We know a little bit of good can go a long way, so we’ve got good news. We’re putting our 1 April 2022 premium increases on hold until 16 January 2023. How good’s that?
The last couple of years have been a lot. So, this is another way we’re supporting members and giving back COVID-19 claims savings, just like we promised.
So, what does this mean for me?
Each year, all health insurers review their premiums to meet the rising costs of healthcare (yup, us included). The good news this time around? All customers who have an active resident hospital and/or extras cover with ahm at any time before 15 January 2023 will have any premium increase postponed until 16 January 2023. Yay!
As part of the Medibank family, postponing our 2022 premium increases means that together, we’re returning around $205 million in COVID-19 claims savings to members – taking the total ahm/Medibank COVID support package to around $682 million.
What happens next?
You don’t need to do a thing.
Premium increases will instead take effect on 16 January 2023.
Why is ahm postponing premium increases?
The last couple of years were a lot. Postponing our 2022 premium increases is the next phase in our COVID support package. We know times have been tough for some of our members, so this is our way of showing our ongoing support and giving back any permanent claims savings made from COVID-19, just like we promised.
Am I eligible for the postponed premium increase?
Customers who have an active resident hospital and/or extras cover with ahm at any time before 15 January 2023 are eligible.
If I change my cover, will I still be eligible for my premium increase to be postponed?
Yes – we’re postponing premium increases for all resident health insurance products, so if you decide to change your cover before the premium increase takes effect, you’ll still be eligible.
What if my cover is suspended?
You don’t need to do anything – this will happen automatically if you reactivate your policy before 16 January 2023.
When will premiums increase?
This year’s premium increases will take effect from 16 January 2023.
Do I have to do anything to postpone my premium increase?
Premium increases will be postponed automatically, so you don’t need to do a thing. Easy!
For suspended members, this will happen automatically if you reactivate your policy before 16 January 2023.
Does this mean I’ll pay less from 1 April 2022?
No, for products that were meant to have a premium increase on 1 April 2022, it means that this increase will be postponed until 16 January 2023.
What if my premium is due to decrease on 1 April 2022?
If your premium is planned to decrease, this will still be going ahead on 1 April 2022. Only premium increases will be postponed. We’ll be in touch with more details if your premium is decreasing.
Is the Australian Government Rebate (AGR) on private health insurance still changing on 1 April 2022?
No, this year the AGR won't be changing.