Coronavirus: Private health funds delay premium rises for six months
Major health funds will delay their April 1 premium rise for six months amid the coronavirus crisis, saving their members hundreds of dollars.
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Major health funds will delay their hefty April 1 premium rise for at least six months saving their members hundreds of dollars.
BUPA, Medibank, NIB and HCF and 20 other funds caved into public pressure after News Corp revealed they would save hundreds of millions of dollars as a result of a government ban on non-urgent surgery because of COVID-19.
Many people are also unable to access extras services like dental care, optometry, physiotherapy and massages as a result of closures and social distancing restrictions connected to COVID-19 undermining the value of ancillary cover and delivering further savings to health funds.
COVID-19 restrictions have severely undermined the value of private health cover and funds are fearful millions of out of work Australians will dump their cover to save money.
Despite this the nation’s largest health funds last week refused to delay their April 1 premium rise even as HBF and Defence Health announced they would delay premium rises for 12 months.
Private Healthcare Australia Chief executive Dr Rachel David announced yesterday that the 24 funds represented by her organisation will postpone the April 1 premium increase for at least six months.
“This is a continuing process and health funds will be regularly reviewing their financial position in coming months to provide as much support as possible to members,” she said.
Dr David has urged members whose financial circumstances have changed, to talk to their health fund before considering downgrading or dropping their health cover.
Some health funds are offering financial relief to those most in need, people who have lost their jobs, are underemployed or have contracted the virus. Other measures include:
•All hospital policies – from Basic to Gold – will include full hospital coverage for people affected by COVID-19
•People experiencing financial hardship as a result of the crisis will be able to access relief from premium costs – members are urged to contact their health fund directly
•Health funds are covering telehealth services from psychologists from Monday 30 March
•Health funds will cover telehealth services from other allied health professions where practical and clinically appropriate. Funding for tele-physiotherapy services has already been announced, with more announcements concerning additional professions to be made in the coming days.
•Health funds will continue to provide access to and reimburse emergency dental services and will direct members needing access appropriately.
•We are putting in place special arrangements to allow more hospital in the home services and more remote access services for our members at particular risk (subject to government approval).