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...
Gap payments continue to rise, report findsOut-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...
Cost of health insurance will rise 3.7% on 1 AprilHealth 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...
Health insurers criticised for using ‘loophole’ to raise pricesAustralian 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...
Aussies hit with higher out-of-pocket paymentsAustralians 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....
Aussies warned about ‘double dipping’ by medical specialistsIf 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...
NSW residents may face higher bill for health cover next yearA ‘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...
Premiums predicted to rise by $114 a yearHospital Cover premiums could be set to rise, due to a ‘health tax’ introduced in NSW this week. The NSW Government has introduced laws to force private health insurers to pay the correct rate for single rooms in public hospitals. The government says some private health insurers have not been paying the correct rate, with...
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The Australian government offers 2 incentives to encourage Australians to take out private health insurance:
The Private Health Insurance Rebate is a rebate from the Australian government to help you pay for private health insurance.
The rebate applies to Hospital Cover, Extras Cover and Ambulance Only Cover.
The Private Health Insurance Rebate is means tested.
On 1 April 2019, the Australian government introduced the Age-based Discount, which is designed to encourage young people to take out private health insurance.
The rebate applies to people 18-29 and offers discounts of up to 10% on Hospital Cover.
Insurers do not have to offer the Age-based Discount.
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