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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About Phoenix Health Fund What is Phoenix Health Fund? Phoenix Health Fund is a private health insurer that operates as an open health fund. Background Phoenix Health Fund was established in 1953 in Newcastle to provide hospital cover for employees of Stewarts and Lloyds, a steel tube manufacturer. As part of the Tubemakers of Australia...
About Peoplecare What is Peoplecare? Peoplecare Health Insurance (Peoplecare) is a private health insurer that operates as an open health fund. Background Peoplecare was established in 1953 as the health insurer for employees and families of the steel manufacturer John Lysaght Australia Ltd. In 1979 when BHP bought John Lysaght Australia Pty Ltd, Peoplecare offered...
About nib What is nib? NIB Health Funds Ltd (nib) is a private health insurer that operates as an open health fund. Background nib began in the 1950s when workers at BHP Steelworks in Mayfield set up the Newcastle Industrial Benefits Hospital Fund and the Newcastle Industrial Medical Fund. In 1977, the insurer changed its...
About onemedifund What is onemedifund? onemedifund is a private health insurer that operates as an open health fund. Background In 2007, not-for-profit insurer Peoplecare helped establish National Health Benefits Australia Pty Ltd, which trades under the brand onemedifund. Peoplecare manages onemedifund on behalf of its parent company. Who can join onemedifund? Anyone can join onemedifund...
About Mildura Health Fund What is Mildura Health Fund Mildura Health Fund is a private health insurer that operates as an open health fund. Background Established in 1929, Mildura Health Fund was the first health fund of its type in Victoria. Its objective was to create a fund that covers hospital costs so members would...
About Medibank What is Medibank? Medibank Private (Medibank) is a private health insurer that operates as an open health fund. Background Established in 1976 by the Australian government as a not-for-profit health insurer, the Health Insurance Commission initially ran Medibank. In 1998, the Australian government removed Medibank from the control of the Health Insurance Commission,...
About Latrobe Health Services? What is Latrobe Health Services? Latrobe Health Services is a private health insurer that operates as an open health fund. Background Latrobe Health Services was established in 1950 by power workers to make hospital and ambulance care affordable for people living in the Latrobe Valley. In 2005 it took over Federation...
About Health Partners What is Health Partners? Health Partners is a private health insurer that operates as an open health fund. Background Established in South Australia in 1937, it is now South Australia’s largest not-for-profit health fund with 90,000-plus members throughout Australia. The insurer operates several dental and optical businesses in South Australia. Who can...