The government has announced it will investigate health insurers for using a loophole to raise their prices. In December last year, Minister of Health Mark Butler warned health insurers to stop ‘phoenixing’ policies after a Commonwealth Ombudsman report brought the practice to light. By law, health insurers can only raise prices once a year, but...
Most Australians will pay more for health insurance next week due to a reduction in a rebate designed to make health cover cheaper. Cuts to the Private Health Insurance Rebate take effect on April 1 at the same time as most policies are increasing in price by an average of 3.7% – which adds up...
Out-of-pocket payments for Private Health Insurance claims continue to rise, putting more pressure on Australian households during the cost-of-living crisis. New data from Australian Prudential Regulation Authority (APRA), which regulates the health insurance industry, found a 7% increase in Gaps paid for Hospital Cover claims for the quarter finishing December 2024, compared with the same...
Health insurance will increase by an average of 3.7% in April – the highest premium increase since 2018. Every year health insurers are allowed to raise their premiums only once. This year, Minister of Health Mark Butler rejected insurers’ proposed increases (reportedly up to 6%) at least twice before agreeing on an average premium increase...
Australian private health insurers have been criticised for using a loophole to raise the prices of Gold Cover policies. This week the Commonwealth Ombudsman found evidence some insurers have been raising prices through ‘product phoenixing’ – closing existing policies to new customers, and creating almost identical policies at a higher price. As a result, new...
Australians with Private Health Insurance are paying higher out-of-pocket payments for hospital treatment than a year ago, new data shows. The latest statistics from Australian Prudential Regulation Authority (APRA), which regulates the health insurance industry, show out-of-pocket fees for private hospital treatment increased by 8% in the 12 months from October 2023 to September 2024....
If you’ve used health insurance to pay for surgery in a private hospital or clinic, check your bill to make sure you haven’t been charged a Gap incorrectly. That’s the advice from Private Healthcare Australia, the peak body for the health insurance industry, after allegations that some specialists (including surgeons and anaesthetists) have been ‘double...
A ‘health tax’ passed by NSW government last week means NSW residents could face higher premiums for health insurance in 2025. The new legislation means the state government can increase its existing tax on private health insurance if insurers do not agree to pay a higher ‘bed rate’ of $892 for private patients in public...
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If you want more health cover than a Basic policy, a Bronze Hospital Cover policy could be a good choice, providing cover on 21 of the 38 hospital clinical categories which can be claimed on private health insurance. But that doesn’t mean all Bronze health insurance policies give you the same level of value –...
If you’re looking for the best Silver health insurance in Australia, price will naturally be one of the big factors in your decision. But you also need to consider what you get for that policy – paying more for a policy doesn’t automatically mean better cover. Unlike most health-insurance comparison websites, here at healthslips.com.au we’re...
When it comes to Gold tier Hospital Cover, not all policies are created equal. While Gold tier policies provide the maximum Hospital Cover – which means they cover ALL 38 clinical categories health insurers are allowed to cover – that doesn’t mean they provide the amount of value, per se. And they certainly aren’t priced...
As the cost-of-living crisis continues in Australia, knowing how to save money on health insurance could pay off – literally. As experts on private health insurance, we at healthslips.com.au have plenty of great hacks for reducing the cost of private health insurance. Here’s our round-up of the best tips. Change your excess If you’re admitted...
If you’re a young and healthy Australian, do you really need health insurance, since you can get public hospital treatment for free under Medicare? And if you’re an older Australian, is it worth getting health insurance, even though it might cost you more? There’s no best age to get health insurance, but there are lots...
Like any aspect of life that’s complicated, health insurance is an area that’s shrouded in myths and misconceptions. Since some of those misconceptions could be costing you money, we at healthslips.com.au – your health insurance experts – are here to sort fact from fiction. To help you get health insurance savvy, here are some of...
Maybe you’ve just finished studying or you’re moving out of home. Maybe you’ve entered your 30s or got married. Whatever your reasons for getting your own health insurance in your 20s instead of relying on your parents’ health cover, it’s a good feeling to be taking control of your finances and becoming independent. It can,...
When you look at your bank statement, health insurance is probably one of the higher costs appearing in the ‘money out’ column. Private health insurance can certainly comprise a large chunk of most Aussie household budgets, especially when you consider premiums usually increase every year. Here are some of the reasons health insurance costs so...