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CHOICE response to APRA Quarterly Health Insurance Statistics (March 2020)

May 20, 2020 Insurance No Comments Email Email

Quotes attributable to CHOICE Health Campaigner Dean Price:

“Today’s APRA statistics are further proof that Australians are giving up their health insurance in droves. This is yet another quarter in which fewer people have seen value in taking up private health insurance. Australians are voting with their feet and telling health insurers what they’re offering is poor value. When you’re sick you just want to be cared for, but private health is still riddled with confusing policies, manipulative marketing, poor value and the nasty surprise of exorbitant out of pocket costs.”

“Before COVID-19, Australians were continuing the trend of the past few years and were abandoning private health insurance.  It’s no wonder – nothing has been done to address people’s concerns that private health insurance costs too much, is too confusing and offers too little value. In March 2020, CHOICE research found that 78% of people with private health insurance identify it as a key cost of living concern.” (1)

“The impact of COVID-19 on the rate of health insurance coverage will be seen more fully in the next quarter. Policies that were poor value before COVID-19 have only become worse value as the industry dithers on returning their unexpected windfalls back to their customers.”

“The Australian Government must review the whole system by undertaking a thorough public inquiry.”

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