Bupa delays premium increase in cost of living relief initiative

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Bupa has announced that its customers will benefit from a $22 million cost of living initiative with their 2022 health insurance premium increase deferred for an additional month until 1 November.

Bupa previously deferred its approved 1 April premium increase for six months until October as part of COVID-19-related savings being returned to customers.

Bupa health insurance managing director Chris Carroll said, “Delaying the premium increase for an additional month is part of our ongoing monitoring of COVID-related savings and returning value to customers.

“With high household grocery bills, petrol and power prices, we know delaying our members’ premium increase will help ease some of the pressure on household budgets, while giving them assurances they can make full use of their health insurance policy.

“With the public health system under ongoing strain, we need to do all we can to keep private health insurance affordable and accessible to as a many people as possible.”

Bupa said it has now returned $640 million to customers as part of its COVID-19 support. It will implement a 3.18 per cent premium increase on 1 November.