Every year, health insurers review their premiums to ensure they are priced accordingly against the rise in healthcare costs.

In February 2025, Latrobe Health will start communicating with members about changes to their 2025 health insurance premium, that will take effect 1 April 2025.

No. Latrobe Health is a not-for-profit member owned health fund. This means we don’t report to or distribute profits to shareholders. Any net operating margin earned because of a rate increase will be directly added to the fund’s reserves. This ensures future payment of claims, benefits for members and covers our operational costs and overheads (which we keep extremely low each year – around 10c in every dollar).

In 2024, we made some product enhancements to many of our extra policies, that took effect on 1 January 2025. These improvements are designed to provide our members with better access to essential health services, such as dental care and allied health therapies. In some cases, you’ll notice your benefit limit has increased on services. To find out more about these changes, visit https://www.latrobehealth.com.au/help-centre/faqs/extras-enhancements/

We understand that changes to your premium amount can be a concern, particularly when cost of living is high. That’s why we offer rate protection, a way to secure your current rate for a set period. Below are some frequently asked questions about rate protection.

What is rate protection?

Rate protection allows you to lock in your current premium rate for a specific period, protecting you from rate increases during that time. If premium rates are increased within the period that you have already paid for your insurance, you will not have to pay increased rates until that period ends. This provides predictability and peace of mind, knowing your premiums won't changes for the duration of that advance payment.

How long can I lock in my current rate?

You can lock in your current rate for 13 months', six months, three months, one month or one fortnight worth of premiums, provided you make the payment on or before 31 March 2025.

My premium increases on 1 April 2025. If I lock in my current rate for 12 months, will I avoid paying the increase?

Yes! You can lock in your current rate for 13 months, provided you pay on or before 31 March 2025. However, after the 13-month rate protection period expires, your rate will be adjusted to reflect the 2025 premium amount. Please note, you cannot pay beyond 31 March 2026.

How do I take advantage of rate protection?

1. Log into your Latrobe Health Online Account or app. You can register and login here https://www.latrobehealth.com.au/my-latrobe-online-account/.
2. Navigate to the payment details section and select a date up to 13 months in the future. Selecting a date means you’re choosing to pay your premiums at the current rate until the selected future date.   
3. Provide your card details and press ‘process payment’

I want to lock in my premium rate from 31 March 2025 to 30 March 2026. Do I have to wait until 31 March 2025 to arrange this?

No, you don’t have to wait until 31 March 2025 to lock this rate in for that period. You can make a payment 13 months in advance via your online account or app in the payment section. Just make sure you select the ‘paid to’ date to as the day before your next payment is due.  

For example, if you make a 13-month payment on the 11 February 2025, you will be covered until 10 March 2026, and your next payment will be due on the 11 March 2026.

If I make a 6- or 12-month advance payment, will I receive a discount.

Yes, if you make a 6-month advance payment you will receive a 1% discount, and if you make a 12-month advance payment, you will receive a 2 % discount.  Please note, this only applies to annual and biannual payments. Payments for other durations are not subject to this discount.

The value of private health insurance is clear when you use it (and not all health episodes are planned).  Keeping your private health cover means you will:

• have access to the best private hospitals with state-of-the art facilities when you need care
• be able to choose your doctor, giving you trust in the quality of care and outcomes.
• not have to spend months (or even years) on a public hospital waiting list
• save yourself tax (if you’re a high-income earner) by not having to pay the Medicare Levy Surcharge
• avoid a Lifetime Health Cover loading (by having hospital cover before you turn 31)
• have additional health services not covered by Medicare, such as dental, physiotherapy and remedial massage. If you’ve got private health insurance cover with extras, this can help with the cost of these services.

Health insurance is much more than a cost – it’s about giving you more choice for your healthcare, less time waiting for the services you need and (most importantly) the peace of mind to know that you’ll be looked after when you need it most.

We understand there are services that some of our Members won’t need, but still have peace of mind that they are covered for unexpected or specific health needs. That’s why we provide a range of covers to suit all budgets and life circumstances. Our Silver Plus hospital cover has fewer exclusions, and our Bronze covers the most common hospital treatments.

We can help you choose the right cover for services you use regularly, or for a specific need like optical, dental, massage or physiotherapy. Please note, if you do remove cover waiting periods will apply if you want to add that cover back on at any point, including 12 months for obstetrics and pre-existing conditions, and two months for psychiatric, rehabilitation and palliative care.

If you would like to review your cover to ensure you are on the best product suited to your needs, please call us on 1300 362 144 (Mon–Fri: 8.30am–6pm, AEST/AEDT) to complete a cover review.

The Australian Government calculates the national average based on the premium increases it approves for all Australian health funds.

Because your premium increase relates to your chosen level of Latrobe Health cover, it may be different to the national average (or the Latrobe Health average). Your premium increase reflects the balance between managing member payments against the claims we pay out for all members on your level of cover in your state.

When it comes to reviewing our rates, we look at every level of cover individually and work out how much we need to increase the cost by to keep people covered, including the cost of claims.

We’ll keep doing everything we can to keep our costs as low as possible while still giving you great quality cover.

Because we’re a not-for-profit fund, we only ever increase membership payments by what it costs to pay claims and keep our fund running. Any increases we make are closely reviewed and approved by the Australian Federal Government.

Any net operating margin earned as a result of this rate increase will be directly added to the fund’s reserves to ensure the future payment of claims, benefits for members, and covering our operational costs and overheads (which we keep extremely low each year – around 10c in every dollar).

To calculate a premium, we use claims and service cost data from previous years to estimate the amount we’ll need to spend in the coming year. Premiums are then adjusted for each type of cover so we can safely cover those predicted costs.

Premium increases aren’t calculated at an individual member level. Your premium change just depends on the kind of cover you have. Community rating applies to private health insurance, it means everyone with the same cover will have the same premium change.

Your final premium amount each year will be a combination of the cover's premium change, any discounts that you have, your Lifetime Health Cover loading, and, if applicable (and in addition) your Australian Government Rebate on Private Health Insurance.

Calculation of premium increases is subject to external scrutiny. To obtain a premium increase an application must be submitted to the Australian Government Minister for Health. The Department of Health and the Australian Prudential Regulation Authority (APRA), the independent health insurance financial regulator, assess all applications to increase premiums before these are passed to the Minister of Health to consider. A health fund needs to provide sufficient information to demonstrate to the Minister of Health that the increase is necessary. If an increase is regarded as contrary to the public interest it will not be approved.

To find more information about your product or policy you can:

• refer to the policy document we sent you with your letter or email
• log into the Latrobe Heath Online Account or app, find your policy document and view limits and waiting periods applicable to you.

We are proud to be a part of Private Health Care Australia and the Members Health Fund Alliance. These industry groups act on our behalf on matters of importance within the industry, such as rising healthcare costs. For more information, visit the Department of Health's website.

Your premium letter or email will include your Private Health Insurance Statement (PHIS) as it is a Federal Government requirement that every year we send you a copy. The PHIS outlines your cover with a list of what is and is not covered as well as your waiting periods and limits for the year.

The premiums shown on the PHIS may be different to the premiums you pay, as your PHIS shows the standard premium amount. It does not include any government rebate, Lifetime Health Cover loading and age-based discounts, all of which affect the price you pay.  

For those who have an Ambulance Victoria membership as part of your cover, the PHIS also excludes this amount if this applies to you, the product code at the top of this letter will include an “A”.

For more information on the age-based discount, Lifetime Health Cover loading and/or the Australian Government Private Health Insurance Rebate, head privatehealth.gov.au.

The Latrobe Health Online Account and app lets you view your benefit limits, review payment options and access information about your policy. You can register and log in here https://www.latrobehealth.com.au/my-latrobe-online-account/. To get started, you’ll need your membership number, email and mobile number.

The Australian Government Rebate on private health insurance was introduced in 1999 to help make health insurance more affordable.

Each year on 1 April, the government compares the national average of health fund premium increases to the standard cost of living in Australia, known as Consumer Price Index (CPI). Unfortunately, because the rebate is a government initiative, we don’t have control over how much it’s reduced by. For more information on changes to the rebate visit privatehealth.gov.au or ato.gov.au

As a not-for-profit, member owned health fund based in regional Victoria, we’re dedicated to supporting our members during difficult times and improving the health of regional communities by investing in programs and initiatives. In 2024 we continued our health initiatives and community programs by:

• expanding our healthy heart checks program around regional Victorians, providing over 1,950 Victorians with free heart checks
• teaming up with Shane Warne Legacy and SiSU Health to bring free 4-minute heart health tests to the 2024 Boxing Day Test and Priceline Pharmacies across Victoria. Through this partnership, in 2024 we were able to test 198,116 people at events, activations and Priceline’s. Visit  https://shanewarnelegacy.com/pages/heart-test to find your nearest heart test station
• providing gifts for children in regional Victoria through Quantum’s Christmas appeal
• sponsoring scholarships for the Gippsland Community Leadership Program
• partnering with Phoenix Australia to bring accessible resources and bulk-billed post-traumatic specialists and treatment services to regional Victoria.

The Latrobe Health Online Account and app are a great way to view your benefit limits, policy details and make changes to your payment arrangement. But if you’d prefer to speak with us, our friendly team of health cover experts are always happy to discuss your health insurance needs.  Give us a call on 1300 362 144, Mon-Fri: 8.30am–4.30pm AEST/AEDT, or start a live chat session on our website at latrobehealth.com.au. Just look for the message box at the bottom of the screen.

We usually receive high call volumes this time of year, so you can also email info@lhs.com.au us or ask us in branch.

You can also find more information about how private health insurance works at private health care explained or take a look at our member guide.

If you feel your current coverage doesn’t meet your lifestyle and health needs, it’s time to review your cover. It’s important to remember, when comparing other policies, make sure you’re comparing like-for-like. If you’re on a Gold Hospital product, you’re on the most comprehensive hospital product you can buy anywhere in the market – so every cover below Gold (Silver Plus, Silver, Bronze Plus and Bronze) is likely to be cheaper but also have exclusions.

Compare Latrobe’s hospital covers and extras covers, or call us on 1300 362 144.