HCF postpones scheduled premium increase to support members during COVID-19 pandemic
30 March 2020
HCF, Australia’s largest not for profit health insurer, has announced that the 2020 premium increase scheduled to take effect on April 1 will be postponed until at least October 1, 2020.
The announcement is part of a larger package of support measures to relieve pressure on members during the COVID-19 pandemic.
“We are looking to do whatever we can to support our members doing it tough during this fast changing and unpredictable COVID-19 pandemic” said HCF CEO Sheena Jack.
“As a not for profit, we exist purely to support our members. They are, and will always be, our top priority,” said Ms Jack. With the pandemic placing non-emergency surgeries on hold and an anticipated reduction in ancillary cover claims over the coming months, HCF will defer the premium increase and has a range of additional measures in place to support our members most in need. These include:
- Involuntarily Unemployment Assistance which is included in many of our policies. Members who hold hospital only or hospital and extras cover with HCF who become involuntarily unemployed through no fault of their own, will be eligible for HCF to cover their health insurance premiums for up to six months.
- Premium waivers
- Policy suspension due to unemployment or financial hardship.
HCF has also confirmed that all customers with a hospital policy would be covered for COVID-19 related claims.
HCF members who are suffering financial hardship as a result of the COVID-19 pandemic, are encouraged to reach out to the dedicated Hardship team on 13 13 34 to discuss available options.
Issued on behalf of HCF by OPR Agency. Media enquiries to:
HCF, Australia’s largest not-for-profit health fund protecting Australians since 1932, covers over 1.6 million members with health and life insurance, and 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 approximately 10,000 providers participating in its 100% back More for You programs, 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 including its Healthy Weight for Life programs, mobile Victor Chang Heart Health Checks, Thank You rewards program and preparing for hospital online tool. HCF’s national network of retail outlets 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. To learn more about HCF go to hcf.com.au/about-us