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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When you’re separating from your partner, there are a lot of tough decisions and arrangements to be made – especially when it comes to finances. One of the things you may need to do is change your health insurance policy and, if you have children together, decide how your children’s healthcare will be covered. We...
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...
For the 440,000+ Australians living with the impact of stroke, recovery can be a long journey. Rehabilitation after stroke is different for everyone, depending on how your brain is affected and how severe the stroke was. Here’s how private health insurance can help with the costs of recovery after a stroke. Your initial treatment will...
If you need to lose a lot of weight for your health, and eating well and exercise haven’t worked, you might be considering surgery. In 2014-15 (the latest statistics available) there were around 22,700 hospitalisations for weight loss surgery procedures in Australia – a number that’s more than doubled since 2005-06 – with 7 out...
If you’re a new migrant, we hope you’re enjoying life in Australia. One of the things you’ll need to think about as you adjust to life as an Aussie is our healthcare system. While many treatments and services are covered by Medicare, there are some advantages to taking out Private Health Insurance. In some cases,...
When you compare Extras Cover with Hospital Cover, you might ask yourself whether you need both. After all, Hospital Cover is there for health events that might involve hospital treatment, while Extras Cover (also known as general or ancillary cover) is often considered more for ‘health maintenance’. So if you want to save money on...
It’s the most common elective procedure performed in Australia, but cataract surgery has a long waiting list in public hospitals. According to Australian Institute of Health and Welfare data, more than 90% of people who had their cataracts done in 2022-23 had to wait more than a year. If you have Private Health Insurance, you...
Taking out a health insurance policy is a great way to cover yourself in the event of illness or an injury. But to claim on that policy, you have to take it out well before you need or get treatment, due to health insurance waiting periods. A waiting period is the amount of time you...