Over 55's are being hit by larger-than-average premium increases

Noted the many complaints against HCF premium rises in comments below. Instead of pushing this brand, the FiftyUp Club needs to make stronger representations to the Govt to remove large Gaps, and enforce lower fees with standard comparable Private Insurance Products for better competition. Currently, the Private Health Insurance system in Australia is a fraud on the people, as the Govt forces it on people (with penalties), approves large increases in premiums every year, and yet forces Patients to bear the Risk of Gaps and high Doctors fees. Insurance companies need to bear these Risks of Gaps (all except 15% of Medicare Scheduled Fees) and high Doctors Fees, including for costs of Diagnostic Tests and Pharmaceuticals. Otherwise it is not Insurance, simply a scheme to refund part of costs. Insurance companies are getting away with a complete con on people without taking on these Risks, and making great profits. The Govt needs to change Laws as needed, and allow / persuade Insurance companies to cover all Risks for Gap Fees and all Medical Costs (all except 15% of Medicare Scheduled Fees), and then create a competitive market by ensuring Standard Products with full coverage are offered. 

I'm a 76 year old male member of HCF and my wife is 57. As we insure with HCF we are not eligible for the HCF offer you have negotiated. Our monthly premium has gone up 8.41%, from $354.80 to $384.65. Maybe it's time for you to negotiate a loyalty discount with HCF or provide people like us with an alternative insurer?? Den Townsend 

We have been with HCF for 17 years and while they are still ( apparently ) the preferred insurer , our premium increased by 16.91% in 2015 and further increases of 9.15% in 2016 and 9.65% this year. What the hell goes on ? Aged pensioners like us cannot cop this much longer. Not happy Jan . 

I had been with Medibank Private since forever but last year with rising prices to over $4000 a year I looked around and went with ahm. They gave me an offer of the existing years premium (2015) and pay for 11 months and get 12 months cover. Worked out to be $2678. This year the honeymoon is over, now it's $3136 if I pay before end of March. I think extras will have to go. In fact Aami have just entered the market and I will seriously be looking at them. 

our health care went up by 10 percent last year and probably more than that again this year ,last year we took out all unnecessary items that we could ,and increased the out of pocket up front charge, there is nothing left to pare back now all the funds seem to be about the same price .let me tell you our income is not rising by 10 percent every year . 

Upon reading all your comments, I'm amazed on how much you are all paying each month, & some of you have been in HCF for 20+ years. Add that up. If you put $100 for single & $150 for couple in a separate bank account, per month, you will have enough money to pay for glasses - dental get your toe nails cut etc. Plus Hospital is also covered free by Medicare. Do you really need a room on your own? If you do, then you pay don't complain. I am in the process of getting my teeth out & new dentures, & is costing nothing, I have had two pairs of glasses, cost me nothing. Only because I have put $150 away per mth. (sometimes I will sneak a hair cut as well) Think about it, and do it, don't hold back 

The HCF offer is a "Clayton's Offer"! The offer your having when your not having an offer! The Fifty Up Club should not be part of this pathetic offer! 

I wonder - how the average increase in health insurance premium is calculated. Reading comments and stories from FiftyUp Club members plus my recent experience leaves me in no doubt that fund members and general public are being lied to big time. I just received a letter from HCF (have been a member for almost 30 years) advising me as follows: “...This year our average increase of 3.65% is our lowest in over ten years, and well below this year’s industry average of 4.84%.” My premium from 1 April 2017 will increase by 7.91%. In almost every FiftyUp Club bulletin you encourage member to switch to HCF for the best deal. My message to fellow member is DO NOT JOIN HCF if you need a decent cover for a decent premium and “average increase of 3.65%”. I will support any demand for the explanations from authorities about false information and a big rip-off. Elizabeth L. 

I just reviewed the 'offer' and they have NO offer for me. Apparently if you don't want anything to do with fertility or pregnancy and no extras you have no offer to consider! Also I looked at the small print: "If you take the members offer and remain with HCF, FiftyUp Club will send a cheque for $100 to eligible couples and families after 3 months, 13 months and 25 months, (instalments for half these amounts will be made to singles). To be eligible to receive each instalment of cashback you must be a current member of HCF with hospital and extras cover at the point of expected instalment." Si if I understand this correctly you actually have to take the HCF hospital and extras for more than 2 years to get the cash back. That means you are locked in to get the money. I do not consider this to be an appropriate offer at all. Those of you who also have HCF cover, you are not missing out on anything! 

Like most here my increase is way higher than 4.8%. 13.8% mine goes up. This is on top of around 17% last year! I too would like to know who only got a 4.8% increase. I don't have extras cover either. With an inflation rate of about 1.5% how an increase rate three times that can be defended is debatable, but one over 9 times inflation is quite simply gouging.