GMHBA health insurance has announced it is easing financial pressure on its members by freezing increases to base premiums for extras cover in 2025, including for hearing aids.
Ms Meg Rayner, head of corporate communications, said its mid and top level extras products paid benefits toward hearing aids, and neither were receiving a price increase on 1 April 2025.
All Australian health funds review their premiums each year with any adjustments approved by the Australian Government Minister for Health and Aged Care.
Reviews support increasing healthcare costs driven by several factors, including higher costs associated with new medical technologies and treatments, an ageing population requiring higher levels of care and rates of chronic health conditions increasing.
GMBHA said increases to base premiums for extras cover would be frozen provided there were no changes to any discounts or the Australian Government Rebate on private health insurance which applies to members’ premiums, and members remained on the same type and level of cover.
It said GMHBA members with hospital or combined cover may still experience an increase in their premium but the average increase of 2.4% across all GMHBA Limited products was below the industry average for the third year running.
Mr David Greig, GMHBA CEO, said the decision reflected the organisation’s ongoing commitment to its members, ensuring they received excellent value from their private health insurance.
“Amid the ongoing pressures of the cost of living, this will allow our members to focus on their health with peace of mind,” he said.
“Having extras is a great way for members to get value out of their cover and proactively manage their health and wellbeing, by accessing ancillary care like dental check-ups or optical or physiotherapy.”
The Hearing Savers website has a good comparison of different health insurance company rebates for hearing aids.
