Each year health insurers review their premiums and policies in a consultative process with the government. As a result of this process there will be changes to your premium as of 1 April 2020.
We understand the annual premium increase challenges the affordability of private health insurance, however we are committed to delivering ongoing value to our members by returning more in benefits and continuing to support local communities both in times of need and prosperity.
It is important to note that we are not in a position to advise members of their individual increase at this stage. We will be forwarding formal documentation outlining these changes in the coming week. As previously mentioned, these premium increases will not take effect until 1 April 2020.
Benefits paid to members in 2018/2019
In the 2018/2019 Financial Year we returned a record $173 million in benefits to our members. Being proudly member owned and not-for-profit we are thrilled with this result and forecast this number to grow over $200 million this Financial Year.
New benefits in 2020
Some of the enhancements we’ve made to member benefits from 1 April 2020 include:
• Expansion of our Provider of Choice Network to over 3,000 dental and optical providers Australia wide – resulting in no gap for 19 preventive dental items and lower gaps with partner optical providers.
• Our travel and accommodation benefits have been restructured to help our regional members needing to travel for medical services.
• Expansion of our Chronic Disease Management Programs and hospital substitute services, such as MindStep, Healthy Weight for Life and Rehabilitation at Home.
Community support in times of need
2019 was a challenging year for many, some of the ways we supported our members and their communities during this difficult time included:
• Granting members affected by drought 6 months’ premium relief through the Westfund drought relief program.
• Supporting local communities through the Westfund Community Grants Program.
In 2019 we allocated $120,000 to support local community groups.
• Supporting both national and local groups in their fire relief efforts through a donation to the Red Cross Bushfire appeal and matching local staff donations.
Member satisfaction survey
Thank you to everyone who recently participated in our member satisfaction survey.
We value all feedback and are committed to the ongoing improvement of our policies and services delivered to our members.
We appreciate your continued loyalty to Westfund and look forward to providing quality cover and peace of mind into the future.