Edition 68
September 2010
Message from the Manager
Fund Financial Performance – 30th June 2010
We’re putting the finishing touches to the Annual Report, and yet again have achieved a ‘healthy’ surplus. As was the case last year, our hospital admissions were lower than budgetted, and hospital contract increases were well within control.
Investment returns were again excellent, contributing to our good result. The YoungSavers product, both for Singles and now Families, continues to perform well, with ‘healthy’ growth in new members in this product area. Reports and AGM Notices will be issued when available, and also placed on our website.
Email Addresses
As was the case last year for newsletters, and our Annual report, we will be utilising the email addresses for those members who have registered, and who do not receive Renewal Accounts. Note that we will not disclose these details to any third party, and will not use these details for unsolicited calls or emails to you. We will of course use this means of communication for claims-related issues, thus speeding up processing for you.
Federal Government Legislative Changes
As we write this, the outcome of the federal election is not known. The Labor government has committed to “no further changes” beyond the previously announced changes to the Contributions Rebate Means Test for higher income earners, and the associated increase in Medicare Levy Surcharge for those who drop out of private health insurance hospital cover. These changes were delayed in the Senate, but will pass if the Labor government is re-elected.
You will be advised of the detail of the changes should this occur and how they may affect you, firstly via the fund website, and in further issues of HealthLinks. The earliest that they will apply will be 1st July 2011. Should there be a change of government, and the Coalition is elected, the mooted changes to the Rebate Means Test, and Medicare Levy Surcharge, will be abandoned.
William Beaton
Chief Executive Officer
The Back Page
How do we compare against the rest?
Every now and then we receive emails and letters from members suggesting that we show how competitive Phoenix Health Fund is when compared with the other health insurers in the industry. Because we at Phoenix Health Fund are confident that our products are highly competitive, take a look at the chart below.
The chart shows the cost of Phoenix Health Fund’s Family Top Cover product compared with our competitors’ Top Cover products (Prices are based on a two parent family with dependants, no excess, no hospital restrictions or exclusions and high ancillary package – NSW prices quoted per month including 30% government rebate – all information is sourced from www.privatehealth.gov.au.)
If you’re surprised by how competitive Phoenix Health Fund is, you shouldn’t be.
Phoenix Health Fund is different from the other funds listed in the comparison above. Unlike the other funds shown, Phoenix Health Fund is a Mutual not-for-profit health fund, meaning that we do not pay shareholders, we do not distribute excess surplus to owners and we do not pay company tax. Instead, surplus goes back into our products and services, allowing us to generate a better overall price for you as a member.
For more information, call our friendly team on Freecall 1800 028 817.
Optical and Dental Claims
Just a few reminders when making claims for optical and dental.
In order for us to process your optical claim without delay, please include your optical prescription with each claim.
For dental claims, please make sure your dental account includes tooth ID numbers. By checking this each time you go to the dentist, you can ensure that your dental claim will be processed without delay.
For more information, call our friendly team on Freecall 1800 028 817.
Suggestions?
Can you see ways in which we could be providing a better service? Send us your thoughts and recommendations to: suggestions@phoenixhealthfund.com.au.
