Posted by Michael Wonder on 25 Jun 2018
ACCC tells private health funds: be more honest with your customers
26 June 2018 - Private health funds need to be more transparent about their policies, especially exclusions that often leave consumers out-of-pocket, according to Australia’s consumer watchdog.
The Australian Competition and Consumer Commission found consumers paid private health insurance premiums of about $23.1 billion in 2016-17, an increase of $1 billion from 2015-16.
The report, which the watchdog produces annually, found while more than half of all Australians, that is 13.5 million people, still held hospital or general health insurance cover, many were dissatisfied due higher premiums and gap payments.
