For the last three years I've had health insurance from a well known international company (I don't know if I can name/shame here) which has increased my premium by about 10% each year. 

I'm now 53 and have NEVER made a claim.

Last year I raised a stink and they decreased my premium by $100.  This year's retention email arrived yesterday with a 9.5% increase.

Whatever happened to a "no claims" discount?

Am I just getting ripped off or is this how things work now?

Thanks.

What company and how much? usually the increase is with age bands unless you claim

11 hours ago, up-country_sinclair said:

This year's retention email arrived yesterday with a 9.5% increase.

Whatever happened to a "no claims" discount?

Very few health Insurance providers give a "no claims" discount at all. As we get older the chance of claims increases and so normally does the premium. I have a vague memory that Pacific Cross or another had such a scheme however but could be wrong.

 

As scubascuba3 said if they use banding then there would be an increase which is likely to be around the 10% figure or more but banding is normally 5 year increments so probably not in this case. To put it in context David Shield put their premiums up by 9% earlier this year which was nothing to do with banding. 

 

On 11/29/2020 at 10:08 PM, topt said:

Very few health Insurance providers give a "no claims" discount at all.

 

I feared as much.

 

 

On 11/29/2020 at 10:08 PM, topt said:

if they use banding then there would be an increase which is likely to be around the 10% figure or more but banding is normally 5 year increments so probably not in this case.

 

The company I'm currently with is apparently banding in 1 year increments.  ????

Edited December 1, 20205 yr by up-country_sinclair

1 hour ago, up-country_sinclair said:

 

I feared as much.

 

 

 

The company I'm currently with is apparently banding in 1 year increments.  ????

It's worth asking them how much the premiums are at 55,60,65,70,75,80,85+ to see whether you can afford them, if not you need to think whether it's worth continuing

20 minutes ago, scubascuba3 said:

It's worth asking them how much the premiums are at 55,60,65,70,75,80,85+ to see whether you can afford them, if not you need to think whether it's worth continuing with the with the insurance,they treat us well and don't want us to leave.

I am  lucky my city has thousands with the insurance ,no problems. BLUE CROSS