Teachers get a good report

The Australian Medical Association (AMA) recently released their Private Health Insurance Report Card for 2016. The Report Card provides information for consumers to assist them in buying the most appropriate health insurance product for their individual circumstances, including information demonstrating the differences between private health insurance policies.

The Report Card highlighted the disparity of benefits paid by health insurers for medical treatment, detailing what the different health insurers pay for 22 common procedures, including cataract surgery, tonsil removals, colonoscopies and births. The results showed a large variation in benefits for the same procedures.

We are pleased to announce that, as part of the Australian Health Service Alliance (AHSA), Teachers Health Fund came out second in the report, with AHSA funds paying the most for seven of the 22 procedures, including colonoscopies, knee replacements, breast biopsies, and coronary artery bypass operations.

Teachers Health’s CEO, Brad Joyce said, “We welcome the AMA’s focus on the consumer and, like the AMA, encourage our members to compare products in detail and think carefully before comparing products on price alone. We understand that health insurance can be confusing and want all our members to fully understand what their policy covers and to review their policy as their needs change. We work hard to continually improve our member experience and are pleased that the Report Card reflects this.”

Teachers Health Fund offers free online comparisons, making it easy to see how we compare to other health funds in price and benefits. We also encourage members to visit privatehealth.gov.au for more information. If you do need to go to hospital, our Hospital Guide includes step-by-step information on what to ask Teachers Health and what to ask your doctor or specialist before being admitted. Like the AMA, we encourage our members to be proactive in discussing fees with your doctor. Our Hospital Guide also includes information on the Access Gap Cover scheme, out-of-pocket costs and the importance of informed financial consent so that you know well in advance of treatment the costs involved and can plan accordingly.

Brad Joyce commented, “We remain focused on member satisfaction. In addition to returning more to members as highlighted by the AMA’s 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 2016 in the Roy Morgan Research Customer Satisfaction Awards and our industry-leading retention rates.

To receive a free online comparison, click here

For more information on the AMA’s Report Card, view the AMA article here