St.LukesHealth to increase health insurance premiums on 1 July 2022

Need to know

  • St.LukesHealth will increase its insurance premiums on July 1, 2022 by 3.19%
  • If you prepay by June 30, you can lock in your current premium for up to 12 months
  • St.Lukes is based in Tasmania but has members all over Australia

St.LukesHealth will increase its insurance premiums on 1 July 2022 by an average of 3.19%.

This compares with an average premium increase of 2.7% and is smaller than the increase from two of the five major health funds. Four of the five have also delayed their premium increases till later this year:

  • NIB – 2.66% increase from 1 November 2022
  • HCF – 2.72% from 1 November 2022
  • Medibank – 3.10% from 1 October 2022
  • Bupa – 3.18% from 1 October 2022.

How to save on your St.LukesHealth insurance premium

You can review your private health insurance at any time to see if you’re getting the best deal (it’s good practice to do it at least once a year). With thousands of health insurance policies on the market it can be hard to make sense of your options, so our insurance experts developed a tool that lets you compare health insurance so you can find cover that works for you, and potentially save yourself hundreds of dollars.

If you decide your current policy is good value for money and suits your needs, prepay your premium by 30 June 2022. This is an excellent way to save money as it ‘locks in’ your current premium and means you’ll avoid the 1 July price increase for up to 12 months.

St.LukesHealth discounts

You can save money on your health insurance by taking advantage of available discounts that center around how and when you pay, such as:

  • a 3.85% discount when you prepay your annual premium.

Who is St.LukesHealth?

Established in Tasmania in 1952, St.LukesHealth is a nonprofit health fund with 57,000 members across Australia. It’s part of Members Own Health Funds, an alliance of nonprofit and mutual health funds, and it has a marketshare of 0.5% with over 85% of its members based in Tasmania.

How does St.LukesHealth rate?

Gap cover rating

How well does St.Lukes protect its members from out-of-pocket costs?

  • ACT, NT, Tasmania – Average.
  • Victoria – Below average.
  • Everywhere else – Well below average (the lowest rating).

Complaints rating

St.LukesHealth has a Medium rating for complaints.

The ratings are Low, Medium and High. A Low rating is better than a High rating – it means the fund has fewer complaints and fewer serious disputes for its size. The complaints rating is based on complaints lodged with the Private Health Insurance Ombudsman (1 October to 31 December 2021). See our round-up of the most complained about health funds.

Five steps to better, cheaper health insurance

Want to change health insurance policies but not sure where to start? Our experts have put together a handy five-step action plan to help you through the process of reviewing, comparing and switching your health insurance policy.

Just a few minutes could potentially save you hundreds of dollars a year: one of our editors saved herself over $ 1800 annually just by reviewing and switching cover for her young family.

Follow these five easy steps below.

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