MEMBERS UPDATE MARCH 2021 2021 PREMIUM INCREASE As a not for profit, member owned health fund we put our members before profits. We are committed to passing on the absolute minimum premium rate increase to cover increasing healthcare costs, while continuing to deliver quality cover and benefits paid back to our members. We do not want to increase premiums by a single dollar, but it is necessary to ensure your health fund remains financially viable, meet statutory prudential requirements and most importantly, continue to be in a position to provide members with access to quality and timely healthcare. Our 2021 average increase of 4.07% (with rate protection) has been approved by the Minister of Health and authorised by the Federal Department of Health and will be effective from 1 April 2021. The percentage increase specific to your membership may differ from the average rate, and reflects the actual and forecast claims experience against the particular cover you hold. Typically, the Hospital cover increase is higher than Extras cover. The 2021 premium increase is lower than 2020 which was deferred to 1 October 2020.
CHANGES TO THE AUSTRALIAN GOVERNMENT REBATE ON PRIVATE HEALTH INSURANCE EFFECTS YOUR PREMIUMS Each year the Federal Government reduces the rebate percentage which impacts members who are eligible to claim the rebate on their premiums. The government rebate is based on your income and the age of the oldest person on your membership. The reduction of this rebate has direct impact on the overall cost of the premium increase. For example, this year, the base tier rebate has declined from 25.059% to 24.608%.
COVID-19 RESPONSE
With this increased value of private health insurance, it is important to remember the other reasons why private health is important as it: ü
Offers you greater choice of doctor and specialists.
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Offers you greater choice of where you are treated.
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Gives you greater peace of mind.
ü Means more money in your pocket for health services that Medicare does not cover or only partially covers services such as dental, physiotherapy and chiropractic. ü Means that higher income earners can avoid the Medicare Levy Surcharge.
WHAT HAS BEEN HAPPENING AT YOUR FUND? BROKEN HILL OFFICE IS NOW OPEN. We are proud to announce the opening of our full-time office in Broken Hill, NSW. Our full-time office is located within the Broken Hill Community Credit Union. The Fund looks forward to serving our existing members in Broken Hill and welcoming new members to our health fund. The office is located at 2 Chloride Street, Broken Hill and is open Monday to Friday.
WE HAVE A NEW HOME FOR OUR SWAN HILL OFFICE In 2017, we expanded into Swan Hill where we opened a part time office within the local Priceline Pharmacy. Due to increased membership, we have opened our own office in January 2021 at 28a McCrae Street, Swan Hill and will continue to operate two days per week, every Wednesday 10am to 5pm and Thursday 8.30am to 3pm.
Last year, it was decided that we place our 2020 premium increase on hold for six months due to COVID-19. This measure was put in place to support our members throughout uncertain times saving our members over $1.6 million dollars. Benefits for telehealth services were introduced to help our members access health services that they require. We continue to offer face to face service keeping our doors open and have appreciated our members following the COVID-19 health guidelines when visiting us.
THE VALUE OF PHI HAS NEVER BEEN GREATER There has been disruption to the private health system given restrictions on non-emergency surgeries due to COVID-19 throughout Australia. The limitations have been caused by statebased restrictions on elective surgery and cross border issues with specialists unable to travel into different states. The private system has fared a lot better than the public system where the average wait time for a medical procedure exceeds 1.5 years with some reports of 10 year waits for some procedures. The private system saw a back log of patients requiring elective treatment and in late 2020 many restrictions on elective surgeries in all states reduced. Now, our members are receiving the treatment that they need and deserve.
Our Broken Hill office is now open to serve the Broken Hill community.
MEMBERS UPDATE MARCH 2021 CHANGES TO OUR HOSPITAL COVER EXCESS OPTIONS
WE REWARD OUR MEMBERS
From 1 November 2020, it was decided to no longer offer $0 excess and $150 excess options on our Five Star Gold Hospital cover to new members. If you currently hold one of these excess options, this change will not affect you. This change was made due to changes in the industry and consumer demands. We will continue to offer $250, $500 and $750 excess options on our quality Five Star Gold Hospital cover.
As a valued member of our fund, we believe it is important to give back to you. If you refer a new member to us and they join any policy, we will reward you with a $50 eftpos gift card. For further details, visit www.mildurahealthfund.com.au/about-us/ promotions. Terms and conditions apply
FAREWELL TO MILDURA HEALTH DIRECTOR, LYNNE BALL
gift card
HAVE WE GOT YOUR EMAIL ADDRESS?
In December 2020, we farewelled Mildura Health Board Director Lynne Ball. Lynne joined the Mildura Health Board in 2017 and with her strong background in corporate finance provided valuable contributions to the Board and Audit Committee.
More and more members are wanting us to communicate with them via email, rather than post. If this is you, simply email us at mhf@mildurahealthfund.com.au with your name, membership number and preferred email address. If you have received this communication via post, it is more than likely we do not have an email address on file for you.
We thank Lynne for her efforts and input into the success of Mildura Health.
START PAYING YOUR PREMIUMS WITH DIRECT DEBIT
VALE DR. KEVIN CHAMBERS OAM. On 20 November 2020, we farewelled a true gentleman whose impact on our local community is beyond measure. Dr. Chambers was loved and respected, both as a surgeon and as a person, by all who had the pleasure to know him or know of him. Mildura Health is proud to have had a long association with Dr. Chambers; from serving on our Board of Directors from 1989 to 2016, to being our first General Surgeon in 1987 when the Mildura Health Private Hospital first opened. He was a Director, surgeon, supervisor, friend and mentor to many, his contribution to this organisation will be sadly missed for many years to come.
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If you are not currently paying by direct debit, from your nominated savings or cheque account, switch your payment method today and receive a 2.5% discount on your membership premium. To change your payment method to direct debit, contact our Customer Service Team today on (03) 5023 0269 or email mhf@mildurahealthfund.com.au
THANK YOU FOR YOUR SUPPORT From everyone at the Fund, we thank you for your ongoing support to our organisation. We are committed to your satisfaction for the long term and we wish you a healthy and happy 2021.
98%
Member satisfaction*
3.2%
Membership growth 2020
34,500
Members and growing Australia wide health cover
The late Dr. Kevin Chambers OAM.
Head office: Mildura Health Fund 79 Deakin Avenue, Mildura Vic 3500 Open: Weekdays 8:30am - 5pm PO Box 5046, Mildura Vic 3502 T 03 5023 0269 E mhf@mildurahealthfund.com.au ABN 13 078 202 089 www.mildurahealthfund.com.au
Swan Hill Branch 28a McCrae Street, Swan HIll Open: Every Wednesday 10am- 5pm and Thursday 8:30am- 3pm Broken Hill Branch 2 Chloride Street, Broken Hill (Broken Hill Community Credit Union) Open: Monday 9.30am to 4pm Tuesday to Friday 9.30am to 5pm
*98% Member Satisfaction resulted based on independent research by Discovery Research 2020.