Rate Rise 1 April 2024
Every member will receive notice about RBHS’ premium changes which begin on 1 April 2024.
Your notice is available to view now in the RBHS app’s secure inbox or Online Member Services.
Committed to supporting our members
The RBHS is a proud not-for-profit private health insurer and we are committed to supporting our members.
To date, RBHS has provided additional support to members to the value of approximately $2.3 million, with a range of COVID-19 support packages including:
- Three member give-backs totalling more than $2,025,000;
- Postponing the 2020 premium increase by 6 months;
- Introducing new member benefits such as telehealth services on our extras cover;
- Provision of COVID-related benefits; and
- Additional measures to assist for financially vulnerable members.
We can assist members in financial hardship. Call us on 1800 027 299 to talk about options for your personal situation.
RBHS only ever increase premiums in order to manage the rising cost of health care and to ensure members continue to receive value through their health cover.
The good news is that this is we are not-for-profit, which means we only charge what it costs to pay claims and run our fund.
We try to keep our costs down in other ways too, such as:
- running as efficiently as possible so we have low administration costs
- working with the Australian Health Service Alliance (AHSA) to have more bargaining power with hospitals and doctors
- working with industry bodies to push the Government for changes that make healthcare more affordable for everyone
There are plenty of reasons that we believe private hospital cover is important. Things like:
- knowing you can have access to private hospitals with state-of-the-art facilities
- being able to choose your doctor
- not having to spend months (even years) on a public hospital waiting list by going into a private hospital
- if you earn over the threshold for Medicare Levy Surcharge (currently $93,000 for singles and $186,000 for families), you may save tax by not having to pay the Medicare Levy Surcharge.
- avoiding a Lifetime Health Cover loading (by having private hospital cover before you turn 31)
Besides, hospital can be very expensive and that is why having health cover is valuable. The table below shows our most expensive paid on behalf of individual members in the 2023 financial year:
| Hospital claims paid in the 2023 financial year | |
|---|---|
| Admission reason | Total benefit paid |
| Brain and nervous system | $81,068 |
| Back, neck and spine | $78,735 |
| Heart and vascular system | $67,451 |
| Rehabilitation | $66,863 |
| Heart and vascular system | $61,963 |
When you think about health insurance, it is important to think about more than just the cost. Health insurance is about giving you more choice for your healthcare, less time waiting for the services you need and (most importantly) the peace of mind to know that you will be looked after when you need it most.
We only ever increase premiums by what it costs to pay claims and keep our fund running. All health fund increases are reviewed and approved by the Government.
If you have paid in advance, you will not have to start paying the new amount until your next payment is due. For example, if you are paid up to 31 May 2024, you will start paying the new amount from 1 June 2024.
Yes, you can prepay for up to 12 months before the rate rise comes into effect. You can do it right now by:
- Credit or debit card – by Thursday 28 March 2024 5pm (or before Sunday 31st March midnight via the app or Online Member Services)
- Direct debit – by Monday 19 March 2024
- BPAY – before your bank's close of business on Monday 25 March 2024
For more information, please call us on 1800 027 299.