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 CBHS Corporate What is CBHS Corporate? CBHS Corporate Health (CBHS Corporate) is a private health insurer that operates as an open health fund. It offers health cover for individuals and workplaces. CBHS Corporate is part of the Commonwealth Bank of Australia Group (CBA Group). Background In 1951, the Commonwealth Bank of Australia set up...
About Bupa Health Insurance What is Bupa Health Insurance? Bupa Health Insurance is a private health insurer that operates as an open health fund. It is part of the UK-based Bupa Group, an international healthcare company that operates in 3 markets: The Bupa Group claims it serves 43 million customers and has 82,000 employees around...
About Australian Unity What is Australian Unity? Australian Unity is a private health insurer that operates as an open health fund. Background Australian Unity began in 1840 as the Manchester Unity Independent Order of Oddfellows (Manchester Unity). It merged with Australian Natives Association Friendly Society (ANA) in 1993 to form Australian Unity. Australian Unity claims...
About AIA Health Insurance What is AIA Health Insurance? AIA Health Insurance (AIA Health) is a private health insurer that operates as an open health fund. Background AIA Health Insurance was established in 2017 as a joint venture between AIA Australia (a life insurer), GMHBA (a health insurer) and Discover (a financial services provider). Up...
About ahm What is ahm? ahm health insurance (ahm) is a private health insurer that operates as an open health fund. Background Established in Wollongong NSW 40 years ago, ahm was taken over by Medibank Private in 2009. Currently, it has over 950,000 members. Who can join ahm? Anyone can take out health cover with ahm because...