Each year every health insurer submits an application to the Australian Government
The Australian Government gives final approval of Australian health insurers’ premium changes, which come into effect on 1 April each year. To gain that approval Medibank, like all insurers, needs to show that the changes are the minimum necessary to meet the ongoing payment of benefits to members.
Working to keep increases down
This year we resubmitted our application with a lower average increase than originally planned. It is also lower than last year and the lowest it has been for 4 years. We’re pleased that our recent work across the health sector to drive efficiencies and reduce growing costs is having a positive impact on our members’ premiums.