The health insurance industry usually only raise premium rates on existing products once a year on April 1. It is important to note that this happens across the whole industry, not just at Police Health.
Factors leading to cost increases include rising health related expenses, such as wages for hospital staff, doctor charges, the cost of medical equipment and technology, as well as other factors such as increases in claims frequency.
Police Health has reserves to cover unexpected increases in benefit costs, but if this is ongoing, we must increase our premium contributions to stay financially viable. In other words, we must have funds to ensure that we can payout your claims.