Committed to supporting our members
The RBHS is a proud not-for-profit private health insurer and we are committed to supporting our members through the COVID-19 pandemic. We thank you for your loyalty throughout this challenging time.
The last two years have been hard for all of us during COVID. The RBHS has experienced lower claims than expected since the start of the pandemic. As a result, we have refunded a total of approximately $525,000 in claim savings to our members with the amount dependent on the type of policy you hold with us.
In total, we have provided support to members to the value of approximately $825,000 since 2020 with a range of COVID-19 support packages including:
- This return of approximately $525,000
- Postponing the 2020 premium increase by 6 months
- New member benefits like telehealth services on our extras cover
- COVID-related benefits
- Additional measures to assist for financially vulnerable members
Premium Rise 1 April 2022
You should have received communication from us by now about an increase to your RBHS premiums from 1 April 2022. If you cannot find anything in your inbox or mailbox from us, please let us know as soon as possible.
Premium increase FAQs
In short, we need to be able to pay members’ claims. Despite fewer claims last year, the underlying costs per claim are rising. As we see claims returning to normal levels, the cost impact to your premiums will rise in tandem.
Last financial year we set aside over $13.95 million for member benefits out of $16.84 million in premiums (or 83% of our revenue). We provided support to members to the value of approximately $825,000 since 2020 with a range of COVID-19 support packages including the return of approximately $525,000.
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
- The Australian Government Rebate on Private Health Insurance is rounding to the nearest cent from 1 April 2022. It used to round up to the nearest 5 cents.
- This change only affects members who claim the rebate.
- In good news this year, the government is not reducing the rebate percentage that members can claim on their premiums.
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 some of our claims paid on behalf of members in 2021:
|Hospital claims paid in 2021|
|Admission reason||Total benefit paid|
|Infrarenal abdominal aortic aneurysm||$49,319|
|Pain management with device||$37,989|
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 2022, you will start paying the new amount from 5 May 2022.
For more information, please call us.