must know
- Bupa will increase its health insurance premiums on November 1, 2022 by 3.18%
- If you prepay before October 31, you can lock in your current premium for up to 12 months
- Bupa is Australia’s second largest health fund behind Medibank
Bupa will increase its health insurance premiums on November 1, 2022 by an average of 3.18%.
This compares to an average premium increase of 2.7% and is the second highest increase of the five major health insurance funds. While HBF already raised its premiums on April 1, the other three big funds have also postponed their premium increases until later this year:
- Medibank – Increase of 3.10% from November 1, 2022
- NIB – 2.66% increase from November 1, 2022
- HCF – increase of 2.72% from November 1, 2022.
How to save on your health insurance premium Bupa
You can review your private health insurance at any time to check if you are getting the best deal (it is good practice to do this at least once a year). With thousands of health insurance policies on the market, it can be difficult to make sense of your options, which is why our insurance experts have developed a tool that allows you to compare health insurance so you can find coverage that’s right for you and potentially save you hundreds.
If you decide your current policy is good value for money and meets your needs, prepay your premium by October 31, 2022. This is a great way to save money as it ‘locks in’ your current premium and avoids you on November 1st. price increase up to 12 months.
Bupa Discounts
Bupa does not offer prepayment or direct debit discounts. Youth discounts are available on all hospital policies and are transferable (meaning you can transfer a discount from another fund to one of these policies).
Corporate discounts are available for employees of a number of companies, so check what you are entitled to.
Who is Bupa?
Founded in 1947, Bupa Australia is part of the international Bupa group which provides health and care services in more than 190 countries. It has 3.5 million members and is Australia’s second largest health insurer behind Medibank. Bupa is a for-profit company, but its parent company is non-profit.
How does Bupa rank?
Gap Coverage Assessment
To what extent does Bupa protect its members from reimbursable expenses?
- Vic, Qld, SA and Tas – Above Average (the second highest rating).
- Everywhere else – Average.
Complaints assessment
Bupa has an average rating for complaints.
Complaint scoring is based on complaints filed with the Private Health Insurance Ombudsman. Check out our roundup of the most criticized health insurance funds.
Five Steps to Better and Cheaper Health Insurance
Do you want to change health insurance but don’t know where to start? Our experts have developed a practical five-step action plan to help you through the process of reviewing, comparing and changing your health insurance policy.
Just a few minutes could save you hundreds of dollars a year: One of our writers saved over $1800 a year editing and changing covers for her young family.
Follow these five easy steps below.
Archive footage: Getty, unless otherwise noted.
