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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What is Territory Health Fund? Territory Health Fund was a brand that sold Private Health Insurance. It was created by Queensland Country Health Fund to market its policies in the Northern Territory. As of January 2025, Territory Health Fund policies are no longer available for purchase. Existing Territory Health Fund members have been transitioned to...
What is Suncorp Health Insurance? Suncorp Health Insurance is a brand that sells private health insurance. Is Suncorp Health Insurance a registered health insurer? No. Suncorp Health Insurance is not a registered insurer. Instead, Suncorp Health Insurance has an agreement with nib (a registered insurer) to sell nib’s health insurance policies under the Suncorp Health...
What is Seniors Health Insurance? Seniors Health Insurance is part of Australian Seniors, a brand that specialises in selling insurance products to people over the age of 50. Is Seniors Health Insurance a registered health insurer? No. Seniors Health Insurance is not a registered insurer. Instead, Australian Seniors has an agreement with nib (a registered...
What is Real Health Insurance? Real Health Insurance is part of Real Insurance, a brand that sells a range of insurance products. Real Insurance and nib launched Real Health Insurance in March 2023. Is Real Health Insurance a registered health insurer? No. Real Health Insurance is not a registered insurer. Instead, Real Health Insurance and...
What is Qantas Insurance? Qantas Insurance is a brand that sells health insurance. Is Qantas Insurance a registered health insurer? No. Qantas Insurance is not a registered insurer. Instead, Qantas Insurance and nib (a registered insurer) have an agreement that enables Qantas Insurance to sell nib’s health insurance policies under the Qantas Insurance brand. In...
What is Priceline Health Insurance? Priceline Health Insurance is a brand that sells health insurance. What Priceline Health Insurance a registered health insurer? No. Priceline Health Insurance is not a registered insurer. Instead, Priceline Health Insurance and nib (a registered insurer) have an agreement that enables Priceline Health Insurance to sell nib’s insurance policies under...
What is ING Health Insurance? ING Health Insurance is a brand that sells private health insurance. Is ING Health Insurance a registered health insurer? No. ING Health Insurance is not a registered insurer. Instead, ING Health Insurance and nib (a registered insurer) have an agreement that enables ING Health Insurance to sell nib’s health insurance...
What is Frank? Frank is a brand that sells private health insurance online. Is Frank a registered health insurer? No. Frank is not a registered insurer. Instead, GMHBA (a registered insurer) created the Frank brand to sell its health insurance policies online. Who can join Frank? As GMHBA is an open insurer, anyone can join...