On 19 December 2018, the Australian Government approved health insurance premium increases for all private health funds. In April 2019, CBHS will deliver an average premium increase of 3.67% (3.41% allowing for aged based discounting for 18-29 year olds). The industry average premium increase was 3.25%.
CBHS is committed to providing you with great value health insurance and we are proud to deliver benefits when they are needed most. We have again kept affordability top of mind when considering premium increases while acknowledging that claims costs have increased in 2018.
As part of the Government’s Private Health Insurance Reforms package commencing 1 April 2019, members aged 18 – 29 years will receive a discount of up to 10% on Hospital policies, and there will be increased excess levels available on some products to help provide more affordability options for all members. View this short video for more information about the Private Health Insurance Reforms.
Thank you for your continued support of CBHS and trusting us with your health insurance needs. We will write to you in late February with the specific details of your individual premium increase once the Federal Government advises the level of Australian Government Rebate on private health insurance that will apply from 1 April 2019.
As always, we are happy to answer your questions. Further information regarding premium increases is available here. Alternatively please get in touch with our Member Care Team by email email@example.com or by phone on 1300 654 123.