- Tasmanian not-for-profit health insurer St Lukes puts health of 95,500 members first.
- St Lukes’ 2.88 per cent average premium increase is almost one full percentage point below the industry average.
- St Lukes’ 10-year average premium increase (3.42 per cent) is lower than almost every other fund in Australia.
Not-for-profit Tasmanian health insurer St Lukes has continued its track record for putting members first, working to keep premium increases as low as possible while delivering award-winning cover to its 95,500 members.
CEO Paul Lupo said ensuring members receive value from their private health insurance remains front-of-mind this year, keeping St Lukes’ 10-year average premium increase among the lowest of any private health insurer in Australia.
“St Lukes now insures more Tasmanians than any other provider – a reflection of our deep commitment to this state and our vision to make Tasmania the healthiest island on the planet,” Mr Lupo said.
“As a not-for-profit insurer we answer directly to our members, and are keenly aware of Tasmanians’ concerns about cost of living and timely access to medical care.
“That’s why we pride ourselves on keeping St Lukes’ rate rises consistently low, maintaining the sustainability of our fund, while reinvesting any profits back into areas that will directly benefit our members.”
St Lukes members will see an average rate increase of just 2.88 per cent this year – almost one full percentage point below the industry average and significantly lower than the average premium hikes of major competitors, including Bupa (5.1 per cent) and Medibank (3.99 per cent).
“To us, value means continually reviewing our range of products, ensuring members can choose the right level of cover for their needs and budget,” Mr Lupo said.
“With a focus on early intervention, prevention and community engagement, we’re working to support and empower our members to enjoy not just good health, but excellent health for years to come.”
St Lukes hospital cover has been recognised in Tasmania by CANSTAR for its outstanding value for the past two years, acknowledging its competitive policies that enable consumers to find the right balance of cost and coverage to suit their needs. This includes the delivery of affordable Gold products that meet the needs of members.
St Lukes is finalising its rates for individual policies, and will communicate members’ new rates as calculations are completed. Changes to premiums will take effect from April 1.
ENDS