We’re changing our provider rates to make premiums as low as possible

31 December 2019

HCF has announced a number of changes in order to manage PHI affordability for its 1.6 million members.

“In an environment where members are weighing up where to spend their disposable income, we are taking proactive steps to help manage the cost of private health insurance and reduce pressure on premiums,” said HCF CEO Sheena Jack.

HCF has undertaken a thorough review of rates paid to specialists participating in its ‘No Gap’ or ‘Known Gap’ schemes and will revise the rates paid for some specialists’ services in some States from early January 2020. As a result of this change, HCF payments to some specialists will be reduced.

“Despite this change, our rates will still be very competitive to the rates paid by other major private health insurers. We see no reason why this adjustment should impact on our members at all” said Ms Jack.

HCF is also adjusting the rates paid to some of its participating dentists in its ‘More for Teeth’ program. More dentists than ever are taking part in the program, giving more members the chance to care for their dental health without paying any gap fee.

Understandably, the popularity of ‘More for Teeth’ has increased the cost to deliver the program.

“As a not-for-profit health fund, we don’t want to pass the increased cost of the program on to our members. Instead, we want to minimise the impact on members to ensure they continue to look after their dental health.

“Again, HCF members will not be disadvantaged by this change.”

“These changes are all about reducing pressure on the system so we can make PHI more affordable for our members. That’s our promise to members and potential members and why we have been voted the most trusted health fund for two years in a row. We are determined to continue to look for reforms that will provide the best value experience for our members” Ms Jack concluded.

HCF members are reminded to discuss fees with their medical specialist before commencing treatment as clinicians choose to participate in these arrangements on a case by-case basis. Participating providers may be found on the HCF website at: www.hcf.com.au/locations/find-a-participating-provider.

Contact: Media@hcf.com.au

About HCF

HCF, Australia’s largest not-for-profit health fund protecting Australians since 1932, covers over 1.6 million members with health and life insurance, travel and pet insurance. On average over the last five years, HCF has paid out more cents in every dollar in premiums to members as benefits than the industry average. With over 35,000 specialists participating in its Medical Gap Cover Scheme and over 19,000 provider locations forming part of its More for You network, HCF gives members access to quality health care with no gaps or minimal costs compared to non-participating providers. To empower members to put their health first, HCF also offers a range of health and lifestyle services, mobile Victor Chang Health Checks and the HCF second opinion service. HCF’s national network of branches and Australian-based call centres have earned multi-award winning status. HCF members also have access to low cost, high quality services at HCF Dental Centres and HCF Eyecare Centres. Having contributed $50 million to support the health services research funded by the HCF Research Foundation, HCF is devoted to investing in the future of Australia’s health. HCF has been voted the most trusted health insurer 2 years in a row – as voted in the Roy Morgan Net Trust Survey 2018 & 2019. To learn more about HCF go to hcf.com.au/about-us