Teachers Health Group today announced it would further delay premium increases until 1 October 2023, having previously delayed April’s earlier premium increase this year. The move will save members $14 million in 2023, recognising the Group’s commitment to putting members first and the impact of the rising cost of living on household budgets.
The deferral is the latest in the Group’s COVID support initiatives that have returned approximately $79 million to members, including $31 million in one-off payments in 2022.
Teachers Health, UniHealth and Nurses & Midwives Health, the Group is Australia’s largest industry-based health fund covering over 400,000 lives as the fund for school staff, nurses and midwives, educators, and their families.
“Our members are at the heart of everything we do, and from the outset of the pandemic, we’ve maintained that any savings realised due to COVID would be returned in full. This is part of our commitment as a profit-to-member fund to prioritise their needs and provide support at a time when cost of living is top of mind,” said Teachers Health CEO Brad Joyce.
The Group additionally deferred premium increases in 2020, 2022 and earlier this year in April 2023.