Why premiums are reviewed annually
Reviewing premiums each year allows us to keep up with rising healthcare costs. This means we can continue to provide you with affordable access to Australia’s high quality healthcare system during your time here.
Overseas Health Cover Premiums will change on 1 April 2025. We’ll notify you of your new premium by email or post toward the end of March.
Reviewing premiums each year allows us to keep up with rising healthcare costs. This means we can continue to provide you with affordable access to Australia’s high quality healthcare system during your time here.
That depends on the cost of providing services to members of our Overseas Health Covers at any given time. As medical costs are generally on the rise, we must review our premiums to ensure that our Overseas Health Covers remain sustainable and will meet the needs and claiming pattern of members. So, we can't say that premiums won't go up in the future, but we're working hard to keep premiums down as much as we can and deliver more value back to our members.
No. Unlike the premium changes affecting Australian resident covers, health insurers set the premiums for Overseas Health Covers themselves based on the cost of providing the product to their members.
Changes to premiums depend on factors like the general product claiming patterns of members and new technology or legislative changes and associated costs. Members who have Overseas Health Covers are typically not Australian residents, and generally do not have their treatments subsidised by Medicare, so the premiums on Overseas Health Covers reflect the full cost to insurers of providing health cover to members.
We'll let you know of any changes to your premium by email or mail in March 2025. You'll pay the new premium from 1 April 2025. Don't forget that you can choose how often you pay your premium: fortnightly, monthly, quarterly, half-yearly or yearly.
Although health insurers who offer Overseas Health Covers can change their rates at any time of the year, usually premium changes align with the Australian resident cover premium review period which is usually 1 April.
The industry average figure only relates to Australian resident covers, not to Overseas Health Covers, which cover non-residents.
Premium changes reflect the cost of providing health services to all members on the same level of cover, not the costs at an individual member level.
We offer several products that pay towards various health services and treatments. Since the types of claims made by members vary at each level of cover, different premium rates need to be applied to cover the associated costs.
Yes, members can prepay their premium for up to 12 months and 'lock in' their premium at the 2024 rate by prepaying prior to 1 April 2025 (i.e. before the 1 April premium change).
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Complete this form to express your interest in one of our programs. If you're eligible, a member of our team will call you within 2-3 business days.
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Sorry, only members with current Hospital cover are eligible to participate in these programs
Eligible Medibank members with Extras cover are able to access a range of telehealth services included on their cover - you can find out more here. Alternatively, if you would like to talk to one of our team about your cover, we're here on 132 331.
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If you are eligible, one of our health professionals will call you in 2-3 business days to discuss your situation and help to enrol you in the relevant program.
There is no cost to participate, however some referred services may incur an out of pocket cost.