INSURANCE PREMIUMS – GOVERNMENT POLICY – AUSTRALIA

Labor’s next woe: health premiums

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Original article by Michael Smith
The Australian Financial Review – Page: 1 & 6 : 16-Oct-24

Sources have indicated that private health insurers will seek approval from the federal government to increase their premiums by 5-6 per cent in 2025. This would be the highest increase since 2016, when premiums rose by an average of 6.18 per cent. Private health insurers are slated to make their final submissions to Health Minister Mark Butler in early November; the size of the premium increases is traditionally announced between December and March, and they take effect from 1 April. With the federal election due by mid-May and the cost-of-living crisis weighing on many voters, the government will be reluctant to approve a large increase in premiums.

CORPORATES
AUSTRALIA. DEPT OF HEALTH AND AGED CARE

Health insurance crisis looms

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Original article by Cliona O’Dowd
The Australian – Page: 17 & 18 : 9-Dec-19

Medibank Private’s chief customer officer David Koczkar and NIB Holdings MD Mark Fitzgibbon have stressed the need to reign in rising costs in Australia’s health care system. Private Healthcare Australia CEO Rachel David has warned that smaller private health insurers in particular may not be viable unless reforms are implemented. The federal government has approved a 3.27 per cent increase in Medibank’s premiums for 2020, while NIB and Bupa will lift their premiums by 2.9 per cent and 3.26 per cent respectively.

CORPORATES
MEDIBANK PRIVATE LIMITED – ASX MPL, NIB HOLDINGS LIMITED – ASX NHF, BUPA AUSTRALIA PTY LTD, PRIVATE HEALTHCARE AUSTRALIA LIMITED, AUSTRALIA. DEPT OF HEALTH, AUSTRALIAN PRUDENTIAL REGULATION AUTHORITY, GRATTAN INSTITUTE

Health cover costs could rise by 7pc

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Original article by Jessica Gardner
The Australian Financial Review – Page: 3 : 22-Jan-15

Australian Health Minister Sussan Ley is expected to approve health insurance premium increases as high as seven per cent from 1 April 2015. Health insurance firms argue that rises of up to triple the rate of inflation are justified because of increased use of services, rising care costs and costs associated with technological progress

CORPORATES
AUSTRALIA. DEPT OF HEALTH, NIB HOLDINGS LIMITED – ASX NHF, MEDIBANK PRIVATE LIMITED – ASX MPL, WESTFUND HEALTH INSURANCE, CONSUMER HEALTH FORUM, AUSTRALIA. PRODUCTIVITY COMMISSION