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 Astute Simplicity Health? Astute Simplicity Health is a brand that sells private health insurance. Is Astute Simplicity Health a registered insurer? No. Astute Simplicity Health is not a registered insurer. Instead, Astute Simplicity Health and St Lukes Health (a registered insurer) have an agreement that enables Astute Simplicity Health to sell St Lukes’...
What is APIA Health Insurance? APIA is a brand that sells private health insurance. It is part of Suncorp’s portfolio of brands. Is APIA Health Insurance a registered health insurer? No. Neither Suncorp nor APIA Insurance is a registered insurer. Instead, APIA and nib (a registered insurer) have an agreement that enables APIA to sell...
What is AAMI Health Insurance? AAMI Health Insurance is a brand that sells private health insurance. It is part of Suncorp’s portfolio of brands. Is AAMI Health Insurance a registered health insurer? No. Neither Suncorp nor AAMI Health Insurance is a registered insurer. Instead, AAMI and nib (a registered insurer) have an agreement that enables...
About Westfund What is Westfund? Westfund Health Insurance (Westfund) is a private health insurer that operates as an open health fund. Background Established in 1953, Westfund began as the Western District Mineworkers Medical Benefits Fund. It was set up to help miners based in central western New South Wales with hospital and medical expenses. In...
About Transport Health What is Transport Health? Transport Health is a private health insurer that operates as an open health fund. Background Transport Health was established in 1888 to help Melbourne tramway workers pay for medical and hospital treatment. It gradually expanded to provide health cover to all sectors of the Australian transport industry. In...
About St Lukes Health What is St Lukes Health? St Lukes Health is a private health insurer that operates as an open health fund. Background St Lukes Health was formed in 1952 by a group of Launceston businessmen who believed Tasmanians needed a health fund to help them with the cost of hospital and medical...
About RT Health What is RT Health? RT Health is a private health insurer that operates as an open health insurer. Background RT Health began in 1889 when a group of railway workers at Sydney’s Eveleigh rail workshops formed a co-op. The co-op would help workers and their families pay for medical treatment if they...
About Queensland Country Health Fund What is Queensland Country Health Fund? Queensland Country Health Fund is a private health insurer that operates as an open health fund. Background Queensland Country Health Fund began in 1977 as the Mount Isa Mines (MIM) Employees’ Health Society to protect its workers from high hospital and medical costs. In...