On Monday 23 December 2013, the Australian Minister for Health, Peter Dutton, announced that health insurance premiums will be changing, effective 1 April 2014.
HCF members will receive notification of the changes to their premiums from Monday 3 March 2014.
Why health insurance costs go up
HCF continues to pay more for members’ health care.
Last financial year our health care benefits increased by 11% to over $1.89 billion. Advances in medical technology and the increasing use of these benefits drive this increase.
Here are some examples of how we supported our members:
- Total hospital care benefit payments increased by
12% to $1,327 million;
Medical services benefit payments increased by
13% to $217 million;
Prosthesis benefit payments increased by
12% to $181 million;
Dental benefit payments increased by
12.2% to $239.8 million;
Optical benefit payments increased by
16.8% to $67.8 million;
Physiotherapy and chiropractic benefit payments increased by
7.4% to $70.1 million.
Where your member contributions go
Benefit payments for our members’ hospital and extras claims exceeded $1.89 billion. This was made up of:
446,321 hospital admissions for 229,392 members
$217 million in Medical services
$430 million in Extras services
When was the last time you reviewed your health cover?
As your circumstances change, your health cover needs can change. We’re here to help you decide the right cover for your life stage.