Westfund Health Insurance steps up again to support members
Lithgow, NSW – A leading member-owned heath fund has stepped up once again to provide relief to its over 110,000 members Australia wide.
Westfund Health Insurance announced it will postpone planned increases to annual premiums until August 1, 2022, doubling down on its 2020 premium deferral at the start of the COVID-19 pandemic.
Westfund Chief Executive Officer Mark Genovese said the fund had already provided a range of support measures throughout the pandemic totalling more than $12 million in benefits to members. This latest deferral will bring that support up to almost $15 million.
“As a member-owned, not-for-profit health fund, we recognise the enormous impact COVID-19 has had on the livelihoods of members and their ability to access quality healthcare services,” Mr Genovese said.
“We have a proud history dating back to 1881 of standing up for our members when they need us most and our latest premium deferral is just another example of our commitment to them.
“Westfund deferred premium increases at the start of the pandemic saving members over $6 million. We have since strengthened our support by recently returning $5.1 million to eligible members and we are now deferring premium increases again.
“At just 2.4%, our planned 2022 premium increase was already one of the lowest in the industry while our health-care coverage continues to be one of the strongest nationwide.
“Our primary objective is to help our members however we can through this period, and we have developed a series of measures specifically targeted at supporting them where it matters most – cost savings and better services.
“In addition, we are supporting our members with improved services including expanding our range of health and wellbeing programs targeting mental and virtual telehealth consultations.
“I think this all amounts to what we tell our members – we’re a different kind of health fund, we put people before profits”.
Westfund Health Insurance will defer a scheduled premium increase due April 1, 2022 to August 1, 2022 providing members with four months of premium increase relief and saving them a combined $2.95 million. The member-owned, not-for-profit fund will be communicating with eligible members about the premium postponement this month.
More information about Westfund’s COVID-19 Community Support Package is available here.