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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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,...
So, you just got married. Congratulations! If you’ve been living together for a while, you might already have a joint bank account, but have you thought about a joint health insurance policy? Sure, it’s probably not your first priority after the wedding, but Health Insurance when you’re married is definitely worth considering. Before you and...
Baby names, schools and nursery furniture… there’s a lot to consider when you’re getting ready to be a parent. One of the things you’ll need to think about – sooner, rather than later – is what medical care you (or your partner) will want during pregnancy, where you’ll give birth and what healthcare professionals you’ll...
If you’re among the 1.3 million Australians living with diabetes, you’ll be very familiar with medical waiting rooms. Diabetes is a long-term condition requiring ongoing management and consultation with a team of healthcare professionals, so you’re probably wondering whether health insurance will cover the costs of living with diabetes. The short answer is yes, but...
If you’re among the 2.7 million Australians living with asthma, you’ll be all too aware of the need to be proactive about your health. According to the 2021 Census, asthma is the third most common long-term health condition in Australia (behind mental health conditions and arthritis). So do you need health insurance for asthma? Here’s...
Most Australians have tried a diet at some point in their lives, which means many have discovered that crash dieting and programs which promise quick results are rarely successful in the long term. According to the Australian Bureau of Statistics (ABS) data, more than 2.3 million Australians over the age of 15 were on a...
If doing more exercise is a priority for you, well done for taking care of your health. Being physically active is proven to boost self-esteem, energy and sleep quality, and can also help you manage stress and depression. Plus, when you make exercise a regular habit, you’ll lower your risk of chronic diseases such as...
Maybe you’re considering getting health insurance for the first time but unsure whether it’s worth the money. Maybe you’re looking at the amount you’re spending on health insurance and wondering whether you’re getting enough value from it. Whatever your reason for querying the value of health insurance, it’s a worthy question. We asked Professor Luke...