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CHOICE response to Minister Hunt announcing private health insurance premiums increases

December 22, 2020 Insurance No Comments Email Email

CHOICE response to Minister Hunt announcing private health insurance premiums increases.

Quotes attributable to CHOICE Senior Campaigner Dean Price:

“This premium price hike will make people question their need for expensive health insurance. This will be the second increase in most people’s private health insurance premium in six months. The average increase may be lower than other years but people should check how much their specific policy is going up as it will vary. Some funds have average increases up to 5.47%.”

“After a tough year for many people, with services stopped or delayed, this premium increase is going to hurt.”

“Nearly 70% of people with private health insurance identify it as a key cost of living concern, and this next increase will only add to people’s worries. Minister Hunt’s approval of this industry’s price hike will no doubt make people consider dropping their coverage. This price hike is likely to result in more people dropping their coverage, putting more upward pressure on  premiums, continuing the trend of recent years that has seen thousands of Australian’s dropping their coverage. The federal government needs to take real action to address issues that industry is unwilling or unable to fix themselves – we need a full review of the private health system.”

 

“People can shop around and lock in a price if they pre-pay before April 1, but that is a short term solution when people have been crying out for real action on price and value.”

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