Generally health funds write to you because something has changed on your health insurance. March is the classic time of year where health funds contact their members advising them of an increase in their premiums and changes to policies.
Make sure you carefully read these communications as you need to understand the changes that are taking place with your policy. Health funds have been known to not clearly communicate changes to their policies, which has created grief for policyholders when they have come to claim benefits in the future.
A classic change by health funds at this time of year is to introduce new restrictions, such as the removal of gastric banding or back surgery. So it is important you read these communications carefully to ensure you understand the potential changes that are taking place with your cover.
It is also a time when health funds review their product ranges and merge old products into new products in order to gain efficiencies. Sometimes the changes enhance benefits but there are situations where benefits are reduced or withdrawn. Policy holders should be aware that this is the time of year when these types of things happen.
Health funds are obliged to provide you with a Standard Information Statement (SIS) to assist you to understand your cover and compare health insurance products. The services of a health insurance consultant are invaluable to assist you to understand your cover and in comparing health insurance products.