Why does HBF need another premium increase?
As a not-for-profit organisation, HBF only ever increases premiums to the level needed to cover future claims by our members. The benefits we paid out last year totalled $704 million – 9.8% higher than the previous year and we expect a similar increase this year. With escalating health costs, new technology and members claiming more often, HBF, like most other health insurers, needs to lift rates to ensure we are able to provide the benefits our members need.
