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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Sorry to be the bearers of bad news, but from 1 April 2025 onwards, you’ll be paying more for health insurance. At a time when many households are under financial pressure, this development is probably not welcome. The good news is, there are some cost-saving options available to you. Let’s look more closely at the...
For one in six Aussie couples who have trouble conceiving, the road to parenthood can be full of stress and heartbreak. Making matters worse, fertility treatments can be eye-wateringly expensive, putting many couples under financial stress. It’s little wonder many start to consider health insurance that covers fertility treatment. While the cost of fertility treatment varies...
How much time do you spend thinking about your health insurance? If you’re like most Australians, the answer is probably: not a lot. Health insurance tends to be something we purchase then mostly forget about, until we need to use it. But considering how much of your income goes on health insurance, it’s a good...
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...
Every year thousands of Australians set new year resolutions to improve their lives in the coming year, and 2025 is no exception. For many of us, those resolutions involve wellbeing goals, but other people might choose to focus on better financial choices, or improvements in other areas of their lives (or all of the above). ...
If there’s one question about private health insurance that people ask more than any other, it’s this: what’s the difference between Hospital Cover and Extras Cover? And then they ask: do I need both? No one wants to pay for something they don’t need, so healthslips.com.au is here to give you all the accurate information...
If you’ve ever been sick or injured for a long period of time, you’ll know all too well that health equals wealth. Being sick not only limits your lifestyle, it can be expensive, with GP visits now $74.66 on average, with the Medicare rebate only covering $39.75, and Aussies visiting a GP 5.6 times a...