HEALTH – AUSTRALIA

Satisfaction with private health insurers continues decline

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Original article by Roy Morgan
Market Research Update – Page: Online : 11-Dec-17

A Roy Morgan Single Source survey has found that satisfaction with Australia’s private health insurers declined to 71.0% in October 2017, down by 0.2% points for the month and 3.4% points below the same time in 2016. This level is now well down on the peak of 76.4% recorded in June 2015 and is the lowest satisfaction rating since 2010. The top fund was Teachers Health with 83.4% satisfaction, followed by TUH Health Fund (82.8%), Defence Health (82.8%), CBHS (82.1%) and Health Partners (80.9%). The only funds to show improvements in satisfaction over the last 12 months were TUH Health Fund (up 3.7% points) and Australian Unity (up 2.1% points). Less than half the members of the major health funds would be "highly likely" (with a score of 8 to 10 on a ten point scale) to recommend their fund to friends or colleagues.

CORPORATES
ROY MORGAN LIMITED, TEACHERS HEALTH FUND, TUH HEALTH FUND, DEFENCE HEALTH LIMITED, CBHS FRIENDLY SOCIETY LIMITED, HEALTH PARTNERS, AUSTRALIAN UNITY HEALTH LIMITED, MEDIBANK PRIVATE LIMITED – ASX MPL, BUPA AUSTRALIA PTY LTD, THE HOSPITAL CONTRIBUTIONS FUND OF AUSTRALIA LIMITED

Medibank fails to satisfy members

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Original article by Alice Uribe
The Australian Financial Review – Page: 17 : 24-Oct-17

Morgan Stanley’s latest survey of customer attitudes to health insurance policies has found that 48 per cent were likely to consider changing insurers over the next 12 months, up from 41 per cent. Medibank Private had the lowest percentage of customers who would recommend it to a friend, while 50 per cent of Medibank Private customers indicated they would be likely to "shop around" over the next year, up from 40 per cent.

CORPORATES
MORGAN STANLEY AUSTRALIA LIMITED, MEDIBANK PRIVATE LIMITED – ASX MPL, AHM HEALTH INSURANCE, QANTAS AIRWAYS LIMITED – ASX QAN, AUSTRALIAN ASSOCIATED MOTOR INSURERS LIMITED, SUNCORP GROUP LIMITED – ASX SUN, NIB HEALTH FUNDS LIMITED, HBF HEALTHFUNDS INCORPORATED, THE HOSPITAL CONTRIBUTIONS FUND OF AUSTRALIA LIMITED, AUSTRALIA. DEPT OF HEALTH

Health insurers plan cheap policies for youth

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Original article by Andrew Tillett
The Australian Financial Review – Page: 3 : 12-Sep-17

Private Healthcare Australia CEO Rachel David says the private health insurance sector struggles to attract younger members. She was commenting on a proposal that would see younger Australians offered premiums at a discounted rate, with the Federal Government having been briefed about the idea. David does not think that older policy holders would object to the idea, as having more younger members in the system helps to offset the higher cost of older members, who tend to make claims more often.

CORPORATES
PRIVATE HEALTHCARE AUSTRALIA, EVALUATE, AUSTRALIA. DEPT OF HEALTH, AUSTRALIAN LABOR PARTY

Health premium cuts leave age bomb

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Original article by Sean Parnell
The Australian – Page: 3 : 15-Aug-17

A growing number of Australian health insurance policies have exclusions in them, as policy holders try to reduce premium costs. Most exclusions relate to pregnancy-related services and procedures seen as relating to old age, such as hip replacements and eye surgery. Many such exclusions are agreed to when the policy holder is young, but then forgotten about until later in life. The trend towards increased policy exclusions comes as governments try to reduce the exodus of consumers from the health insurance sector.

CORPORATES
MEDIBANK PRIVATE LIMITED – ASX MPL, NIB HOLDINGS LIMITED – ASX NHF, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, FEDERAL COURT OF AUSTRALIA, AUSTRALIA. DEPT OF HEALTH, AUSTRALIA. PRIVATE HEALTH INSURANCE OMBUDSMAN, CONSUMERS’ HEALTH FORUM OF AUSTRALIA, AUSTRALIA. DEPT OF HEALTH. PRIVATE HEALTH MINISTERIAL ADVISORY COMMITTEE

Millennials driving growth in private health insurance with over one million increase since 2008

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Original article by Roy Morgan Research
Market Research Update – Page: Online : 10-Aug-17

A Roy Morgan Single Source survey has found that since 2008, there has been an increase of 1.1 million millennials with private health insurance, which accounts for 49.6% of the overall market growth. Millennials now account for 24.5% of the private health insurance market, compared with only 16.3% in 2008. Millennials’ share of the market was well below that of pre-boomers, baby boomers and generation X in 2008, but as a result of their rapid growth, they are now close to being the most significant generation in this market. Although 43.6% of millennials overall now have private health insurance, this varies considerably by income. In terms of personal income, 32.4% of millennials with an income of less than $50,000pa have private health insurance, but this increases to 71.1% among those with incomes of $100,000pa or more.

CORPORATES
ROY MORGAN RESEARCH LIMITED

Small private health insurers lead in satisfaction and improvement – big funds lag

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Original article by Roy Morgan Research
Market Research Update – Page: Online : 7-Aug-17

A Roy Morgan Single Source survey has found that Teachers Federation Health (85.1%), Health Partners (84.6%) and CBHS (84.1%) were the top three performers among Australia’s fifteen largest private health insurance funds for customer satisfaction in the year to June 2017. These three funds all went against the overall negative satisfaction trend over the last year, with Teachers Federation Health up 2.1%, Health Partners up 1.1% and CBHS up 0.8%. Satisfaction with the two largest funds remain below the smaller players, with BUPA on 70.7% (down 2.8% over the last year) and Medibank Private on 68.4% (down 1.6%). Smaller funds also performed best on customer advocacy, with 73% of Teachers Federation Health members being "highly likely" to recommend their fund to friends or colleagues, followed by Defence Health (71.2%).

CORPORATES
ROY MORGAN RESEARCH LIMITED, TEACHERS FEDERATION HEALTH LIMITED, HEALTH PARTNERS, CBHS FRIENDLY SOCIETY LIMITED, BUPA AUSTRALIA PTY LTD, MEDIBANK PRIVATE LIMITED – ASX MPL, DEFENCE HEALTH LIMITED, LATROBE HEALTH SERVICES, TEACHERS’ UNION HEALTH

Under-30s turning their backs on private health

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Original article by Sarah-Jane Tasker
The Australian – Page: 4 : 13-Dec-16

Data from comparison website iSelect shows that a growing number of Australians under the age of 31 are questioning the need for private health insurance. CEO Scott Wilson notes that the lifetime health cover loading has ceased to be an incentive for younger people to take out private cover, as many are satisfied to use the public hospital system. Wilson expects private health insurance premiums to rise by 4.5 per cent to five per cent in 2017.

CORPORATES
ISELECT LIMITED – ASX ISU

Satisfaction with private health insurance declining

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Original article by Roy Morgan Research
Market Research Update – Page: Online : 10-Nov-16

A Roy Morgan Single Source survey has found that satisfaction among private health insurance policy holders was 74.4% in the year to September 2016, down from 76.3% over the same period in 2015, but well ahead of a decade ago (66.4% in 2006). The survey also shows that over the last year, nearly all major health insurance providers showed declining satisfaction; 10.4% of their members indicated they would either leave their fund in the next 12 months or shop around before they decided what to do. HBF has the highest level of customer satisfaction among the five largest health funds, at 80.2%, down 1.0% point from a year ago. In second place is HCF, well behind on 74.3% (down 0.7% points) and BUPA (73.6%, no change).

CORPORATES
ROY MORGAN RESEARCH LIMITED, HBF HEALTHFUNDS INCORPORATED, THE HOSPITAL CONTRIBUTIONS FUND OF AUSTRALIA LIMITED, BUPA AUSTRALIA PTY LTD, MEDIBANK PRIVATE LIMITED – ASX MPL, NIB HEALTH FUNDS LIMITED, TEACHERS FEDERATION HEALTH LIMITED, CBHS FRIENDLY SOCIETY LIMITED, DEFENCE HEALTH LIMITED, MEDICAL BENEFITS FUND OF AUSTRALIA LIMITED

Liberals hold all Top 10 seats for Private Health Insurance cover, and ALP only three of the Top 25

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Original article by Roy Morgan Research
Market Research Update – Page: Online : 24-Jun-16

A Roy Morgan Single Source survey conducted since the last federal election in October 2013 shows that 61 per cent of Liberal Party voters have private health insurance, ahead of National Party voters (53 per cent), Greens voters (51 per cent) and ALP voters (47 per cent). Each of the Top 10 electorates where voters are most likely to have private health insurance are held by the Liberal Party. They include the seats of Berowra and Moore, where 82 per cent of voters have private health insurance. The seat of Perth is the highest-ranking ALP-held electorate, with 70 per cent of voters having private health insurance.

CORPORATES
ROY MORGAN RESEARCH LIMITED, LIBERAL PARTY OF AUSTRALIA, AUSTRALIAN LABOR PARTY, NATIONAL PARTY OF AUSTRALIA, AUSTRALIAN GREENS

Large rivals may spur nib M&A

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Original article by Tim Binsted
The Australian Financial Review – Page: 17 : 23-Feb-16

Australian-listed private health insurer NIB Holdings has posted a 2015-16 interim profit of $A43.4m, which is five per cent higher than previously. The group’s net premium revenue was up 10.5 per cent at $A781.3m, and gross margins rose from 13.4 per cent to 15.1 per cent. MD Mark Fitzgibbon says NIB would be open to acquisitions, particularly as Medibank Private and Bupa are becoming increasingly competitive.

CORPORATES
NIB HOLDINGS LIMITED – ASX NHF, MEDIBANK PRIVATE LIMITED – ASX MPL, BUPA AUSTRALIA PTY LTD, ONEPATH AUSTRALIA LIMITED, SOUTHERN CROSS HEALTH LIMITED, AUSTRALIA. DEPT OF HEALTH