Teachers Health Group will defer premium increases until 1 July 2023, in recognition of the cost-of-living pressure on members who comprise school staff, nurses and midwives, educators and their families.
The 2023 weighted average premium increase of 2.5per cent is well below the industry average and will save our members $6.9 million in 2023.
The deferral is the latest in the Group’s COVID support initiatives, which returned $71.8 million to members, including $31 million in one-off payments.
The not-for-profit Teachers Health Group comprises Teachers Health, UniHealth and Nurses & Midwives Health.
The move follows the Australian Government’s announcement of an average 2.9% premium increase across all health funds.
“An increase of 2.5 per cent puts the Teachers Health Group well below the industry average, reflecting our ongoing commitment to keeping premiums low while providing the best care and experience for members,” said CEO Brad Joyce.
"We're proud to provide this support to our members at a time when we know cost of living is top of mind."
"As the fund for educators, nurses & midwives, and their families, we know how much good they do for their communities and how vital those efforts are. Deferring this increase reflects our values as a fund and our promise to members to put their needs first."
"We're for people, not for profit.”
The Group additionally deferred premium increases in 2020 and 2022.