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St.LukesHealth premium increase in line with industry average

Thursday, 13 March 2014

At St.LukesHealth we continue to strive to deliver you with better benefits and better services. That’s why we have introduced new initiatives such as gap free preventative dental, member rewards and mobile claiming. You can read more about these initiatives in our Newsletter.

In addition, we need to ensure we continue to provide our members with the financial security they would expect from their private health insurer – something we have done successfully for over 60 years. In order to do this, we need to ensure our premiums are sufficient to cover the claims made by our members and therefore it will be necessary to increase our premiums from 1 April 2014. This year our premiums will increase by an average of 6.33%, which is in line with the industry average of 6.20%.

In addition, the Government has also made changes to the way they index the Private Health Insurance Rebate, which will mean a reduction in the rebate percentage for those members who are eligible for a rebate. If you are claiming the rebate as a premium reduction, this change will also affect your premium from 1 April 2014. Read more about this government change at Indexing the Australian Government Rebate on Private Health Insurance.

Last year we introduced Gap Free Preventative Dental on selected top extras products, which has proved very popular with members. This year, we want to reward members who have held top extras cover with us for five years or more, so we have introduced Member Rewards. You can read more about these two initiatives in our Newsletter.

St.LukesHealth is proud to be a ‘not-for-profit’ fund which means your premium stays within the fund for the benefit of members. We are also committed to providing you with the best in customer service and invite you to contact us on 1300 651 988 should you have any enquiries about your policy.

Rodney Spinks

Chief Operating Officer

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