Health insurance rates are increasing, but here’s how to soften the blow

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Health insurance usually goes up in April, energy bills usually go up in January or July, depending on your state. If interest rates change, they usually do so slowly and steadily. But not this year. | OPINION by Joel Gibson

The pandemic has disrupted all sorts of things, and one of them is the usual cycle of our household bills.

After big energy price increases stretching from May to August, and five rate rises in a row, more than 10 million households are about to get a health insurance hike, too. These are the premium increases that were due in April but deferred by most health funds.Michael Mucci On October 1, GMHBA, Frank, TUH, Teachers Health, UniHealth and Nurses & Midwives Health, and Peoplecare will all lift their rates. This will be followed by Bupa, Medibank, AHM, HCF and NIB, which will raise their rates on November 1.average

These are the lowest average increases in 21 years, but the average hike over those years is now 5.3 per cent each year. A $2000-a-year policy when Kevin Rudd was elected would now cost more $4100 a year under the Albanese government. Here are a few things you can do about it:There has been a boom in incentives for switchers, and you can now get up to eight weeks free or $800 in cashback.

 

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Struggling families living day to day won't have to worry about politicians, CEO's & high incomes not being able to pay for heating, food,fuel,rent or mortgage as AlboMP & JEChalmers will gift them 240 billion in tax cuts. An obscene, unaffordable budget time bomb smh auspol

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