So I prepaid my annual health insurance before 1st April as most do to save money.
Today Medibank Private send out an email to say (surprisingly) that the cost of my policy is going DOWN by about $65/month as of 1st April 2017. As I've prepaid I'm not going to get this discount.
Anyone have any experience or ideas as to how to get the discount? I'm going to call them and see what they'll do. I'm thinking if I change to another policy and back that might work? I appreciate any feedback.
If you paid by a credit card that has that price drop insurance thingy, it might be covered?
Thanks another example of how doggy are private health insurances.
haha typo, but "doggy" still works here I think.
$65 a month less? That seems unbelievable. Is it for the same coverage? Has there been a change in your circumstances (e.g. the government rebate)?
No changes from me… just an email from them just announcing a drop in the price of the plan i was on.
—- contents of email below
We're writing to let you know that your premiums changed as of 1 April 2017.
Your premium
Growing Family Complete 60
. What you paid before 1 April 2017 $494.30 monthly
. Price decrease -$65.30 monthly
. Total premium from 1 April 2017 $429.00 monthly
So why the change?
Put simply, we're living longer, we enjoy some of the best healthcare in the world, and we're using it more than ever. These are some of the things that affect what we all pay for health cover. That's why reviewing our premiums is important, so we can continue to support you, and all our members, to be healthier.
Pls cancel your policy and move to another provider and if you still want them just move back.
You were paying $6000/year for PHI? They probably dropped their premiums 'cos they were too high.
Yep, thats the cost of top level cover these days :(
are you using it?
Well, first of all, mine is just one of many many families that decide to buy health insurance. Do I use it? Yes, there are years when I have claimed much more than I've paid. Could I have avoided some of those costs by using the public system? Yes, some of them. But I've got friends who've been waiting for years in the public system for treatments that are more readily available in the private system.
In my family's circumstances I will, in the long term, get more back from health insurance than I pay into it, but this isn't the only reason why people have insurance… sometimes its just about peace of mind & if that is value to them then so be it.
I pre-paid my health insurance before last year's rise. I just paid a set amount like a few thousand, so it wasn't actually 6 months, just until it had been used up, then reverted pro rata to the new rate. I imagine you should be getting a longer period of cover with the reduction. Even if you have paid a full year in advance, surely Medibank Private can not legally or morally be charging you any more than would be charged to those who are under the same cover.
Cancel under the 30 day cooling period and rejoin?