2018 Premiums

Each year on 1 April, health insurers make changes to their members’ premiums. Here are some questions you may have:

Why are my premiums increasing?

Why are my premiums increasing?

Each year we have to consider a number of factors when we review our health insurance prices:

  • The rising costs of healthcare

  • We’re paying more claims benefits back to members each year

  • There’s greater demand for health services

  • And, our population is ageing.

  • We don’t make any premium increases lightly, and we only do so to ensure that we can continue to meet our obligation to members – providing quality health insurance.

    We know that affordability is a key issue that many people are facing, and we’ve worked hard to keep our premiums as low as possible. In fact, this year’s premium increase is our lowest in over a decade.

    Do all funds carry out a review of their premiums?

    Yes, all Australian private health insurers review their premiums annually and the Australian Government oversees the process. All health funds are required to justify why changes to premiums are necessary. Approval from the Health Minister is required for any premium increase.

    What is the value of Private Health Insurance?

    What is the value of Private Health Insurance?

  • Greater control – If there’s one thing you want to be in control of, it’s the health of you and your family. With Hospital cover you can pick your doctor, where you’re treated and when you’re treated.

  • Get better, sooner – Avoid the long public hospital waiting lists and get the treatment when you need it.

  • Stay healthy – Keep on top of your health with Extras cover. Prevent or fix health issues by visiting the dentist, optometrist, chiro, physio and more.

  • Peace of mind – You have something to fall back on when the unexpected happens. It’s like the peace of mind offered with other types of insurance (car or house), instead this time it’s about the health of you and your family.

  • Less stress – Imagine an emergency trip to hospital in the ambulance, and then worrying about paying the high fees. With private health insurance, you’re covered for emergency ambulance transport.

  • Avoid taxes and loadings – think Medicare Levy Surcharge and Lifetime Health Cover. The sooner you have private health insurance, the less you’ll have to pay down the track. Also, take advantage of the Australian Government Rebate on Private Health Insurance (if eligible).

  • We’re all about you.

    We’re for members. As a not-for-profit organisation we focus on providing the best possible value cover for you. We do this by improving benefits, keeping premiums as low as possible and ensuring the Fund continues to operate strongly.

    We understand your work and the pressures that come with it. And as the only private health insurance fund exclusively for nurses and midwives (and their families), we’ve got your back.

    At Nurses & Midwives Health, we’re proud to be caring for the carers.

    What are the new premiums?

    When will I know my new premium?

    Members will receive their notifications in early to mid-March. You’ll receive either an email or a letter, depending on your preferred method of communication.

    What are the new premiums?

    Current members can get a quote through Online Member Services by going to Payments - Get a Quote

    Change the date to “Quote as at 1/4/2018” to find out your new premium.

    New members can get a quick quote through the Live Quote Tool

    What can I do to “lock in” my current premium?

    If you make an advance payment by 6pm (AEDT) on 29 March 2018 using a credit card or BPAY we’ll charge you the current premium. You can pay in advance for a few months or up to 15 months (up to 30 June 2019). There are three easy payment methods:

    1. Go to Online Member Services, then select the Payments tab to make an instant Visa or Mastercard payment. You can also use the Premium Calculator to get a quote.

    2. BPAY – Using the Biller code 266155 and your customer reference number. You can find your customer reference number on your premium increase letter or on Online Member Services under Payments - Pay by Bpay

    3. Phone – To pay by Visa or Mastercard, call 1300 345 876. Have your customer reference number handy. This is the same customer reference number we use for Bpay, and you can find it on your premium increase letter or on Online Member Services under Payments - Pay by Bpay


    What is the rebate?

    The Australian Government Rebate on Private Health Insurance is an amount paid by the Australian Government as an incentive for people to take out private health insurance.

    It applies to all Hospital, Extras and Ambulance products and depends on your age and income. The rebate isn’t available for the Lifetime Health Cover loading portion of membership payments.

    Private Health Insurance Rebate effective from 1 April 2018 to 31 March 2019

    Private Health Insurance Rebate 2018
    Do I have to claim it as a reduction in my premium?

    No, the rebate can be claimed as a reduction to your health insurance payments or as a tax offset when you do your tax return.

    What has changed?

    The rebate changes each year on 1 April. It’s set by the Australian Government and is calculated using the difference between CPI and the industry weighted average increase in premiums.

    This means that each year the Government will limit the amount of rebate it pays to a proportion of the full premium (before any applicable LHC loading is applied).

    Changes to your Top Extras cover

    You asked and we listened. Each year we review our products to find ways we can give back to you, our members. This year we’ve added the following benefits to your Top Extras cover.

    New benefit for CPAP accessories

    We previously paid benefits for CPAP machines and accessories from the same annual limit. Effective 1 April 2018, we are introducing a separate limit for CPAP accessories.

    New benefit CPAP
    ^This only includes accessories that are required for the functioning of the CPAP machine e.g. masks, tubing, straps, pillows, filters, and humidifiers. This doesn’t include cases, wipes, or batteries.

    The Aids and Appliances form must be completed before we can pay for CPAP machines or accessories.
    Hearing aid loyalty limit

    From 1 April 2018 we’re increasing the year 2 limit for hearing aids. All other limits remain the same.

    Hearing aid loyalty limit
    *Limits are calculated on continuous membership of Nurses & Midwives Health Top Extras cover. The Aids and Appliances form must be completed before we can pay for hearing aids.

    Changes to your Essential Extras cover

    You asked and we listened. Each year we review our products to find ways we can give back to you, our members. From 1 April 2018, you’ll be able to claim for Orthodontia under your Major Dental limit – something previously only available under Top Extras.

    Major Dental to include Orthodontia

    If you’ve held Essential Extras cover continuously for 24 months, you can start claiming straight away for orthodontia services received after 1 April 2018.

    Major dental
    If you’re already on Essential Extras, the time you’ve held your policy will count towards the waiting period. E.g. if you’ve held your Essential Extras cover continuously for 18 months, you will only have to wait an additional 6 months before you can claim for Orthodontia. To be eligible, the orthodontic treatment has to commence after your waiting period has been completed.