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RBHS only ever increase premiums in order to manage the rising cost of health care and to ensure members continue to receive value through their health cover.
The good news is that this is we are not-for-profit, which means we only charge what it costs to pay claims and run our fund.
We try to keep our costs down in other ways too, such as:
- running as efficiently as possible so we have low administration costs
- working with the Australian Health Service Alliance (AHSA) to have more bargaining power with hospitals and doctors
- working with industry bodies to push the Government for changes that make healthcare more affordable for everyone
There are plenty of reasons that we believe private hospital cover is important. Things like:
- knowing you can have access to private hospitals with state-of-the-art facilities
- being able to choose your doctor
- not having to spend months (even years) on a public hospital waiting list by going into a private hospital
- if you earn over the threshold for Medicare Levy Surcharge (currently $90,000 for singles and $180,000 for families), you may save tax by not having to pay the Medicare Levy Surcharge.
- avoiding a Lifetime Health Cover loading (by having hospital cover before you turn 31)
Besides, hospital can be very expensive and that is why having health cover is valuable. The table below shows our most expensive paid on behalf of individual members in the 2022 financial year
| Hospital claims paid in 2022 | |
|---|---|
| Admission reason | Total benefit paid |
| Digestive system | $64,154 |
| Heart and vascular system | $57,083 |
| General surgery | $55,084 |
| Heart and vascular system | $54,146 |
| Back, neck and spine | $51,423 |
When you think about health insurance, it is important to think about more than just the cost. Health insurance is about giving you more choice for your healthcare, less time waiting for the services you need and (most importantly) the peace of mind to know that you will be looked after when you need it most.
We only ever increase membership payments by what it costs to pay claims and keep our fund running. All health fund increases are reviewed and approved by the Government.
If you have paid in advance, you will not have to start paying the new amount until your next payment is due. For example, if you are paid up to 4 May 2023, you will start paying the new amount from 5 May 2023.
For more information, please call us.