health providers to identify ways to keep private health insurance as affordable as possible and to ensure it delivers real value,” Mr Gregory said.