CHOICE warns against ‘junk’ health insurance policies

A recent report from the consumer advocacy group CHOICE, regarding so called ‘junk’ health insurance policies has warned consumers to be wary of policies that may not provide the cover you need.

Teachers Health Fund’s CEO, Brad Joyce said, “Like CHOICE, we urge those taking out private health insurance to look carefully at what benefits your policy provides and whether it meets your needs. We encourage our members to compare products in detail and to choose wisely, ensuring that the product is right for them. We understand that health insurance can be confusing and we are here to support our members in fully understanding what their policy covers.”

As a restricted health fund with defined eligibility criteria, Teachers Health Fund is the only health fund exclusively for those in the education community and their families. We’re committed to providing great value health insurance to our members through lower costs and generous benefits and offer eligible members programs and services designed to further support their health and wellbeing.

We provide free online comparisons, making it easy to see how we compare to other health funds in price and benefits, and switching is easy. Plus, if you’re switching to a policy with same level of cover then you won’t have to re-serve waiting periods if you join within 60 days of cancelling your previous health insurance policy.

Teachers Health Fund aims to make our policies as easy as possible to understand and also encourages members to visit for more information. We understand that our members have differing needs at different life stages and our product range reflects this. It’s important to review your policy as your needs change.

Brad Joyce commented, “We work hard to continually improve our member experience and remain focussed on member satisfaction. In addition to returning more to members as highlighted by the recent Australian Medical Association (AMA) Report Card, our average premium increase of 4.97% for 2016 sits well below the industry average of 5.59% and those of big name health funds. With average increases reaching as high as 8.95% in some funds, we are committed to keeping premiums as low as financially sustainable while returning generous benefits and services.”

Teachers Health Fund’s focus on member satisfaction was also highlighted by being named Private Health Insurer of the Year 2015 in the Roy Morgan Research Customer Satisfaction Awards and our industry-leading retention rates.

To read more on the CHOICE report, click here

To read more on the AMA Report Card, click here 

To request a free, online comparison click here