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Rate Review

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Rate Review

We know that everyday Aussies, especially families, are feeling the pressure of the rising cost of living.

That’s one of the reasons why we postponed our 2023 premium increases for five months until 1 September.

We’re doing all we can to keep premiums as low as we can, while also continuing to provide the great value for money health cover you’ve come to expect from us.

But, just like inflation, healthcare costs continue to rise. And, we need to make sure we’re able to keep pace with the use and demand for health services, as well as to improved technologies, by our members.

Premiums will rise from 1 September and our members will receive direct advice from us on their new premium amounts in August.

We know you may have a few questions, so we’ve put together a few of the common ones for you here.

It’s September. Why is my premium going up now?

Earlier this year we let you know we’d be delaying our premium increase until 1 September.

While premium pricing adjustments do usually occur in April each year, we’ve been lucky enough to be able to delay increases to members on a few occasions since the COVID pandemic.

This year, we deferred the premium increase planned for 1 April 2023 until 1 September 2023, to help our members with cost-of-living pressures. This was our third premium freeze in four years.

It’s all part of being there for you when you need us the most, standing with you through the hard times … and making sure you’re getting great value from your health cover.

Why are premiums going up?

We’re doing everything possible to keep premium increases to a minimum.

We review our premiums each year with a single-minded focus on providing great value cover that puts your health first.

But because of the increasing cost of advances in technology and treatments (and the rising cost of healthcare in general), we need to ensure we’re still able to provide the quality health cover you’ve come to expect from us.

With hospital wait lists blowing out for many common elective procedures, it is important we keep premium adjustments to a minimum, so that we keep it affordable for as many Aussies as we can.

How can I make sure my payment is adjusted?

If you pay by direct debit, your new premium will automatically apply to all payments received from 1 September 2023.

If you pay by BPay or payroll, please adjust your payments accordingly.  We’re in touch with payroll groups, but it is always pays to check your premium amount has been adjusted.

If you pay us directly, your new premium amount will appear on your payment notices we send you from 1 September.

If you’ve already paid your contributions in advance of 1 September, your new rate will apply when you make your next payment. Any payments made before 1 September will be charged at the current rate.

I’d like to delay the increase and lock in my premium. Can I do this?

Our generous pre-payment option means you can lock in your current premium for up to 12 months in advance before the premium increase takes effect on 1 September.

The easiest way to make a payment is through our online Member Services portal.

Once you’ve logged in, look for ‘make a payment’ on the lefthand menu.

If you’d prefer to give us a call to make your payment, you’re more than welcome. We just want you to know that this is a busy time of year, so there may be increased call volumes at this time.

You told me I’ll get another month free in November. What do I need to do?

If you were a member of Transport Health when we merged with HCF (on or before 1 November 2021), there’ll be another one month of free health cover coming your way this November (provided you’re eligible and still hold your Transport Health cover.) This amounts to a saving of hundreds of dollars for most members.

You don’t need to do anything now. The free month will automatically be applied to your membership in November. We’ll be in touch with some details once it’s been applied to our membership.

I need to review my cover. What can I do?

As your life changes, so do your health needs. Whether you're single, married, have children, or enjoying your retirement, it’s important to take the time to review your cover so it keeps up with your changing lifestyle.

You should review your health cover many times throughout your life to keep yourself and those you love protected.

If you have any questions or would like a cover review, our Member Care team is here to help. Call the team on 1300 806 808 or send them an email to enquiries@transporthealth.com.au

What is the Australian Government Rebate on Private Health Insurance?

Most Australians with private health insurance receive a rebate from the Australian Government to help cover the cost of their premiums.

It’s the portion of your private health insurance that the government pays for you and applies to both Hospital and Extras Cover. It’s calculated based on your income, age and family status (the number of dependent children you have).

In good news for holders of private health cover, the government announced there would be no changes to rebate amounts in 2022. That means you rebate amount will remain unchanged until April 2023.

Most people choose to receive their rebate as a reduction in their premiums. However, you can also choose to pay the full premium and claim the rebate at the end of the financial year as a tax offset.

There are a lot of specific rules that might impact your personal situation and we recommend you check the ATO website carefully to determine your own situation.

If you’d like to change your rebate tier, or the way you currently claim the rebate, please just give us a call.

We don’t want to keep you hanging …

At this time of year, we receive a very high volume of calls and there may be times when you find yourself waiting on the line longer than usual. We never want to keep you waiting, so please know we’re doing everything possible to attend to your call. Our call-back option allows you keep your place in the queue, but instead of having to hold until it’s your turn, we call you back when you’re first in line, leaving you free to get on with other things.