Skip to content

Private health insurance reforms

PHI Reform - image

In 2019, the Australian Government introduced a range of reforms for the private health insurance industry with the aim of making health insurance simpler and more affordable.

We were excited for the positive change the reforms would bring and were one of the first health funds to introduce them to our members in April 2019 to improve the overall experience and affordability of our health insurance products.

Key changes

  • Gold, Silver, Bronze and Basic product tiers were introduced, making it easier for you to compare, choose and use your health cover

  • Premium discounts of up to 10% were introduced if you’re aged 18-29 years old and have or are planning to take out Hospital cover

  • A standardised list of hospital services was introduced across the industry to help members easily understand what products do and do not cover

  • Some Natural Therapies were removed from policies across all health insurers (a review by the Government found no clear evidence that the removed natural therapies had any clinical effectiveness)

  • Members were given the option to choose a higher level of excess, making your premium more affordable. You can choose an increased excess of $750 for singles and $1,500 for couples or families

Unlike some private health insurers we quickly passed on to our members the ability to choose a higher hospital excess level as well as the age-based discount to over 50,000 members under the age of 30. Both measures resulted in lower premiums and have brought about more choice, certainty and simplicity to the industry.

Picture Test
Mark Fitzgibbon, nib Managing Director

Frequently asked questions

Q: How do I get the age-based discount?

A: If you choose a Hospital cover when you join nib and you’re between the age of 18-29, the discount will be applied as you join (just make sure you give us your date of birth!). Existing members who have Hospital cover will have received the discount automatically.

Q: How can I increase my excess?

A: Existing members can choose to increase their excess by logging in to their member account or contacting us.

Q: Have these changes actually made it easier to buy and understand health insurance?

A: We believe these reforms have made it easier by increasing transparency about what you’re covered for, as well as making sure our members have choice when selecting a cover that’s right for them.

Q: What other ways can I save on my health cover?

A: We want to help you make the most of your health cover, which is why you can access a range of discounts, savings and rewards. Head to our member benefits page to learn more.

Q: Why can’t I claim on some Natural Therapies anymore?

A: Following a review of Natural Therapies by the Department of Health, they found no clear evidence of clinical effectiveness across several Natural Therapy services. It’s why all health funds in Australia, including nib, are no longer able to cover services, such as, Naturopathy, Yoga, Pilates and more as part of a health insurance policy that complies with Government regulations. To find out more about what you’re covered for, login to your member account or contact us.

Continue to the next page