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| Health insurance premiums to increase | |||
| Private health insurance premiums are set to increase by 6% to 7% this year, or up to A$195 (US$176) for a family, reports the Herald Sun newspaper. The estimated 6% to 7% premium rise will increase comprehensive family coverage cost without extras, from A$2,772 to A$2,966 a year, and by A$96 a year for singles. The premium hike, to be announced by Health Minister Nicola Roxon, follows a government review of increases proposed by insurers. Last year, premiums increased by 6.02% on average. Commenting on the impending hike, Michael Armitage, Chief Executive of the Australian Health Insurance Association says that in comparison with rising costs, premium increases are always kept to a minimum, with a history of premium increases going up 3 to 4% less than the benefit outlays. General patient treatment benefits rose 8.7% last year, according to the Private Health Insurance Administration Council, with a 9% increase for medical specialists. Meanwhile, the government is set to reintroduce for debate in the Senate a proposed means test for Australians to enjoy a 30% private health insurance rebate. Australian Treasurer, Mr Wayne Swan, calls the health insurance legislation "critical to ensuring the long-term sustainability" of the nation's budget and health system. The reform would end subsidies to the most well-off Australians and generate savings of about A$9 billion over the next decade. |
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| Ins Communications Pte Ltd · 69 Amoy Street, Singapore 069 888 Tel: (65) 6224 5583 · Fax: (65) 6224 1091 http://www.meinsurancereview.com/pages/e-weekly.asp?country=4 Published: 9/11/2010 5:44:58 AM © 2010 All rights reserved |
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