Bupa today announced an average premium increase of 4.91%, below the industry average of 5.06%.
Bupa’s Managing Director, Richard Bowden, said: “We recognise that our members don’t like price increases, so we work extremely hard to keep healthcare costs affordable, whilst continuing to provide new and better services.”
Over the last 11 years, the average annual premium increase across all Bupa’s health insurance brands has been below the industry average.
In the 12 months ending June 2011, Bupa paid $3.8 billion in benefits to members – an increase of more than 8.9% on the previous year.
“We also realise how important it is that members receive maximum value from their cover when they’re healthy, as well as when they need treatment,” Bowden said.
“That’s why we keep investing in new products, health programs and technological innovations that benefit our members.
“Bupa remains committed to improving the health of our members, and we will continue to provide them with the healthcare support, information and advice they need both now and in the long-term."
On average, this increase equates to less than $1.30 per week for a single person, and $2.90 per week for a family with Bupa health cover – with the Federal Government 30% Rebate on private health insurance.
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About Bupa As a leading healthcare business in Australia, Bupa’s purpose is to help Australians live longer, healthier, happier lives.
Bupa proudly provides health insurance to more than three million Australians (previously under the well known health insurance brands MBF, HBA, and Mutual Community), as well as complementary healthcare services through Bupa Health Dialog, Peak Health Management and Blink Optical. Bupa Care Services is an aged care provider with 47 facilities around Australia.
Bupa focuses on providing sustainable healthcare solutions that represent real value, and on leading the industry in the promotion of preventive health and wellness – helping customers better manage their health for the long-term. Bupa’s Australian businesses are part of the international Bupa Group, which cares for more than 30 million people in over 190 countries.