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17 February 2016
Pre-pay Your Private Health Insurance to Keep Premiums Down

Every year health insurance premiums increase, usually on 1 April.  You may be able to keep your premiums at a lower rate by paying annually in March.  Often, if members pay for their policy in advance, under rate protection there will be no extra costs if the premium is increased during the period that has been prepaid.

For example, a family with Hospital and Extras could save the following, assuming a 6% premium increase:

Fund
Current Premiums 6% Increases
Saving
Medibank
$3,145.50 $3,334.23 $188.73
Bupa
$3,864.80
$4,096.69 $231.89
NIB
$3,740.36
$3,964.78
$224.42

Check with your insurance provider to see if you can benefit from this.

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This Newsletter, of necessity, has dealt with matters of a technical nature in general terms only. Clients should contact us for detailed information on any of the items in the Newsletter. No responsibility for loss occasioned to any person acting or refraining from acting in reliance upon any material in this Newsletter can be accepted by any member or employee of the firm.

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